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As the Kauffman Foundation, the Partnership for a New American Economy and many others have repeatedly shown, immigrants make great entrepreneurs. We know that 40 percent of 2010's Fortune 500 companies were founded by new Americans. Immigrants start firms at rates much higher than natives.
Chances are if you are an entrepreneur you already have a fair amount of self-confidence—assessing risk and measuring opportunity. So it’s no surprise that most entrepreneurs rated themselves highly on many of the 17 personal characteristics, traits and skills that bode well for taking an entrepreneurial plunge.
Following the Independence Day holiday, members of Congress have a full slate of hearings in the week ahead. Included is a look from the House Committee on Oversight & Government Reform at the impact on entrepreneurs of the Supreme Court decision validating the Patient Protection and Affordable Care Act. Other hearings cover topics including: commercializing NASA technologies; mobile payments; renewable energy; regulatory reform and more.
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:
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.
The medical device industry watched with interest as the U.S. Supreme Court ruled on the Affordable Care Act. Read more for their reactions.
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?
Since the House & Senate each passed identical versions of the Startup Act 2.0, the legislation has picked up a growing list of impressive endorsements. Topping the list is tech giant Google.
Another week with a lot of activity on the House side. The JOBS Act is the focus of a couple hearings by the House Committee on Oversight & Government Reform while other topics include: research universities and technology transfer; international intellectual property enforcement; regulation of mobile payments and the future of video. Also, the pending increase on the capital gains tax is the subject of a joint hearing of the House Ways & Means Committee and the Senate Finance Committee.
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