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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:
Dell made a splash last week with its announcement of the Dell Innovators Credit Fund—a $100 million initiative intended to amplify the effects of venture or angel funds recently invested by a select group of VCs or angel investors. Once startups are approved, they can borrow up to 10% of their funded amount—up to $150,00—for an added boost to their growth trajectory.
The White House is getting attention recently for its efforts at X Prize style competitions—which makes sense since its ‘assistant director for grand challenges’ is a former X-Prizer. One of the challenges at the heart of that approach is its i6 Challenge—a $6 million competition that “seeks to develop Proof of Concept Centers and create a network of experts to support innovators and researchers; spur sustainable startups, small businesses, and new ventures; expand access to capital to fuel growth; connect mentors and education to entrepreneurs; and spark job creation.”
The House of Representatives returns from a week-long recess with a full slate of hearings and activities of interest to entrepreneurs and those who support them. Highlights include Startup Day which puts 18 startups on Capitol Hill meeting with members of Congress and a hearing on efforts to boost technology transfer through a look at “creative approaches to the Bayh-Dole Act.” Other hearings cover topics such as the nation’s science policies, commercializing space, the looming fiscal crisis and small business lending.
Confidence is on the rise among small business owners. A new survey from Citibank shows a sizable jump in the number of those who said their own business is better than it was a year ago—from 24 percent in August 2010 to 43 percent in June 2011. The sentiment seems consistent with others targeted toward entrepreneurs—including the Startup Confidence Index from the Kauffman Foundation.
The House of Representatives is in a week-long recess and will return to action next Monday. In the meantime, a handful of Senate committees have hearings scheduled that may be of interest to entrepreneurs and those who support them—including a look at competitiveness and collaboration between the U.S. and China on clean energy.
A few weeks ago, we told you about the Senate version of Startup Act 2.0—sponsored by a bipartisan group of four U.S. Senators. Not to be outdone, the House introduced identical legislation last week thanks to Congressman Michael Grimm (R-N.Y.) and Loretta Sanchez (D-Calif.) along with a group of cosponsors—Kevin Yoder (R-Kan.), Jared Polis (D-Colo.), Devin Nunes (R-Calif.), Russ Carnahan (D-Mo.) and Robert Dold (R-Ill.).
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