July 1, 2004 marked the start of Washington Technology Center's fiscal year for 2005 and the culmination of a successful year of accomplishments under the organization's five-year strategic plan.
WTC launched the comprehensive plan under the leadership of executive director and visionary Lee Cheatham. Poised for growth, WTC is ready to ramp up its presence throughout the state and expand its business lines to meet the economic development needs of technology companies in Washington. Much of 2004 was devoted to laying the groundwork for this expansion; 2005 will see the technology-driven economic development organization moving forward with its action plan.
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"Our strategy is definitely focused on growth," offers Lee Cheatham, WTC Executive Director. "We've got a solid foundation in place and expect a strong surge forward in the next couple of years as our programs gain momentum across the state," adds Cheatham.
Continuing a Legacy of Advancing Innovation
In FY2004, WTC expanded its Regional and Technical Services (RTS) division to include two additional programs that cater to the needs of technology companies: an angel investor network and a small business services department to offer expert counseling to small and medium sized companies.
WTC also significantly increased its statewide outreach as Washington's champion in educating technology companies about the federal government's Small Business Innovation Research (SBIR) and Small Business Technology Transfer programs (STTR). Last year WTC offered 30 educational seminars and events throughout the state, reaching more than 500 people through these programs. WTC also counseled more than 100 technology companies on the federal funding programs and the value they can provide in helping these businesses get financial assistance for research projects.
The cornerstone of RTS -- the Research and Technical Development (RTD) funding awards continues to be strong. Its value is evident in the quality of the projects being financed and the continued success of the companies that get a jump-start on their business through this program. Last year WTC supported research projects for 29 companies through the RTD awards program. The projects were conducted at University of Washington, Washington State University and Central Washington University. These initial funding awards provide a springboard for the companies to attract additional investment. The average return in investment for these awards is 11 to 1. This means that every state dollar awarded through the RTD program has been leveraged by the recipients to equal 11 times that much in additional investment.
Building a Foundation for the Future
In April 2004, WTC launched its new brand. This fresh look visually encompasses the spirit of WTC's mission, captures the technical nature of the organization, its professional and leadership capacity, and provides distinct brands for each of the organization's business lines.
WTC also added key staff to drive its new programs. At the operations level, Chris Coleman was brought in as director of finance & operations to guide the fiscal growth set forth in the strategic plan. Elaine Kong was hired to lead WTC's new Small Business Services program.
Setting the Stage for the Industries of Today and Tomorrow
WTC's Industries of Distinction program was created to develop and support new industries in Washington that show promise in contributing to the region's economic growth and global competitiveness.
The Northwest Energy Technology Collaborative (NWETC) is the flagship model under this program. NWETC has grown into a regional powerhouse with partnerships extending across the Pacific Northwest region of the U.S. and Canada. NWETC now has nine regional partners driving its efforts forward with respect to positioning the region as a global leader in sustainable, renewable and innovative energy technologies.
In addition to energy, WTC is also targeting development efforts around other key industries in Washington including nanotechnology, biotechnology/biomedicine and defense/security.
"It makes strategic sense to be proactive in assessing our state's technology future and how can we promote it," notes Al Erisman, Chairman of WTC's Board of Directors and Co-founder and Executive Director of the Institute for Business, Technology & Ethics (IBTE) "We already have a great head start with energy and nanotechnology is just taking off," he continues. "To be competitive, we need to evaluate our assets and any gaps in our infrastructure."
"Our goal is not be exclusionary," Erisman explains. "Rather, we're choosing to focus on industries that have high potential in the near future to impact the economy."
Research Facility Draws Worldwide Attention
WTC played a critical role in advancing interest in MEMS (micro-electromechanical systems) technology in Washington through its Microfabrication Laboratory. The demand for a facility of this status continues to increase and WTC's Microfab Lab has proved to be the ideal environment for innovative research, process development and prototyping for a growing number of industries.
