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It's sometimes lonely to be an entrepreneur. But at any given moment, some 10 million Americans are involved in the process of starting a potential new business, according to a Kauffman Foundation report. And the demographics of these aspiring business owners might be different than expected.
A technology entrepreneur and health researcher, Ian Eslick considered how to tap unusual revenue sources to build and sustain projects that would have value in the healthcare system. He came up with a solution in Vital Reactor, which keeps track of profit shares for people who contributed to a startup.
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.
For each of the past 15 years, the Initiative for a Competitive Inner City comes out with a list of the fastest-growing urban startups across the U.S.—companies that create new jobs and wages for those in core urban areas with higher unemployment and poverty rates and lower median incomes. Happy Family, an organic baby food supplier based in New York City, tops the Inner City 100 for 2013 with a five year growth rate of 205%. Revolution Foods out of Oakland came in second place with a growth rate of 173% and Coyote Logistics from Chicago finished third with 126%.
Guatemala’s economic history has been defined by corruption, instability and broad social inequality. In that context, Rigoberta Menchu received the 1992 Nobel Peace Prize for her work in promoting indigenous rights in the country. There are now other unnoticed social changers: entrepreneurs who see hope in technology as a tool to overcome social divides, as one local entrepreneur told the New York Times.
When it comes to supporting entrepreneurs and small business owners in the U.S., local government and ecosystem players get the nod over those at the state or national level. And while they are largely an optimistic bunch about their prospects for growth in the coming year, they worry about sustaining their success.
Crowdfunding and other ‘innovative ideas for raising capital’ take center stage when Indiegogo co-founder Danae Ringelmann and others testify before the House Committee on Small Business this week. Other topics covered during hearings this week include: STEM education, regulatory reform, improving efficiency at the SBA, wireless competition, disaster response and the fiscal & economic effects of austerity.
[View the story "eMed's 6 to follow in entrepreneurship" on Storify]Checkout this weeks eMed's 6 entrepreneurs to follow in entrepreneurship.
Traditional banks often don't know what to do with a business with no revenue and no developed product or service. But since bank financing is important for startups, it's a good idea to find a bank that understands startups' assets and the ebb and flow of startup sales and revenue cycles.
STC Biologics is a Cambridge-based biotechnology company focused on the development of biologic drugs. Magdalena Leszczyniecka, the company’s president and CEO, launched the business just as the market crashed. After several years in the field, Leszczyniecka shared her experiences with bartering, negotiating, and asking for help.
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