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NCOE Report Provides Policymakers with a New Vision of the Economy
The National Commission on Entrepreneurship (NCOE) has released the American Formula for Growth – Federal Policy and the Entrepreneurial Economy, 1958-1998, a report that provides an extensive review of the role of public policy during the “entrepreneurial revolution” of the past 40 years.
A two-year compilation of data and personal interviews with veteran venture capitalists, lawyers, accountants, educators and entrepreneurs, American Formula for Growth poses upcoming policy challenges that America must address to sustain continued innovation and prolong prosperity. The report recommends that policymakers execute an action plan to address specific issues that will expand and extend the entrepreneurial economy.
Along with the foundation of our constitutional and legal system, the report focuses on five key areas of public policy that contribute to the American formula for growth:
- Creating financial markets to fund entrepreneurial growth companies (EGCs);
- Providing R&D and intellectual property protection for technologies that underlie many of fast growth start-ups;
- Investing in technically talented people and enabling them to move to EGCs;
- Opening new markets for EGCs; and
- Establishing a robust and dependable infrastructure.
American Formula for Growth is available in its entirety at http://www.ncoe.org/research/4367_NCOE_AMERFORM.pdf. An executive summary of the report is separately available at http://www.ncoe.org/research/4367_NCOE_AMERFORM_EXEC.pdf.