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Israel is one of the most innovative nations on earth. Israelis (approximately 7.6 million in number) are well-educated, have a global outlook, ties around the world, and most importantly, a positive view of entrepreneurship. Most Israeli entrepreneurs understand ways of moving innovations into the marketplace and how to establish themselves as global companies from the get go. It is only natural that there is so much interest around the world in Israel’s entrepreneurship path.
I have just returned today from the Global Entrepreneurship Congress (GEC) in Liverpool where a weeklong festival of entrepreneurship floated powerful ideas about everything from seeding startup communities to smarter national top-down policies. This week I take a quick look at last week’s GEC and why it matters as a symbol of the democratization of entrepreneurship.
Late September is always a busy
time in New York and Washington for world leaders. New York is crowded with
heads of state and visionaries at the UN Assembly or the Clinton Global
Initiative, and in Washington, DC, the World Bank Group and IMF
Annual Meetings that took place this past weekend always spur an assortment
of organizations with global economic development missions to gather their
flocks. We all wonder what all these expensive ‘meetings of the minds’ are
accomplishing. To share my own bias, it prompts me once a year to check in and
see how much development bureaucrats are really seeing and listening to the
entrepreneurs on the ground doing the work.
This week, President Obama will turn his focus from budget sequestration to immigration. A new Kauffman Foundation report released last week argues that making 75,000 Startup Visas available for current holders of H-1B and F-1 visas who start companies could create as much as 1.6 million U.S. jobs in the next 10 years. Will Washington act or, if they cannot agree, throw the baby out with the bath water?
The past few months have brought a new series of reports dissecting the job creation phenomenon by new firms, timely at a time when so much of the economic discussion lately in the U.S. has focused on strategies to recover the roughly 8 million jobs lost during this past recession. We already knew that research has firmly established that new firms—those no more than five years old—over the past three decades have been responsible for virtually all of the net new jobs created in the U.S. economy (see 2009 reports “Jobs Created from Business Startups in the United States,” and “Where Will The Jobs Come From?”). As the nation debates this leading up to the mid-term elections in the United States, let’s further examine U.S. job growth and its relationship to startup companies.
Last Thursday, President Obama announced his nomination for the position of Chief Counsel for Advocacy at the Small Business Administration. The nominee, Winslow Sargeant, is a managing director in the technology practice at Wisconsin-based venture firm Venture Investors LLC. The first thing that comes to...
I have just returned from the Global Entrepreneurship Congress (GEC) where this year over 5,000 people gathered from 153 countries to talk about starting and scaling new firms. Of note this year was the fact that the gathering was held in Moscow at a time of geopolitical tension around Crimea. Given that the Olympics in Sochi attracted less than 100 nations, the GEC last week provided clear evidence of the powerful role entrepreneurs now play on the global stage.
While the global financial crisis impacted almost all new entrepreneurs, it began in developed countries and hit their entrepreneurs harder. As a result, in richer countries, new business creation dropped sharply amid the crisis. In contrast, new business registrations in many low-income countries didn't change much. These are the findings in The 2010 World Bank Group Entrepreneurship Snapshots, which presents data collected about newly registered companies in 112 countries and was released recently.
Being born in Britain might explain my bias, but I find myself asking again whether we have overlooked the important leadership role of royalty in providing help from the top for bottom-up startup communities. I recently spoke with the Prince of Wales at St. James Palace in London and while he is from a different generation, I heard a man with his heart and mind fully in step with today’s unemployed youth and the path they must beat to create their own future as entrepreneurs.
Last week, a patent reform bill, the America Invents Act (H.R. 1249), passed the House of Representatives. On March 8, the Senate passed a similar patent bill (S. 23) by a broad margin. There is no doubt our patent system is broken with backlogs and litigation, but the bill’s net effect on innovative entrepreneurship is still unclear.
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