U.S. Sen. Maggie Hassan (D-NH) hosted her 5th annual Innovate New Hampshire Entrepreneurship Forum this morning as part of her efforts to support New Hampshire’s innovators and entrepreneurs and ensure that they have the tools that they need to launch innovative businesses and thrive.

“Innovate New Hampshire is a prime example of Granite Staters coming together to discuss opportunities and challenges facing our businesses – and the work they do to help build a stronger economic future,” said Senator Hassan. “I thank the panelists and Granite Staters that were able to join today as we celebrate our state’s success in innovation and technology, and I will continue to make sure that our businesses have the resources that they need to discover the next great idea – and make it a reality.”

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The panelists included:

Mayor Joyce Craig, City of Manchester

Mike Vlacich, Regional Administrator, U.S. Small Business Administration

Dan Weeks, Vice President of Business Development, Revision Energy

Marian McCord, Vice Provost, University of New Hampshire

Dr. Patrick Magari, President, Creare

Dr. Jay Rozzi, Vice President, Creare

Maureen Toohey, Deputy Executive Director, Advanced Regenerative Manufacturing Institute (ARMI)

At the top of the conversation, Mike Vlacich shared the importance of innovation to small businesses and the state’s economy. “It’s important that we start the conversation about innovation by talking about small businesses. They’re 99 percent of the businesses in New Hampshire, and they account for 50 percent of the employees in the state of New Hampshire,” said Vlacich.

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As the forum progressed, topics covered included:

R&D Funding

When asked by Senator Hassan about the impact of R&D funding on UNH’s ability to do research, Marian McCord explained, “New Hampshire, and UNH specifically, are clearly ahead of the competition. University research activity in New Hampshire outpaces the nation by more than 46 percent, adjusted for the size of the state economy.”

McCord outlined the impact that federal funding has on UNH’s research capabilities: “In 2022, we were awarded a record-breaking $260 million in research dollars, and most of that funding comes from federal grants that UNH competes for and wins, often over larger and more well-resourced institutions.”

As Governor of New Hampshire, Senator Hassan doubled the supply of state R&D tax credits and made the credit permanent, and she recently helped pass into law her bipartisan measure that doubled the R&D tax credit for small businesses and startups. Senator Hassan helped develop and pass into law the bipartisan CHIPS and Science Act to support our supply chains, lower costs, and help America outcompete countries like China by investing in research and manufacturing here at home.

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Clean Energy Economy

Federal investments in the clean energy economy have helped spur economic activity and grow our workforce, further explained by Dan Weeks: “The Inflation Reduction Act that you [Senator Hassan] and your colleagues in the Senate and the House passed over the summer is a game changer. It’s the largest measure ever taken by the federal government – in fact, I think by any government anywhere in the world – to accelerate investment in the clean energy economy and to take bold climate action.”

He continued: “The Inflation Reduction Act is enabling more and more nonprofits, businesses, and municipalities. It’s allowing these entities that are supported by taxpayers to reduce tax expenditure on energy, as well as privates, nonprofits, and homes, and to invest in clean energy.”

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Leading the Future of Biofabrication

This fall, Hassan helped secure a $44 million grant to the BioFabrication Cluster, led by the City of Manchester, to establish a biofabrication cluster in Southern New Hampshire.

“ARMI and BioFab, a DoD-funded institute within ARMI, are working on the advanced biomanufacturing of cells, tissues, and organs, really building on some of the very creative biomedical engineering and biomedical manufacturing that has taken place in New Hampshire with companies like DEKA for 40 years,” said Maureen Toohey.

Of the project and its impact, Mayor Craig said that “because of the work that’s happening right here in Manchester’s Millyard, we are revolutionizing the way that we deliver health care.”

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Federal Investments in Small Business Innovation

Senator Hassan highlighted New Hampshire’s leadership in establishing federal support for innovation in small businesses through the Small Business Innovation Research program, and Patrick Magari and Jay Rozzi of Creare discussed how it has impacted their company.

“Creare collaborated with New Hampshire’s Senator [Warren] Rudman back in 1982 to create the legislation, and we’ve been involved in every reauthorization since,” said Dr. Magari. “The program has been a very important tool used by many government agencies to meet a variety of mission objectives. It has also been a vital means for Creare and many other small companies to develop high-risk technologies and deliver them to government clients, industrial clients, consumers, etc.

Dr. Magari summarized: “From our perspective, this has been a very successful program and every time it has been reauthorized, it is strengthened more.”

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Recruiting a 21st-Century Workforce

In response to a viewer question, the panelists discussed how to recruit and retain a 21st century workforce in STEM fields, in addition to ensuring that women and girls have the opportunity to succeed in STEM.

“Girls and young women are underrepresented in the STEM fields. We know that girls and young women get interested in doing STEM when they understand the qualitative difference they can make by engaging in these fields,” said Senator Hassan. “It’s about presenting girls with the opportunity to solve a problem that will help people.”

“If you are a STEM technology company or have an innovative way to connect students to learning, please reach out,” said Maureen Toohey, a sentiment echoed by McCord and Mayor Craig. “It’s by adding all of these resources together that a small state like New Hampshire can be a national leader.”

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