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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?
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.
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.
From an outsider perspective, Belgium has a very diverse economy with dozens of influences coming together at its prime location in the heart of the EU. Being the home to several major European universities, and a mix of service-based economy in the north and industrial-based in the south, Belgium has a diverse market structure that keeps it competitive and one of the highest income per capita economies in the world. However, when it comes to entrepreneurship, Belgium is not thriving.
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.
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.
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.
While politicians are out of town campaigning, the nation’s capital has been welcoming leaders in entrepreneurship education from America’s colleges and universities. Following a warm up from the younger “Empact” entrepreneurship education advocates, I joined a packed summit of university and community college presidents at the White House put together by the Commerce Department’s Nish Acharya, and then spoke this past Friday at Jeff Reid’s Global Consortium of Entrepreneurship Centers conference at Georgetown University. It is increasingly clear that America’s colleges and universities have been retooling as engines of entrepreneurship and innovation.
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