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Things are starting to pick up on Capitol Hill as the House of Representatives is set to reconvene tomorrow (Nov. 17). Relevant hearings are already scheduled for several committees, including Financial Services, Armed Services and Oversight & Government Reform. The Senate will reconvene next Monday, January 23.
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:
In a world where seemingly every nation is scrambling to bolster innovation and entrepreneurship, how can the U.S. strengthen its competitiveness? According to a new report from the Department of Commerce, the formula is simple and based on looking at the country’s track record for promoting innovation—increased government funding for research, education and infrastructure. It argues that “failures to properly invest in, and have comprehensive strategies for” those three pillars are responsible for the shrinking gap between the US and other nations.
No hearings scheduled for the week ahead. The House of Representatives is scheduled to convene on Tuesday, January 17 with the Senate scheduled for Monday, January 23.
According to the latest figures from the National Venture Capital Association, dollars invested are on the rise while the number of funds continues to fall. In the US, thirty-eight (38) venture capital funds raised $5.6 billion in the fourth quarter of 2011—representing an increase of 162% in commitments. While the total number of funds for 2011 held constant in comparison to 2010 totals, the fourth quarter total of 38 marks a low point since the third quarter of 2009.
Last week, we highlighted a new piece of legislation introduced by Senators Jerry Moran (R-KS) and Mark Warner (D-VA) that pulls a number of ideas from a collection of policy reforms suggested by the Kauffman Foundation. It wasn’t the only new bill aimed at reviving the sluggish economy through new and young firms.
Following years of temporary extensions, it looks as though the SBIR and STTR programs are going to have a bit of stability. The U.S. House and Senate recently came to an agreement that would reauthorize the Small Business Innovation Research and Small Business Technology Transfer programs for six years.
All eyes on Capitol Hill are focused on the struggle over the future of payroll tax cuts two weeks before they are set to expire. No committee hearings are scheduled for the week ahead.
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