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Each day, Innovation Daily checks the pulse of global innovation--courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week.
With all the chatter around the Middle East, we welcome a guest post from Mike Ducker. Over the last two years, he has been the Entrepreneur-In-Residence for the U.S. State Department's Global Entrepreneurship Program (GEP) in Egypt, a project funded by USAID and centered on starting, growing and facilitating financing for Egyptian entrepreneurs. His observations show once more the remarkable similarities around the world in terms of how to support startups.
Today marks a new era in entrepreneurial finance as the measure in the 2012 JOBS Act (Jumpstart Our Business Start-ups Act) allowing “emerging growth” companies to ask accredited investors for equity investments publicly (e.g., through social media) without having to register the shares for public trading goes into effect.
If you Google 'government shutdown' and 'Congress' you should get a pretty fair picture of what the focal point is this week on Capitol Hill. Last week the Joint Economic Committee held a hearing called "The Economic Costs of Debt-Ceiling Brinkmanship." This week, the Senate Budget Committee explores a similar topic in "The Impact of Political Uncertainty on Jobs & the Economy." Meanwhile on the House side, Congressional Budget Office director Doug Elmendorf is scheduled to appear before the Budget Committee on the CBO's long-term outlook.
At the Kauffman Foundation, we recently announced a grant to a group that is trying to map and track where startups are around the world. The project--Startup Genome--is working "to build the most complete and accurate database of the world's startup communities, present it in useful, beautiful ways and provide tools and reports that community builders can use to gain insight into what's happening in their community. And make better decisions about how to grow it."
"CODE2040 is a unique and dynamic program that creates access, awareness and opportunities for top minority engineering students to ensure their participation and leadership in the innovation economy." CODE2040 places students in internships with top tech companies and provides them with mentorship, leadership training, and network development.
Despite the profound impact of the banking sector collapse in 2008 on Iceland’s economy, the island nation ranks 13th in this year’s Global Innovation Index, 14th in the Ease of Doing Business rankings, and 23rd in the Index of Economic Freedom. There has been much debate and disagreement regarding the key steps that put this social-market economy on a path to successful recovery but no one denies the contribution of the more silent actors transforming the economy for the better—its entrepreneurs. I recently sat down in Reykjavik with President Ólafur Ragnar Grímsson to learn about the entrepreneurs who are building what they call an “anti-fragile” entrepreneurship ecosystem.
Over the years, the Policy Dialogue on Entrepreneurship has featured an assortment of rankings that examine just about everything you can imagine to do with the economic well-being of all 50 U.S. states. Of course, most informed readers understand that different organizations lead to different points of emphasis, different methodologies and you guessed it—different results.
Things remain quiet on the topic of startups and entrepreneurship in Senate committees for the week ahead. On the House side, the Small Business Committee looks at "Private Sector Initiatives to Educate Small Business Owners and Entrepreneurs" and others focus on intellectual property, regulatory flexibility and PPACA / "Obamacare." Meanwhile, the Joint Economic Committee hopes to shine a light on the "Economic Costs of Debt-Ceiling Brinkmanship."
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