Thursday, October 22, 2009

TechColumbus wins National Award for Excellence in Tech-Based Economic Development (TBED)

OVERLAND PARK, Kan., Oct. 22 /PRNewswire-USNewswire/ -- Capturing national attention for initiating successful programs to sustain the nation's position as a global leader for innovation and competitiveness, six organizations were named recipients of SSTI's 2009 Excellence in TBED Award. The third annual awards follow a nationwide competition recognizing outstanding achievements in tech-based economic development (TBED) emphasizing impact, strategic value and replicability.
"The impressive stories behind each of these six initiatives illustrate how strategic TBED investments work to promote regional growth through science and innovation," said Dan Berglund, SSTI President and CEO. "These organizations serve as best practice models in the field for their demonstrated leadership and meaningful impact to state and regional economies."
Recipients were honored today during a ceremony at SSTI's 13th Annual Conference in Overland Park, KS, attended by top economic development professionals from across the nation. The following initiatives were selected to receive the Excellence in TBED Award for 2009:

  • TechColumbus TechStart Program -- Building Entrepreneurial Capacity Category
The TechColumbus TechStart Program supports and develops viable entrepreneurial companies from their earliest phase through their launch as significant economic contributors. The TechStart team, in collaboration with its partners, has invested $11.5 million directly in technology startups, resulting in the creation of 912 jobs having an average annual salary of more than $62,000. The team serves startups located in its business incubator and across the 15-county Central Ohio region. The TechColumbus mission also includes programs and services that build a highly networked technology community through events, membership and marketing.

  • JumpStart Inc. -- Increasing Access to Capital Category
Established in 2004, JumpStart is an innovative venture development organization that accelerates the growth of high potential, early-stage businesses by improving their success in achieving the milestones and raising the capital necessary for rapid growth. JumpStart invests capital in the most promising of companies, with an average investment of around $350,000. Since its inception, JumpStart has invested in 40 portfolio companies and worked with almost 400 others, assisted companies in raising $140 million in external funding, and created a total economic impact of $177 millio

  • James & Esther King Biomedical Research Program -- Expanding the Research Infrastructure Category
Florida's James & Esther King Biomedical Research Program is producing outcomes by expanding the state's research capacity while making significant contributions to biomedical knowledge. Established by the legislature in 1999 and run out of the Florida Department of Health, the program fills a unique niche by funding research of tobacco-related diseases. To date, the program has made 143 awards to Florida researchers totaling more than $58.6 million through merit-based competitions. This investment has generated nearly $88 million in follow-on funding to expand or continue investigator projects.
  • Washington Technology Center Research & Technology Development Program -- Commercializing Research Category
For nearly two decades, the Research & Technology Development (RTD) Program, a flagship program of the Washington Technology Center, has helped fill a critical role in enhancing Washington state's efforts in commercializing research by bringing companies and university researchers together. Since 1995, the program has awarded more than $21 million to 335 projects. RTD program companies and researchers have leveraged this funding to attract an estimated $480 million in additional federal and private support.
  • Connecticut Center for Advanced Technology, Inc. (CCAT) Education Initiative -- Enhancing the Science & Technology Workforce Category
CCAT's Education Initiative has established a core philosophy for the development of K-12 programs that emphasizes experiential, authentic learning and focuses on meeting the demands of the digital workplace by exposing students and teachers to real-world high technology applications. Over 1,200 students from both Connecticut and across the country have participated in CCAT's informal education programs in aerospace, alternative energy, and advanced manufacturing. Additionally, CCAT's professional development programs have trained more than 65 science, math, and technology education teachers over the last three years.
  • Innovation Works Innovation Adoption Grant Fund -- Improving Competitiveness of Existing Industries Category
The Innovation Adoption Grant (IAG) Fund pairs small manufacturing companies with nonprofit centers of excellence, which help the companies develop new products or create new and better manufacturing processes. Since 2004, the IAG Fund has awarded more than $1.5 million to more than 100 companies, generated an additional $2 million in matching investment in R&D from private industry, and created or retained more than 800 jobs with an average annual salary of $45,000.
Following an open call for entries earlier this year, applicants were invited to share their accomplishments in the form of a narrative built around an identified need, effective approaches to addressing the need, and impact realized from the effort. Recipients were selected by a panel of accomplished former and current practitioners serving as judges.
About SSTI
The State Science and Technology Institute is a national nonprofit organization that leads, supports and strengthens efforts to improve state and regional economies through science, technology and innovation.
SOURCE State Science and Technology Institute


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