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With more women than men in the U.S. earning PhDs in the biological sciences and estimates that around 15 percent of the U.S. GNP over the next two decades will be comprised of life science activities, it is no surprise that women's entrepreneurship has attracted so much attention recently in both the developed and developing countries. And in many other countries, women's entrepreneurship is even more important as a separate track for cultural reasons.
Last week, a patent reform bill, the America Invents Act (H.R. 1249), passed the House of Representatives. On March 8, the Senate passed a similar patent bill (S. 23) by a broad margin. There is no doubt our patent system is broken with backlogs and litigation, but the bill’s net effect on innovative entrepreneurship is still unclear.
It is time to implement new methods to shake our economy out of this lingering spell of slow growth (a disappointing 2% rate) and high unemployment (hovering around 9%). And while the large federal budget deficit does not leave much room for implementing more traditional economic remedies, the Kauffman Foundation—at a press conference this morning here at the National Press Club in Washington, DC—suggested it is time for legislation. Startup legislation.
I hope that like me, you have had the chance to witness the burgeoning phenomenon of entrepreneurship curriculum in American higher education. More and more, students have the opportunity to explore entrepreneurship on campus. In the process of creating entrepreneurship programs, universities have become more entrepreneurial themselves. This is great news. Colleges and universities are natural incubators of creativity and new ways of looking at things. And this new reality might mean that colleges and universities are better preparing students for success in the American economy where more professionals need to make their own jobs.
It has been a big week for entrepreneurship in Indonesia. U.S. Secretary of State Hillary Clinton arrived in Bali on July 21 to take part in an ASEAN Regional Entrepreneurship Summit (RES) held by the Ministry of Trade of the Republic of Indonesia and the Global Entrepreneurship Program Indonesia (GEPI). The theme of the 3-day RES was: “Emerging Entrepreneurs: The Next Big Chapter.”
Most policymakers are starting to both heed entrepreneurs for their job and wealth creation efforts during these tough times as well as pick up on one of our nation’s biggest source of high-growth start-ups: immigrant entrepreneurs. But if public reaction to a recent NPR segment and recent Washington Post commentary on the topic are anything to go by, I fear we have a long way to go to convince the average American citizen.
Now that Peru has inaugurated a new government, the verdict is out on how the Ollanta Humala administration treats entrepreneurs. When the new president presented the names of eight of his cabinet ministers for his presidential mandate which started July 28, I was pleasantly surprised to see that Peruvian entrepreneur Salomon Lerner would be among them.
On January 31st, 2011, the White House announced Startup America, a public/private initiative to rally efforts to accelerate high-growth entrepreneurship in the U.S. by expanding access to capital, creating a national network for entrepreneurship education, enhancing the commercialization of federally-funded innovations and getting rid of tax and paperwork barriers for startups. Given the importance of new firms to America’s economy and the national urgency to create jobs, I take a look this week at what Washington accomplished—leading up to the summer break—in response to the President’s call for action.
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