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There has been a lot talk in the past year about job creation, entrepreneurship and economic recovery. Under the economic pressures, it became more important to than ever to examine closely how to unleash the entrepreneurial potential of various groups in society. We know for example that women are under-represented among business founders in high-tech and other high-growth fields despite their increasing participation in science and engineering. Fortunately, we are better prepared every day to inform policy. Today, I examine some of the most recent findings on the factors that affect the survival and growth of startups founded by women.
Not too long ago, entrepreneurship education was part of the curriculum of few university programs across the country. In 2003, the Kauffman Campuses initiative started to help seed cross-campus entrepreneurship programs at dozens of American universities, thereby allowing more young people to explore their entrepreneurial potential. Other universities have since moved in the same direction, bringing entrepreneurship education into the mainstream of learning by offering entrepreneurship courses and sponsoring extra-curricular activities, such as business plan competitions. Other institutions, like MIT, have gone even further by helping student scientists commercialize innovations.
With Global Entrepreneurship Week initiative, the Kauffman Foundation has been promoting the appreciation of entrepreneurship around the world and energizing the young to become entrepreneurs.
President Obama has been bringing together leaders with diverse views for discussions on how to achieve the goals of lowering health care costs, expanding coverage and improving quality. As health care reform moves forward, policymakers should also evaluate the effects of health care reform, particular the health insurance system, on entrepreneurship.
This morning, President Obama addressed the Presidential Summit on Entrepreneurship organized by the Department of State and the Department of Commerce following his promise in Cairo last June. The event is designed to promote entrepreneurship in Africa, the Middle East, and South, Central and Southeast Asia as a tool for economic and development policy and to fulfill the President’s commitment to broaden and deepen ties between the United States and Muslim communities around the world.
The spirit of entrepreneurship was alive and well at last week’s Presidential Summit on Entrepreneurship. The White House took a political risk in hosting a summit on “global” entrepreneurship in a climate when so many Americans, anxious about their local economy, are easily blinded to the vital role entrepreneurs play in building the stable economies overseas essential to our growing firms back home. The summit though was a foreign policy success and a solid statement of support for the role all entrepreneurs play in creating jobs and economic growth.
The unemployment pressure does not appear to abate. Layoffs continue every day and despite massive government intervention for economic recovery, there is little evidence of anything more than a slow, prolonged recovery. It is time to give a payroll tax holiday for young firms.
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