The Australian Strategic Policy Institute’s (ASPI) report, ASPI’s two-decade Critical
Technology Tracker: The rewards of long-term research investment, aims to identify
which countries and institutions are leading in high-impact research across 64 critical
technological domains, including defense, space, energy, environment, artificial
intelligence, biotechnology, robotics, cyber, computing, advanced materials, and
quantum technologies. The tracker's methodology involves analyzing the top 10% of
highly cited research publications in each critical technology. According to ASPI, this
approach emphasizes research that significantly influences the technological lifecycle
and is likely to lead to patents and breakthroughs. The dataset spans from 2003 to
2023, allowing for both short-term (five-year) and long-term (21-year) trend analyses. 

The report’s key finding is a change in global leadership. Data from the first five years

In fiscal year (FY) 2023, federal obligations for science and engineering (S&E) to universities and colleges totaled $49 billion—$29 billion more than FY 2000, and a 10% increase from the prior year. The growth is less rapid when adjusted for inflation (2017 USD), with just over $40 billion in real obligations in FY 2023, a 5% increase over the year prior and $12.6 billion (or 46%) increase over the FY 2000 value. Each year, approximately 90% of these federal obligations for higher education S&E are allotted to R&D activities, directly supporting key innovation activities nationwide.

This article uses data from The Survey of Federal Science and Engineering Support to Universities, Colleges, and Nonprofit Institutions—the sole source of comprehensive, institutional-level data on federal science and engineering funding to academia and nonprofits—to provide breakdowns of federal obligations for S&E to universities and colleges at the national and state levels.

Many SSTI members will attend the annual BIO International Convention, which will be held this year in Boston from June 16 to 19. There, they join a cohort of organizations with various connections to the life sciences, including contract research and manufacturing companies, academic centers, "big" pharma, "little" pharma, and foreign nations representing their life sciences efforts. 

With Q1 2025 venture capital (VC) data stabilized and reports coming out on investment activity, it is a good time to review 2025 VC investment from a TBED perspective. Many published reports on VC activity include deals at the top end of the size range that—with individual transactions now reaching- billions of dollars—can swing some of the metrics and mask the underlying nuances facing smaller companies and markets. While investment levels are trending up, the totals are driven by mega deals and AI companies. Looking deeper into the numbers, there appears to be a broad shift away from smaller investments toward larger deals. This shift raises important questions for publicly supported innovation finance programs intended to close financing gaps and provide technical assistance that prepares companies for larger investments. 

The U.S. Small Business Administration posted a notice in the June 9, 2025, Federal Register of SBA’s intent to establish a Manufacturing in America Advisory Committee to “provide strategic guidance, advice, and recommendations to the U.S. government and relevant stakeholders on matters related to growth, supply chain resilience, and innovation of small manufacturing businesses across the country. The committee will act as the collaborative body to ensure the sector's needs, challenges, and opportunities are addressed. The committee's mission over the next two years will focus on supporting economic growth, job creation, on-shoring of critical manufacturing capabilities, and global competitiveness.”

Adrienne Johnson, committee management officer in the Office of the Administrator, is listed as the SBA contact for those seeking more information. (202) 205-6685 or FACA@sba.gov.

The U.S. Department of Commerce recently announced that the agency formerly known as the U.S. AI Safety Institute has been renamed the Center for AI Standards and Innovation (CAISI)The center’s priority focus areas also have been adjusted so that CAISI can serve as industry’s primary point of contact within the U.S. Government to facilitate testing and collaborative research. According to the Commerce announcement, CAISI will:

In 1978, Massachusetts took a risk and made an $8.5 million investment into one of the earliest technology-based economic development (TBED) initiatives in the world. The commonwealth, among the states hard-hit by the global manufacturing restructuring underway at the time, which led to the deep recession of the early 80s, knew it needed to try something different to restore its economy and its long-term competitiveness. A new independent impact analysis of the cumulative impact from what became known as MassVentures, spanning its 46-year history, should serve as an example of what public seeding and sustained support for TBED can deliver as a highly effective, game-changing economic development strategy. 

MassVentures President and CEO Charlie Hipwood said at the report’s release, “MassVentures is one of the most successful and impactful government-initiated programs on a per dollar basis in the United States.” The annualized impact figures and VC-envying returns bear out the proud statement.