Kauffman President Sees Positive Signs on Horizon for U.S. Entrepreneurship
Tom McDonnell, President and CEO of the Kauffman Foundation, on Tuesday presented the organization's outlook on the current level of entrepreneurial activity in the U.S.. He began with news that there was growing national consensus that entrepreneurs can help promote growth in the sluggish economy, but cited challenges in capital financing and regulations.
New Report Outlines Strategy to "Expand the Pool of Potential High-Tech Immigrant Entrepreneurs"
Sixteen percent of all high-impact, high-tech companies include at least one immigrant, according to a new report by the Center for Technology Innovation at Brookings. They survey and consequent case studies found significant trends among immigrant entrepreneurs in the high-tech field. Respondents were found to be heavily rooted in the U.S. — 77 percent of them have become American citizens and almost 75 percent have lived in the U.S. for more than 15 years.
New Reports Outline Strategies to Support Female Entrepreneurs, Accelerate Economic Growth in Wisconsin, U.S.
Women as business owners may be an underutilized resource for economic development and growth in the state of Wisconsin, according to a recent study from researchers at the University of Wisconsin-Madison (UW-Madison) – Women Business Leaders Across Wisconsin, 1990-2011. The researchers found that women-owned or managed more than 80,000 Wisconsin-based businesses (nearly 19 percent of all businesses) in 2011.
Total Venture Capital Investment Rose 95% in Top 20 Startup Ecosystems from 2013-2014, New Report Shows
Total venture capital investment rose 95 percent in 20 of the world’s top startup ecosystems from 2013-2014, according to The Global Startup Ecosystem Ranking 2015 – a 160-report from Compass, formerly Startup Genome. Compass researchers also found that the global startup ecosystem landscape is maturing rapidly with non-Silicon Valley ecosystems capturing 14 percent more of the exit value pie in three years (2012-2014). In 2014, non-Silicon Valley startup ecosystems captured 59 percent of the value of all startup exits, up from approximately 45 percent in 2012.
State Strategic Plans Focus on Supporting S&T in Key Sectors
In an era of tightening fiscal constraints, states have to make tough decisions, establish clear economic development funding priorities and transform their economic development models to take advantage of immediate opportunities and position their state for long-term economic growth. Mississippi, Oklahoma and Washington have released state-specific strategic plans that make those tough decisions by focusing their resources on key science & technology (S&T) areas to address the economic impacts of the Great Recession and position the state for future prosperity.
St Louis Targets Entrepreneurs, Foreign-Born Residents for Economic Growth
The St. Louis Economic Development Partnership, a group created when the St. Louis County Economic Council and the city’s St. Louis Development Corp. merged last year, has released an ambitious economic strategy for the region. Planners are calling for collaboration between the region’s economic development organizations and startup initiatives, such as Accelerate St.
Federal Agencies Adopt Open Data Model to Spur Innovation, Entrepreneurship
This week, the White House Office of Science and Technology Policy (OSTP) released a wide-ranging roundup of new and ongoing efforts to leverage availability of large, accessible data sets to spur innovation. While many of these efforts were focused on supporting research on the potential of big data, several agency efforts are using the model of open data app competitions to fuel private-sector business creation.
Around the World in TBED
As global economies shift, developing nations are attempting to transition as suppliers of raw materials to nations that are producers of value-added goods. Africa has been a major supplier of raw materials to the developed world. However, it drastically lagged behind in the production of valued-added goods. Recently, African nations have attempted to reinvent their economic development efforts from suppliers to producers by developing programs to grow tech-based economies.
Report Contends Irrational and Undirected Immigration Polices Hurt U.S. Competitiveness
U.S. immigration policies are irrational and undirected according to a new report from the Partnership for a New American Economy and Partnership for New York City — Not Coming To America: Why the U.S. is Falling Behind in the Global Race for Talent. In sharp contrast, to attract immigrants that drive economic growth and increase international competitiveness, foreign countries have adopted targeted and strategic policies that include:
Innovation Advocates Call for Immigration Reform
Foreign-born inventors and entrepreneurs play a vital role in the U.S. innovation economy, yet these individuals face many obstacles if they wish to remain in the country. Last year, more than three-quarters of all patents at the top ten patent-producing universities had at least one foreign-born inventor, according to report from the Partnership for a New American Economy. The report lays out several policy changes that could help the country retain more foreign-born innovators trained at U.S.
CBO provides ideas to counter entrepreneurship’s four decade decline
Entrepreneurship in the U.S. has declined significantly over the past four decades, which has contributed to an annual productivity growth of 3 to 4 percent less than it would be if entrepreneurship had remained unchanged since the early 1980s. Those are among the findings a report from the Congressional Budget Office (CBO), which points to three contributing factors for the decline and outlines measures policymakers could put in place to help spur entrepreneurship.
White House and SBA Release Startup America "Progress Reports"
The White House released a "progress report" for Startup America—a White House and interagency initiative to "celebrate, inspire and accelerate high-growth entrepreneurship throughout the nation." The report looks at public and private sector commitments in several key areas that will improve the environment for high-growth entrepreneurship. The report also provides status updates for current and future Startup America related initiatives.