WTC continues to ensure the value of the facility by procuring new equipment and processes that allow researchers to evolve their work. Access, affordability, scalability and expert staffing continue to be assets that attract clients to the laboratory. WTC recently added a Scanning Electron Microscope (SEM) and a sputter tool to the lab. WTC also hired senior engineer, Dr. Hopper Chu, a respected researcher with an impressive background in product development and research.
Word is getting out about this facility, once referred to among researchers as "Washington's best kept secret." The lab continues to be one of WTC's strongest assets. It is a shining example of how important it is for a state to invest in long-term infrastructure that will meet the needs of its current and emerging industries.
Connecting Communities Across Washington
WTC's focus for 2005 also includes increasing support for the Investing in Innovation Trust Fund, a state fund that provides financial investment in transitional or late-stage research for technologies with the commercial potential to contribute to Washington's economy. Specific industries include energy, biotechnology, and telecommunications. WTC oversees the Research and Technology Transfer Commission which is conducting a state assessment study to look at how to best leverage these funds. The study will be released in October 2005.
Under the new strategic plan, WTC is also increasing its reach and visibility in communities throughout the state, primarily in those regions where technology growth is imminent. Two areas of focus in the coming year are Tri-Cities, and Vancouver. Both these regions have strengths that make them good candidates for technology industry growth. To assist in these efforts, WTC is collaborating with regional partners to make both the companies and their support networks more aware of programs that speak to their needs. These include educational seminars on private investment opportunities and federal funding programs as well as industry networking, and infrastructure development.
"We are a statewide agency and we will continue to serve all of Washington," reinforced Cheatham. "However, we are also looking at a greater presence in regions where it makes sense for us to be accessible to technology companies who want to grow in the communities where they started."
"We want to encourage that kind of win-win situation by offering support where it's most needed," says Cheatham. "Right now that means programs, events and economic partnerships. In the near future, it may be direct personnel. You could see branch offices of WTC opening up in communities around the state."
With a solid growth strategy underway, WTC is moving forward with its mission to reinforce Washington's strengths as a technology-rich region and continue to lead the state's efforts to provide a strong support network for both new and established technology companies.
Related WTC links:
WTC's Strategic Plan 2003-2008
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WTC launched the comprehensive plan under the leadership of executive director and visionary Lee Cheatham. Poised for growth, WTC is ready to ramp up its presence throughout the state and expand its business lines to meet the economic development needs of technology companies in Washington. Much of 2004 was devoted to laying the groundwork for this expansion; 2005 will see the technology-driven economic development organization moving forward with its action plan.
- more in full post -- continued below -
"Our strategy is definitely focused on growth," offers Lee Cheatham, WTC Executive Director. "We've got a solid foundation in place and expect a strong surge forward in the next couple of years as our programs gain momentum across the state," adds Cheatham.
Continuing a Legacy of Advancing Innovation
In FY2004, WTC expanded its Regional and Technical Services (RTS) division to include two additional programs that cater to the needs of technology companies: an angel investor network and a small business services department to offer expert counseling to small and medium sized companies.
WTC also significantly increased its statewide outreach as Washington's champion in educating technology companies about the federal government's Small Business Innovation Research (SBIR) and Small Business Technology Transfer programs (STTR). Last year WTC offered 30 educational seminars and events throughout the state, reaching more than 500 people through these programs. WTC also counseled more than 100 technology companies on the federal funding programs and the value they can provide in helping these businesses get financial assistance for research projects.
The cornerstone of RTS -- the Research and Technical Development (RTD) funding awards continues to be strong. Its value is evident in the quality of the projects being financed and the continued success of the companies that get a jump-start on their business through this program. Last year WTC supported research projects for 29 companies through the RTD awards program. The projects were conducted at University of Washington, Washington State University and Central Washington University. These initial funding awards provide a springboard for the companies to attract additional investment. The average return in investment for these awards is 11 to 1. This means that every state dollar awarded through the RTD program has been leveraged by the recipients to equal 11 times that much in additional investment.
Building a Foundation for the Future
In April 2004, WTC launched its new brand. This fresh look visually encompasses the spirit of WTC's mission, captures the technical nature of the organization, its professional and leadership capacity, and provides distinct brands for each of the organization's business lines.
