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Late last week, Acting Deputy Secretary of Commerce Rebecca Blank and SBA Administrator Karen Mills announced two Presidential Memoranda intended to help businesses expand and create jobs. In addition to a new web portal, BusinessUSA.gov, the administration wants to encourage the creation of entrepreneurial startups by accelerating the movement of research conducted in federal labs into the commercial marketplace.
Using words like “uncertain,” “fragile” and “weak,” 96 percent of top economics bloggers now share a gloomy outlook on the U.S. economy. Only half expect employment growth in the next three years while only 2 percent consider the US economy to be ‘strong and growing’ and two-thirds feel the government is already too involved in the economy.
Malaysia transformed itself from a producer of raw materials in the 1970s into an upper-middle income country with a multi-sector economy by the late 1990s. The 1997 crisis significantly challenged this technology-exporting country, but it has since successfully sparked two main sources of economic resilience—foreign investment and new firm creation. To my surprise, Malaysian entrepreneurs I spoke with recently gave a great deal of credit to, of all actors on the stage, their government. Did government really do something right?
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 the search to find tomorrow’s job creators, Startup Open, a competition that searches for startups with the greatest growth potential, unveiled the “GEW 50”—50 of the world’s most innovative new companies. These elite startups will now vie for a host of prizes to be announced on Nov. 14, timed with the kick-off to Global Entrepreneurship Week.
The House of Representatives returns to session while it is the Senate's turn for a one-week recess. The Ways & Means Committee takes a look at the barriers that US firms face tapping into the Chinese market, including: harmful "indigenous innovation" policies and failure to adequately protect intellectual property. Meanwhile, government procurement programs and the SBA's financing initiatives get a look from the Small Business Committee.
What is going on in Canada?
A couple of weeks ago, we pointed out a recent Forbes study that ranked Canada as the ‘best country for business.’ Apparently Forbes weren’t the only ones impressed with the US neighbors to the north as another study emerged last week with Canada on top.
A newly released study shows that new businesses have a higher propensity to use websites, email and to sell their products and services online—which makes absolute sense to anyone who has been to a Startup Weekend recently or even just thought about how get a business off the ground without a mountain of cash up front. The data from the study, “Casting a Wide Net: Online Activities of Small and News Businesses in the United States,” also show the logical correlation between that activity and the resulting positive impact on capitalization and longevity.
Following turbulent times in 2008 and 2009, the angel investor market has shown signs of stabilization, according to a new study by the Center for Venture Research at the University of New Hampshire. While the total number of active investors during the first two quarters of 2011—124,900—remains virtually unchanged from the same period last year, other numbers are showing a slight increase.
U.S. Senator Jerry Moran took to the floor of the U.S. Senate last week, vowing to introduce new legislation that would create an environment for new firms to start, grow and create jobs.
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