Massachusetts remains the king of the hill in technology and science overall, according to a new study, but California overtook the Bay State in the risk capital and entrepreneurship infrastructure segment.

In a report from the Milken Institute, a Santa Monica, California, think tank, California slipped to fourth place, behind No. 2 Maryland and third-place Colorado. Rounding out the top 10 were fifth place Washington, followed by Virginia, Connecticut, Utah, New Hampshire and Rhode Island.

The previous study in 2004 placed Massachusetts first, followed by California. The report attributed California’s drop to a deterioration in its human capital, specifically the state’s failure to prepare students in grades kindergarten through 12, attract top domestic and international graduate students and pull in federal research and development dollars.

The State Technology and Science Index report was based on 77 indicators grouped into: human capital investment; research and development; risk capital and entrepreneurial infrastructure; technology and science work force, and technology concentration and dynamism.

In Human Capital Investment, for instance, Maryland was ranked No. 1, followed by Massachusetts.  California lagged at No. 13, down from its seventh-place ranking in 2004.

A newly passed $1 billion life sciences bill to invest in high-tech infrastructure and research over the next decade could help Massachusetts stay on top, the report said.

"States that have a vision and a plan for building and retaining high-wage jobs and viable industries are finding ways to invest in their science and technology assets," Ross DeVol, director of regional economics at the Milken Institute, and lead author of the study, said in a statement.

Maryland’s initiatives to attract businesses to the state and connect research institutions with industry were cited in that state’s climb from fourth place in 2004 and second this year.

For 2008, California edged out Massachusetts in the risk capital and entrepreneurial infrastructure category after placing second to the Bay State in 2004 and 2002. Metrics used to determine the ranking included IPO proceeds as a percentage of gross state product, number of business starts per 100,000 people, patents issued per 100,000 people and venture capital investment growth.

After Massachusetts, the top risk capital and entrepreneurial infrastructure states were: Colorado, Washington, New York, Maryland, Pennsylvania, Georgia, North Carolina and Arizona.

Among the big movers were North Carolina, which jumped 14 spots to 31st place and Hawaii, which climbed 11 spots to 28th. Mississippi was at the bottom of the rankings, its same position as in 2004.

For the complete report, go to: http://www.milkeninstitute.org/publications/publications.taf?function=detail&ID=38801155&cat=resrep