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Kansas Technology Enterprise Corporation: Stimulating Technology-Based Economic Development In Kansa

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The state of Kansas experienced an economic slump from the early eighties to the mid-eighties. Most of the major industries in the state such as oil & gas and agriculture were not performing too well.

This was when the Kansas Advanced Technology Commission (KATC) was born. The KATC, created in 1983 was meant to provide support to technological projects in the state of Kansas. KATC is the predecessor of the Kansas Technology Enterprise Corporation (KTEC). During that period, the KATC saw that focusing on technology instead of the traditional industries such as oil& gas, aviation and agriculture could help the state rise from the economic slump. Today, the KTEC continues to support technological projects and companies to push for the economic development in the state.

The KTEC was formed in 1987 based on the recommendations made after the governor of the state, legislators and other individuals from the public and private sectors met to discuss the economy of the state and how technology can help it. The Kansas Technology Enterprise Corporation is a partnership between the private and public sectors and is meant to promote technological advancements in the state of Kansas.

By supporting companies that focus on technology and by providing support for research and development to organizations and companies through the Centers of Excellence, the KTEC hopes to stimulate economic growth in this state. The KTEC provides direct equity investments to companies that are in their early stages. The company also provides funding for companies that do applied research. The direct investments and the funding for research provide a big boost to start-up technology-focused companies.

The KTEC primarily supports the following research programs--the Centers of Excellence, the Experimental Program to Stimulate Competitive Research (EPSCoR) and the Strategic Technology and Research (STAR) Fund. The Centers of Excellence are located in state universities and serve as research labs for products and technologies. The Experimental Program to Stimulate Competitive Research is a funding program for science and engineering in state universities in the state. The Strategic Technology and Research Fund is a funding program for strategic technology niches. The funding is evaluated based on what projects and technological niches will bring the most benefit to the economy of the state.

Apart from the support offered to technology-focused companies, the KTEC also supports the Bio sciences efforts in the state. The KTEC plays a central role in the development of Bio sciences in the state of Kansas. The bio sciences sector is supported under the Kansas Economic Growth Act. The goal is to make the state the leader when it comes to Bio sciences. The KTEC sponsors the Kansas Bio science and Innovation Road map. The Road map is meant to steer the state into a clear direction when it comes to the Bio science industry.

The group also provides information resources and technological news to its members and partners. With the efforts put in by KTEC and with the support from the Administrative and Legislative Sectors of the state, Kansas is positioned to become a major player in the fields of science and technology.

Article Source: http://bytepowered.org/articles

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