DCED.tio.aicup 10.26.11


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This presentation describes the various initiatives managed by Pennsylvania's Department of Community and Economic Development's Technology Investment Office.

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DCED.tio.aicup 10.26.11

  1. 1. Association of Independent Colleges Universities of Pennsylvania Overview of Technology Investment Office October 25, 2011 1
  2. 2. Mission The mission of the Technology Investment Office is to strategically support programs and investments which create a continuum of financial and technical services to advance the creation, growth, success and global competitiveness of Pennsylvania’s companies and universities. TIO’s Goal  The goal of the TIO is to ensure that the variety of TBED organizations and initiatives located throughout the state are working collaboratively to fully leverage the wealth of research, capital sources, and support services available to build a comprehensive infrastructure that supports company growth. TIO’s Customers  Pre-revenue, emerging and mature technology companies  Universities engaged in R&D that can be commercialized  Community organizations focusing on technology infrastructure, training and facilities  Investment community2
  3. 3. Technology-Based Economic Development• Expanding PA’s Economy Through Innovation – Technology will drive the economies of the future • New technologies and new industries • New technologies applied to traditional industries• Distinctly different than Traditional Economic Development – Required Elements: • Intellectual Infrastructure • Mechanisms for Transferring Knowledge • Highly Skilled Workforce • Risk Capital • Industries/firm based strategies – Creates a supportive environment for innovation and 3 entrepreneurship - not bricks and mortar funding
  4. 4. Importance of TBED • Translation of new discoveries into the marketplace • Jobs created are high salaried/high value jobs • Targets emerging and growth industries • Creates private/public collaborations and partnerships focus on the “pull” of new technology • Drives workforce development to focus on new skills • Leverages non-state funds4
  5. 5. Industry Clusters5
  6. 6. Pre-Revenue________________________________________________________________________ _ Valley of Death6
  7. 7. History of TIO Budget $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 BFTDA Total $40,000,000 TIO Budget $30,000,000 $20,000,000 $10,000,000 $0 FY 06-07 FY 07-08 FY 08-09 FY 09-10 FY 10-11 FY 11-12 Additional Funds for FY 2011 -2012: •Federal Broadband Funds – ARRA •Energy Funding •Venture Returns •State Small Business Credit Initiative7
  8. 8. TIO Metrics • From July 2006 through June 2010, 1,191New Companies have been formed due to TIO assistance • 24,294 Businesses have been assisted through TIO programs since July 2004 • 87,042new jobs have been created/retained from July 2004 through June 2010 • $6.526 billion has been leveraged since July 2004 • Metrics collected through semi-annual surveys – actual jobs reported, new companies formed, businesses assisted and leveraged funds8
  9. 9. Current Technology Programs• Technology Authority Portfolio – Keystone Innovation Zones/Innovation Grant Program – University Commercialization • Pending Nanotechnology Funding – Ben Franklin Technology Partners (including energy funding) – Venture Capital Investments (17 PA funds) – Technology Development Program (PennTAP, Innovation Partnership)• Life Science Greenhouses• Broadband Initiatives – Outreach and Aggregation (state funding) – Technical assistance for businesses (federal ARRA 9
  10. 10. Technology Programs, con’t• KIZ Tax Credits - $25 million annually• R&D Tax Credit Sale Program• Workforce Development Programs – 2+2+2 career pathways – PSU Nano semester• Manufacturing – Powdered Metal Initiative – Agile Mfg (Lehigh University) & PA Infrastructure Tech Alliance – Manufacturing Ombudsman (vacant)• Tobacco Settlement Fund – Significant venture fund investments in PA 10 – CURE Funding – university R&D (Dept. of Health)
  11. 11. DCED Initiatives for TBED• Focus on ensuring growth capital for PA early stage tech firms and existing firms• Emerging industry investments – Nanotech Funding• Improve the impact of the existing TBED Network of providers – Improve collaborative research, tech transfer with IHE’s – Deploy tools to support technology acceleration – University IP Policies• Advanced manufacturing – Nat’l Governor’s Association: PA selected as one of seven states to develop an advanced manufacturing state strategy 11
  12. 12. Questions?Contact:Tom PalisinActing Deputy SecretaryTechnology Investment Officetpalisin@pa.gov717-787-4147 12
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