international

The Department of Homeland Security has recently announced its withdrawal of the previously proposed removal of the International Entrepreneur Parole Program. The program allows for DHS to use its parole authority to grant foreign entrepreneurs a period of authorized stay within the United States with the aim that their start-up business can serve as a public benefit through job creation and economic development.

As the most ambitious innovation initiative that Europe has ever undertaken, the European Union (EU) recently launched the European Innovation Council (EIC) with a €10 billion (about $11.7 billion USD) fund that will provide both non-dilutive grants to and direct equity investments in innovative startups within the union. After a successful three-year pilot, the EIC is merging with the current Executive Agency for Small and Medium-sized Enterprises, and has already launched its first official program with a call for proposals worth €1.5 billion (approximately $1.8 billion USD).

Earlier this week, the United Kingdom announced a £1.25 billion ($1.6 billion) initiative to support the country’s startups. One program within the initiative provides £500 million in the form of loans up to £5 million that are matched by private funders to companies that have raised at least £250,000 in the last five years. The remaining £750 million will be managed by Innovate UK and provide loans and grants to R&D-focused companies. The U.K.

The U.S. continues to be the global leader in total R&D expenditures, spending $483 billion (adjusted to 2010 purchasing parity dollars) in 2017 compared to China’s expenditures of $443 billion. However, according to a recent publication from the National Science Foundation, China surpassed the U.S. in expenditures on experimental development in 2014 and has since continued to increase its lead.

Concerns over national security have prompted the Treasury Department’s Committee on Foreign Investment in the U.S. (CFIUS) to force international investors to divest from two American tech startups, a move that will affect entrepreneurs and investors alike, according to a recent article by from Jeff Farrah of the National Venture Capital Association.

The circular economy, a phrase meant to redefine economic growth beyond the current “take-make-waste” extractive industrial model, is gaining attention around the world as a way to produce more positive environmental and social benefits. Over the past few months, three cities have announced efforts to promote circular economy startups.

The state of America’s foreign policy and the livelihoods of its middle-class are inextricably linked, according to a new report from Ohio State’s John Glenn College of Public Affairs and Carnegie Endowment for International Peace. The report’s authors, using Ohio as a lens for their examination, conduct a thorough quantitative and qualitative analysis on this relationship.

The governments of France and Canada said last week they would create a joint International Panel on Artificial Intelligence (IPAI) to study and respond to the changes resulting from artificial intelligence and facilitate an international collaboration focused on sharing research and best practices.

For the first time, the Chinese venture capital (VC) market has surpassed the U.S. VC market in total dollars invested in Q2 of 2018, according to Crunchbase. Driven by mega rounds and strong corporate VC, Chinese startups were able to raise more VC money in Q2’18 than their American counterparts. The strong Q2 for Chinese’s firms was driven by a very strong April.

As part of the country’s single biggest investment in science in 40 years, the UK unveiled a new investment in UK talent and skills aimed at growing and attracting the best in science and innovation. Last week, UK business secretary Greg Clark outlined a £1.3 billion ($1.72 billion) investment for British universities and businesses to develop the next generation of entrepreneurs, innovators and scientific leaders.