Illinois Technology Partners Policy Position
As relevant issues arise, ITP will advocate for forward-thinking policies at the State and local levels that are consistent with the principles set forth in our Mission.
Undoubtedly, given the diverse breadth of issues policymakers must understand in order to make sound legislative decisions (and the understandable competition for their attention), it takes an organized effort such as ITP to help educate legislators about emerging technologies.
And given the pace of technology and its central role in the way we live and work, it is important for the Illinois Technology Partnership to watch closely the issues that could affect our digital State and advocate for sensible legislative action on behalf of our partners and members.
ITP Testifies in IL House Computer Technology Committee
The Illinois House of Representatives’ Computer Technology Committee held a subject matter hearing on July 24, 2008 to explore the current state and future needs for improved digital government. Click here to read testimony offered by ITP Executive Director Aviva Gibbs.
ITP Supports Treasurer’s Investment in Venture Capital to Grow Tech (SB 786)
The Illinois Technology Partnership supports Senate Bill 786 which would authorize the State Treasurer to allocate more investment funds to help bolster technology business in Illinois. We believe that this bill speaks directly to the importance of boosting the Illinois’ tech community with necessary capital and encouraging more businesses to “open shop” in our State.
From the Bill Summary:
Amends the Technology Development Act. Authorizes the State Treasurer to segregate up to 2% of the Treasurer’s investment portfolio in the Technology Development Account IIa. Authorizes investments from the account to provide venture capital to help attract, assist, and retain quality technology businesses in Illinois. Contains provisions concerning soliciting proposals from entities to manage and be the General Partner of Technology Development Account IIb, consisting of investments from the private sector that must invest, at the direction of the Treasurer, in tandem with TDA IIa. Sets restrictions and conditions. Effective immediately.
More details on the legislation can be found here.
We applaud the bill sponsors for their efforts, as well as State Treasurer Alexi Giannoulias and his office for leadership on this important initiative.
SB786 passed unanimously through the Senate earlier this year. The bill is currently awaiting consideration in the House Rules Committee.
Illinois Technology Partners Events
11/19/08
“Tech & Tonic”
Time: 5:00pm - 7:00pm
Location: J.P. Kelly's:
300 E. Adams - Springfield, IL
Check out video highlights from our kick-off event here!
ITP Kick-off Policy Luncheon
THANK YOU for joining us to officially kick off the Illinois Technology Partnership!
We had a terrific turnout of over 150 government officials, advocates, and tech professionals and enthusiasts. We would like to extend special thanks to our panelists, Maura O’Hara (Illinois Venture Capital Association ), Bret Swanson (The Progress & Freedom Foundation ) and Brad Spirrison (Chicago Sun-Times/Midwest Business ) for their participation.
As you know, the luncheon focused on the need for investment and innovation in today’s rapidly changing technology market. Without smart policies to enable these mechanisms, Illinois can’t be on the cutting edge of the kind of growth we covered.
Some key points from our discussion on our “State” of tech:
• Part of the process is to educate policymakers and the public on the positive economic impact and need for venture capital investment in a competitive technology market.
• Although Illinois has the 5th largest population in the country, we have fallen behind in high-tech jobs. In order to expand tech industry jobs, Illinois needs to create a proactive public policy agenda that leaves room for growth and new ideas.
• Four states account for 85% of all venture capital and private equity dollars in the US - California, Texas, New York, and Connecticut.
• As an integral part of the Midwest, Illinois’ tech industry must have a strong and effective legislative presence in order to be a strong contender for new business and jobs.
• States with flexible and entrepreneurial policies drive job growth and lead the way (historically, we have seen these hubs on the East and West coasts.)
• Due in large part to video and other rich media, in 2007, the internet processed approximately fifteen (15) exabytes of traffic - if one volume in the Library of Congress equals about 1 megabite (MB) of data, 15 exabytes is the equivalent of 50,000 Libraries of Congress.
(For more on the “Exaflood,” watch this video in the ITP Resource Center. It says that one exabyte, if converted to DVD-quality video, would take 50,000 years to watch!)
• A recent Cisco study shows a 46% rate of growth of the internet. Other studies are more aggressive. Nemertes believes that internet traffic will increase 100% in the next year.
• A memory chip for a 4GB iPod Nano costs about $24 today. In 1992, it would have cost $500,000.
What does this all mean?
• Huge amounts of investment and new infrastructure (network upgrades, broadband deployment, new data centers, etc) is critical to not only accommodate this growth, but enable it for all of Illinois.
Time: July 16, 2008
Location: Petterino's - Chicago