WTC also added key staff to drive its new programs. At the operations level, Chris Coleman was brought in as director of finance & operations to guide the fiscal growth set forth in the strategic plan. Elaine Kong was hired to lead WTC's new Small Business Services program.
Setting the Stage for the Industries of Today and Tomorrow
WTC's Industries of Distinction program was created to develop and support new industries in Washington that show promise in contributing to the region's economic growth and global competitiveness.
The Northwest Energy Technology Collaborative (NWETC) is the flagship model under this program. NWETC has grown into a regional powerhouse with partnerships extending across the Pacific Northwest region of the U.S. and Canada. NWETC now has nine regional partners driving its efforts forward with respect to positioning the region as a global leader in sustainable, renewable and innovative energy technologies.
In addition to energy, WTC is also targeting development efforts around other key industries in Washington including nanotechnology, biotechnology/biomedicine and defense/security.
"It makes strategic sense to be proactive in assessing our state's technology future and how can we promote it," notes Al Erisman, Chairman of WTC's Board of Directors and Co-founder and Executive Director of the Institute for Business, Technology & Ethics (IBTE) "We already have a great head start with energy and nanotechnology is just taking off," he continues. "To be competitive, we need to evaluate our assets and any gaps in our infrastructure."
"Our goal is not be exclusionary," Erisman explains. "Rather, we're choosing to focus on industries that have high potential in the near future to impact the economy."
Research Facility Draws Worldwide Attention
WTC played a critical role in advancing interest in MEMS (micro-electromechanical systems) technology in Washington through its Microfabrication Laboratory. The demand for a facility of this status continues to increase and WTC's Microfab Lab has proved to be the ideal environment for innovative research, process development and prototyping for a growing number of industries.
WTC continues to ensure the value of the facility by procuring new equipment and processes that allow researchers to evolve their work. Access, affordability, scalability and expert staffing continue to be assets that attract clients to the laboratory. WTC recently added a Scanning Electron Microscope (SEM) and a sputter tool to the lab. WTC also hired senior engineer, Dr. Hopper Chu, a respected researcher with an impressive background in product development and research.
Word is getting out about this facility, once referred to among researchers as "Washington's best kept secret." The lab continues to be one of WTC's strongest assets. It is a shining example of how important it is for a state to invest in long-term infrastructure that will meet the needs of its current and emerging industries.
Connecting Communities Across Washington
WTC's focus for 2005 also includes increasing support for the Investing in Innovation Trust Fund, a state fund that provides financial investment in transitional or late-stage research for technologies with the commercial potential to contribute to Washington's economy. Specific industries include energy, biotechnology, and telecommunications. WTC oversees the Research and Technology Transfer Commission which is conducting a state assessment study to look at how to best leverage these funds. The study will be released in October 2005.
Under the new strategic plan, WTC is also increasing its reach and visibility in communities throughout the state, primarily in those regions where technology growth is imminent. Two areas of focus in the coming year are Tri-Cities, and Vancouver. Both these regions have strengths that make them good candidates for technology industry growth. To assist in these efforts, WTC is collaborating with regional partners to make both the companies and their support networks more aware of programs that speak to their needs. These include educational seminars on private investment opportunities and federal funding programs as well as industry networking, and infrastructure development.
"We are a statewide agency and we will continue to serve all of Washington," reinforced Cheatham. "However, we are also looking at a greater presence in regions where it makes sense for us to be accessible to technology companies who want to grow in the communities where they started."
"We want to encourage that kind of win-win situation by offering support where it's most needed," says Cheatham. "Right now that means programs, events and economic partnerships. In the near future, it may be direct personnel. You could see branch offices of WTC opening up in communities around the state."
With a solid growth strategy underway, WTC is moving forward with its mission to reinforce Washington's strengths as a technology-rich region and continue to lead the state's efforts to provide a strong support network for both new and established technology companies.
Related WTC links:
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Labels: WTC_News
