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While the world gathered in New York last week for the Clinton Global Initiative and UN General Assembly meetings, I elected to accept an invitation to head out of town to check up on progress with one of the world’s “strong government” economies grappling with how to reconcile a tradition of top-down government control with a desire for bottom up organic startup communities.
A recently released briefing paper by the Hudson Institute shows job creation from new firms at an all-time low. “The Collapse of Startups in Job Creation” paints a bleak picture where the number of new firms being created today is even smaller than two years ago when the worst of the recession ended.
Congress is in recess with members back in their home states and districts as they focus on campaign work over the next several weeks. They will return to Washington at some point after the November 6 election.
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:
Argentina has been in the news lately for its expropriation of a Spanish oil company and other strong regulatory interference, such as price and import controls. With this image reflected in the media, we decided to check back on activity that Argentine entrepreneurs and the organizations that support them are carrying out to sustain and promote entrepreneurship.
As we anticipated last week—well, us and pretty much everyone else who tracks the comings-and-goings of Congress—the House and Senate adjourned for a six-week recess so that they could focus on campaigning ahead of the general election in November. Somewhat comically (and predictably), Democrats called on the GOP majority in the House to postpone the recess while Republicans similarly chided the Democratic majority in the Senate – meanwhile, the media threw up its hands at both. The departure is the earliest pre-election recess since John F. Kennedy faced-off with Richard Nixon in 1960.
If you want to succeed as an entrepreneur, which college should you attend? Well, assuming you aren’t a Peter Thiel disciple and agree that entrepreneurs should skip it altogether, it seems like Babson College is your best bet.
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:
I recently returned from Brazil, the world’s sixth largest economy, where President Dilma Rousseff, a former Marxist revolutionary, is using pro-growth incentives such as lower interest rates, proposed tax cuts and infrastructure investment to fuel her nation’s quest for sustained economic growth and help more Brazilians stand on their own two feet. That Rio will host the Global Entrepreneurship Congress in March 2013 is obviously important for Brazilians. It might be more important for the rest of world.
The latest Kauffman/LegalZoom Startup Confidence Index points to a continuing decline in expectations for the U.S. economy. Almost 40 percent of startup owners believe the economy will deteriorate over the next 12 months, an increase from 36 percent in the second-quarter survey and 31 percent in the first-quarter. Not surprisingly, the number of entrepreneurs who were “somewhat confident” in future profitability dipped as well.
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