From: Sue Smith [
Sent: Friday, October 10, 2008 3:14 PM
To: 'Amara (home)'; 'Amara Geffen'; 'Art Heckathorn'; 'Dave Pascale'; 'Dr. Joseph Grunenwald'; Erin Chorney; Jennifer Groleau (Greenville Neuromodulation Services); 'Jim Lowry'; 'Kristin Arendash'; 'Marc Templin'; 'Michele Zieziula'; 'Mike Allyn'; 'Morris Waid'; Robert Huemmrich; 'Scott Hartle'; 'Tracey Shultz'; 'William Shields'; Amy Bridger (); Amy Keth (); Chet Kempinski; Deana Burge (); 'Deb Steiner'; 'Jim Kosco'; Larry Morgan; 'Liz Wilson'; Maggie Horne ; 'Mark Turner'; Susan Breon; Woodrow Yeaney
Subject: Weekly Update 10-10-08
Weekly NWPA KIZ Update 10/10/08
Notices from DS Bagley, Sheri & her staff:
State Budget Cutbacks
As you know Governor Rendell recently announced several austerity measures to ensure our state budget remains balanced and to ensure Pennsylvania sustains a solid fiscal position in the midst of the difficult economic conditions prevailing upon our nation and our state. Following specific instruction from the Governor’s Budget Office, DCED made appropriate changes in our FY 08-09 budget and these changes have resulted in reduced budget authority for several programs, including the Ben Franklin Technology Development Authority. At present time, staff is reviewing current allocations to determine the reduced budget amount for each program impacted. Information will be provided to you in due course.
All Keystone Innovation Grant recipients who received a check this past September have all received an email regarding this matter and a slight reduction to their reward. All questions regarding the KIG program are to be directed to the program administrator, Tom Armstrong at or 717-214-5330.
Many of you have asked when the next round of KISK funding will be available. At this point, we are unsure when and if this funding will be available in the future. The Department understands the difficulty such budget reductions may impose but we also know you join us in recognizing both the prudence of and the necessity for these actions. If you have any further questions or concerns on this matter please feel free to contact us.
Quarterly KIZ Meeting
Our next KIZ Quarterly meeting will be hosted at the Bucks County KIZ’s BiotechnologyCenter in Doylestown, PA on December 2-3, 2008. Hotel info and a general outline of the two days follow below.
Strategic Plan Update
All but Section 6 has been sent to the Board for review. Please let me know of any additions or corrections you would like to see included. Section 6 will be out by the first of the week.
KIZ Board Meeting
The next KIZ Board meeting is scheduled for October 17th at 9:30 at the Gallery Grill, 365 Mercer Road, Greenville, PA. Scott and Jim have graciously offered to provide a continental breakfast that will be available at 9:00 and then lunch after the meeting. Directions may be found at this link:
If you are unable to attend but would be available to participate by conference call the number is 866-642-1665, passcode 881441. Please let me know if you intend to call in.
Venture Capital Forum
On Thursday, I attended the NW PA Venture Capital Forum in Erie. This educational forum provided an overview of the pathway for tech start-ups to secure funding in NW PA presented by Steven Overholt, the status of VC investment resource in Pennsylvania, and three VC’s were there to explain how VC funding works. This forum concluded with presentations from three local companies as a training tool for them and those in attendance. Two of the three presentations that were presented were NW PA KIZ companies (Novocell and Clarion Research). Both did well.
IHE Meetings
I attended a meeting at ThielCollege today with Scott and the assigned interim contact person for Thiel, Roberta Leonard. Roberta will be a real help with getting the inventory sheets completed on the campus with the respective faculty.
Clarion’s meeting with faculty is scheduled for October 14th.
From Allegheny’s initial meeting I have received one inventory response. A follow-up meeting will be setup to meet with those faculty members unavailable at the last visit.
I would hope that the IHE inventory can be completed by the end of November.
Sue Smith
Manager, Business Development
NWPA KIZ Coordinator
395 Seneca Street
PO Box 1127
Oil City, PA16301
814-677-4800 x131
814-671-2548 cell
814-677-7663 fax