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National Entrepreneur Day Message from the Commerce Department

Thom Ruhe on November 19, 2010 Source: e360 Blog


"During National Entrepreneurship Week, we renew our commitment to supporting the entrepreneurs who power the engine of our Nation's economy. These intrepid individuals translate their vision into products and services that keep America strong and competitive on a global scale, and build opportunity and prosperity across our country."

President Barack Obama
Read President Obama’s Proclamation

By John Fernandez
U.S. Assistant Secretary of Commerce
for Economic Development

Throughout our history, the unparalleled freedoms that we enjoy as Americans have fueled an entrepreneurial culture that has made us the global leader in introducing new technologies and new ideas into the marketplace.

With President Obama’s proclamation setting November 14 through November 20, 2010, as National Entrepreneurship Week, today we celebrate National Entrepreneurs' Day to honor our nation’s entrepreneurs and their role as catalysts for creating new industries, businesses and jobs.

We’ve come a long way since President Obama took office and committed to supporting entrepreneurial growth by pursuing a balanced approach to investing in the building blocks of innovation and providing a jump start for innovation in sectors of national importance.

Under the President’s National Innovation Strategy we are building that new foundation for sustainable growth to not only to usher in a new expansion, but making sure it is more enduring, rewarding, and broad-based than previous ones.

The American Recovery and Reinvestment Act served as the cornerstone for this new foundation by pumping $100 billion into the economy to help us tackle some of the grand challenges of the 21st century in diverse fields from healthcare IT and health research, to clean energy, to smart grids, and high speed trains. Recovery Act investments are creating a virtuous cycle of investment, innovation, and job creation that have so far led to the creation of 3 million new jobs.

And with additional major steps, including the President’s National Export Initiative (NEI) and the recent passage of the Small Business Jobs Act we are making sure that American entrepreneurs are strengthened and have the resources they need to compete globally.

At EDA, our Office of Innovation and Entrepreneurship (OIE) is working to ensure that we are helping communities and regions accelerate the creation new products, new industries and new jobs.

The $12 million i6 Challenge, which was run through OIE, highlighted President Obama’s commitment to support public sector and social innovation through the use of high-risk, high-reward policy tools and is supporting the nation’s best ideas for technology commercialization and entrepreneurship in six different regions of the country.

While much progress has been made to support entrepreneurial development, we know there is a lot more work we can do to assure our competitiveness and I can assure you of the ongoing commitment by the President and his administration in support of American businesses and entrepreneurs.

To hear more about what the administration has planned to promote innovation-based, high-growth entrepreneurship, I am pleased to let you know that the White House will host a special live chat with Commerce Secretary Gary Locke today, Friday, November 19th at 1:00 PM EST.

Submit your question now at fastcompany.com, and Fast Company editors will select as many as they can to pose to the Secretary on Friday. During the event, you can also submit questions at whitehouse.gov/live or on facebook.

Tags:  GEW, Obama, Fernandez

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