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As elections approach and there is a lot of debate on which is the best road to a robust economy with more jobs, policymakers should take time to listen to the message of the just-released Kaufman Foundation videos on the benefits of high-skilled immigration. With Washington being unwilling to separate the obviously different issues of high-skilled immigration and how to handle illegal immigrants, a net job gain strategy remains hostage to politics as usual in the nation’s capitol.
As the Kauffman Foundation, the Partnership for a New American Economy and many others have repeatedly shown, immigrants make great entrepreneurs. We know that 40 percent of 2010's Fortune 500 companies were founded by new Americans. Immigrants start firms at rates much higher than natives.
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:
While the startup genome in Silicon Valley is always mutating, some formulas are becoming basic tenets in the science of startups. A critical mass of email about my use of the word “iterative” in my blogs prompts me to revisit one such startup fundamental—the so called “Lean Startup” formula.
Following the Independence Day holiday, members of Congress have a full slate of hearings in the week ahead. Included is a look from the House Committee on Oversight & Government Reform at the impact on entrepreneurs of the Supreme Court decision validating the Patient Protection and Affordable Care Act. Other hearings cover topics including: commercializing NASA technologies; mobile payments; renewable energy; regulatory reform and more.
Chances are if you are an entrepreneur you already have a fair amount of self-confidence—assessing risk and measuring opportunity. So it’s no surprise that most entrepreneurs rated themselves highly on many of the 17 personal characteristics, traits and skills that bode well for taking an entrepreneurial plunge.
Earlier this month, I hosted a gathering of 40 experts from Japan at our new GEW Global conference center in Washington, DC, where we discussed the notion that Japan needs to launch a rebirth by being more open, building a better startup ecosystem, bringing in more foreigners and sending more Japanese overseas. We also looked at whether Japan needs more examples of Japanese startup success that underscore the importance of globalization—startups that convince others that taking risks is alright, and political leadership that encourages entrepreneurial behavior even if only to keep Japan’s big businesses competitive and dynamic. We concluded that Japan needs to celebrate the great Japanese pioneers and entrepreneurs who built some of the most innovative companies in the world and pose the entrepreneurial imperative to a new generation.
Two prominent Japanese professors recently authored the Fukao-Kwon report, which revealed that from 1996-2006, when total employment in Japan decreased by 3.5 million, young, newly established firms and foreign companies were the only ones to create net job growth. This report also suggests that new companies have higher success rates than older, established companies in Japan and that entrepreneurs clearly need to be the central catalysts in Japan’s next chapter. Have the great innovators of the post-war years – Toyota, Nippon Steel, Sony, etc – become so huge and successful that they have lost their propensity to create disruptive new technologies?
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