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In his 2011 State of the Union Address a couple of weeks ago, President Obama talked about the importance of innovation to create the jobs and industries of the future. A few days later, the White House released a new innovation strategy as part of the President’s plan to “win” that future. This strategy said: “America’s future economic growth and international competitiveness depend on our capacity to innovate. We can create the jobs and industries of the future by doing what America does best – investing in the creativity and imagination of our people. To win the future, we must out-innovate, out-educate, and out-build the rest of the world.” A few days later the White House, in partnership with the Kauffman Foundation and Case Foundation, launched a Startup America initiative aimed at doing just this.
President Obama recently announced that the U.S. government is committed to restoring the nation's leadership in educating children in math and science, and launched a new “Educate to Innovate” campaign. The campaign will bring together teachers, parents, businesses and the media to promote math and...
In 2009, the Irish economy underwent one of the deepest recessions in the EU, with its economy shrinking by as much as 10%. Late in 2010, Ireland received an €85bn financial rescue package. Clearly, the winner of Ireland´s general elections held on Sunday (according to polls so far Fine Gael leader Enda Kenny) will have a lot on his shoulders. However, if the past is any indication, Ireland has the potential to resurge economically.
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.”
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.
Chatter about the promise of Africa is not new. Outside economists have been reminding us about relatively high GDP growth rates; China conspiracy theorists keep us informed about who is buying up the continent’s natural resources; and global aid agencies are constantly rewriting their strategies. What is new is the rise of a new generation of Africans that is actually making things happen.
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?
Today marks a new era in entrepreneurial finance as the measure in the 2012 JOBS Act (Jumpstart Our Business Start-ups Act) allowing “emerging growth” companies to ask accredited investors for equity investments publicly (e.g., through social media) without having to register the shares for public trading goes into effect.
One hundred years of banked future hydrocarbon revenues, massive investments in higher education and a common legal framework based on western law all offer this small nation—the size of Connecticut—tremendous potential to be a hub for startups in the GCC. I find it curious therefore that at Qatar’s famous “Doha Forum” I participated in today, entrepreneurship and startups were not on the agenda.
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