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Created in 2007 during the Bush Administration and reauthorized in 2010 by President Obama, the America COMPETES Act is up for another reauthorization as major provisions are set to expire in 2013. The original law authorized $33.6 billion in appropriations from 2008 - 2010 for programs and activities in physical sciences and engineering research as well as STEM education and more. The reauthorization in 2010 increased the amount to $45.6 billion.
As the unemployment rate fell in 2012, another economic indicator dropped too: the overall business creation rate. According to the annual Kauffman Index of Entrepreneurial Activity released today, the 2012 rate declined slightly from 0.32 percent of American adults per month starting businesses in 2011 to 0.30 percent in 2012.
Last week, we brought you the latest news from the venture capital industry. This week, we hear from the angels and the overall message is a bit more positive—at least that overall angel investing for 2012 was “stable with prior years.”
Several hearings on policies that impact entrepreneurial growth are scheduled for the week ahead with the biggest being the Senate Judiciary Committee’s look at potential immigration reform through The Border Security, Economic Opportunity, and Immigration Modernization Act, S.744. Appearing earlier today were representatives from a range of entities including Microsoft, Rochester Institute of Technology, and the Center for Immigration Studies. On Tuesday, U.S. Secretary of Homeland Security Janet Napolitano appears before the committee during a hearing of the same title. Other topics covered in hearings throughout the week include: next-generation computing and “big data analytics”, the SBA budget, STEM workforce, small business lending, the state of wireless communications and more.
The innovation performance in European Union countries is on the rise—cutting in half the gap between it and the United States. However, the internal gap between EU member nations is widening.
With both houses returning to Washington this week from recess, there are a number of hearings scheduled of interest to those interested in the policies that promote entrepreneurship. President Obama’s FY 2014 budget proposal gets a look in the Senate from the Budget and Finance committees. Other topics include: STEM education, the US position on internet governance, JOBS Act update, small business tax reform, regulatory reform and the state of communications in rural communities.
Since its inception, Start-Up Chile has received a considerable amount of attention for its search for bootstrappers who receive equity-free seed capital of $40,000 and a 1-year work visa in the South American country. Recently it announced the opening of its seventh round of applications—looking to select, fund, and host up to 100 startups while giving them access to a global network for those determined to make their projects global.
Both houses of Congress are still in Spring recess and will return next week. While reports differ on exactly how close Republicans and Democrats are to a deal on immigration reform, you can expect to hear a lot about the subject when they return—and in the weeks ahead.
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.
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