Useful Stats
VC investments nearly triple in past six years; 31 states outperformed 5-year average for dollars invested in 2018
Over the six-year period from 2013 to 2018, as total venture capital investments nearly tripled, growing from $47.5 billion in 2013 to nearly $131 billion in 2014, the number of deals increased by just 13.5 percent according to new data from the NVCA-PitchBook Venture Capital Monitor. The $131 billion in total VC investments in 2018 is the largest amount since PitchBook began tracking the data in 2006 and the first year since the height of the dot-com boom that annual capital investment eclipsed $100 billion. Last week, SSTI wrote how the VC industry was shaped by concentration including both geographic concentration and increases in mega-rounds/funds in 2018. Read more | 
Maryland Gov. proposes $56 million for Opportunity Zone programs
Maryland Governor Larry Hogan’s FY 2020 budget proposal includes $56.5 million in new funding to attract businesses to Opportunity Zones. Other new innovation funding would support manufacturer hiring credits and a seed fund for minority entrepreneurs. Under the governor’s proposal, TEDCO, the state’s primary innovation agency, would see its spending increase from $27 million to $45 million.
The Opportunity Zone proposal is likely to garner the most attention from other states, as regions throughout the country are still attempting to make sense of how to leverage the incentive to encourage positive growth. Read more
Tech Talkin’ Govs, part 3: Economic development, broadband, education and climate change driving governors’ innovation agendas
This week, we see broadband investment in Indiana; education initiatives that begin with pre-K and extend beyond high school in a number of states; lifelong learning approaches; apprenticeships; climate change and green energy initiatives in Nevada and Washington; and more on governors’ agendas. As governors across the country continue to deliver their state of the state addresses to their legislatures and constituents, SSTI monitors the speeches for news of innovation related initiatives. This week we bring you news of innovation funding from governors in Indiana, Iowa, Kansas, Missouri, Nevada, Rhode Island and Washington. Read more
State support for higher education grows “marginally”
From FY 2018 to FY 2019, state fiscal support for higher education grew by 1.6 percent nationwide and increased in 45 states, according to new data from the Grapevine Survey, a project of Illinois State University’s Center for the Study of Education Policy in cooperation with the State Higher Education Executive Officers (SHEEO). Inside Higher Ed has a thorough rundown of the study, including an interview with James Palmer, a professor of higher education at Illinois State University and Grapevine’s editor, who declared it “a marginally better year” for state fiscal support for higher education. Using data directly from the Grapevine Report, the following map highlights FY 2019 support (point-size) and percent change over the five-year period from FY 2014 to FY 2019, as well as state rankings. Read more
Student loan debt, urban wage premiums drive rural brain drain
When it comes to paying off student loan debt, rural individuals who move to metro areas fare better than those who stay, according to new research from PJ Tabit and Josh Winters of the Federal Reserve Board’s Division of Consumer and Community Affairs. Using panel data from Equifax and the New York Fed, the authors explore the relationship between the student loan balances of rural millennials and where they choose to live when they begin repayment. Their analysis offers a deeper understanding of the rural brain drain phenomenon and approaches to addressing the challenge. Read more
US Dept. of Ed rethinking higher education
A rulemaking committee, convened by the U.S. Department of Education, has begun work to rethink higher education and is considering ways to refine and streamline the accreditor recognition process and role, while also reviewing regulatory areas affecting innovation in higher education. The committee was convened to develop proposed regulations related to a number of higher education practices and issues, including: accreditation; distance learning and educational innovation; TEACH grants; and participation by faith-based educational entities. Read more
Shuttered agencies represent $38 billion in science, innovation, economic development funding
As the partial government shutdown enters its second month, the impacts across America are increasingly disruptive. The agencies that do not have a current budget were appropriated more than $38.9 billion for R&D, technology transfer, entrepreneurship, broadband, science, economic development and other activities related to regional innovation economies in FY 2018. Most of these programs stand to receive at least this amount for FY 2019. While some programs were able to spend funds from remaining 2018 dollars or from the continuing resolution that expired in December, many other activities have been delayed by more than a month — and with no clear endpoint in sight. To help your organization track the shutdown, SSTI has compiled a list of the most significant impacts on regional innovation. Read more
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