3 resolutions for 2010
December 23, 2009
For the last or one of the last blog posts of the year, I wanted to highlight three things that should be resolved to be implemented in 2010 to build the entrepreneurial economy both nationally and locally:
NATIONAL:
Startup Visa: This idea has picked up steam. I am an opponent of illegal immigration but believe we need a coherent policy to address legal immigration. The startup visa makes sense. Bring the best and brightest from around the world here if they will start a company and employ Americans.
Entrepreneurship education in schools: The skills of an entrepreneur are skills that can help someone through out their life. If we focused on training people early in their life these skills and the concepts of risk verse reward then we would set up a large portion of our population to be self sufficient and productive. everyone would benefit from this. This includes adding some entrepreneur classes or program as part of PhD programs.
Locally:(Kentucky)
Expand State SBIR/STTR matching funds program: This program is unique and sets the state aprt. This type of no-dilutive funding is critical for the growth of these startups and provides lots of high-quality job creation. Funding for this program has always been minimal and the state should set a goal to match every award made to a Kentucky company or one willing to move here. The impact of this is much greater than the traditional type of economic development which is ineffective.
Summitt Biosciences receives 250K
December 14, 2009
Summit Biosciences, a specialty pharmaceuticals business will expand its operation investing over $5 million in new people & facilities. The company received 250K from the state’s high-tech investment pool.
Summit develops and manufactures generic prescription and new over-the-counter (OTC) pharmaceutical products administered to patients by means of a nasal spray. The company is also developing new OTC nasal spray products for which it will apply for patents and plans to begin manufacturing in the first quarter of 2010. To date, Summit has secured a partnership with a publicly traded generic-drug manufacturing company to jointly develop generic versions of five FDA-approved nasal spray products, including one to treat osteoporosis and others used to treat migraine headaches. The company has also secured a contract manufacturing agreement with a company to develop and make a new nasal spray product to treat pain.
Buildycrunken equals collaboration
December 7, 2009
This is a guest post by Todd Willey about an event collexion, the local hacker co-op put on a few weeks ago. Unique and new events like this help juice creative thought and collaboration and can lead to the next new thing
It is important for a creative community to have spaces and associations that not only allow free expression, but encourage new modes of collaboration and community building. When people are in a comfortable environment with comforting people, they dare to find new modes of expression and prototype new ideas. When failure is tolerated and experimentation is encouraged, people will try bold, new things and people will have fun.
Buildycrunken is an event that hosts creative participants in a comfortable atmosphere. Buildycrunken #1: Hocus Focus was the inaugural event of a new outlet for creativity. Hosted at Third Street Stuff in Lexington, the event encouraged people to get the ideas they have floating around in their mind out into the world. Running from Friday evening into Saturday morning people were able to reclaim the time they usually spend in sleep or toiling in isolation to be part of making wonderful new things or completing pet projects they may have let fall through the cracks.
There was a diverse showing of people. The concept originated from Collexion, Lexington’s hackerspace, and was built from the ground up to accommodate as may people as possible. Other groups that made it an official gathering include ReBelle Stitch ‘n Bitch, National Novel Writers’ Month, and the Kentucky Ruby Users Group. There was a solid showing of people coming on their own, as well. The turnout was amazing, the coffee shop was at or above capacity until well past midnight.
By any measure it was a success. The sheer number of people turning out, the amount of work that got done, and the new connections and friendships that were built all point to the effectiveness and need for this type of event. Software, music, mittens, game scenarios, jewelery, books, and art were all created overnight, and the next morning new friends went to get breakfast together. Whenever the worst that can be said about an event is that it was hard to find a place to sit, it indicates that something good is happening.
There will be other Buildycrunken events in the future, because it seems people will always take advantage of an opportunity to be more creative. There are plans in the works now to start an event that will be interleaved with Buildycrunken events, a forum for people to demonstrate the skills they ply during their creative times, and teach those that are interested. With the cross-pollination and encouraging spirit of these events, grassroots growth and a legitimate creative culture are going to continue to grow in Lexington.
Kentucky ranked 22nd for small business Policy environment
December 2, 2009
Kentucky ranked 22nd for its business climate in a report from the Small Business & Entrepreneurship Council, a lobbying and policy group. The council assigned index numbers ranging from 25.693 for South Dakota — deemed the friendliest state for small business — to 84.795 to the District of Columbia — the least friendly. Click Here for full report.
The state’s best ranking: 3rd for electric utility costs
The state’s worst ranking: 36th for Workers’ Compensation Benefits Per $100 of Covered Wages
Other notable areas: 7th for property taxes, 32nd for number of state and local government employees.
