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As the world celebrates another Global Entrepreneurship Week, the Huffington Post features an essay today by Jonathan Ortmans that provides a glimpse at what that will look like.
As countries get richer, they become more heavily dependent on home-grown innovation -- as opposed to simply expanding existing activities or borrowing good ideas from abroad -- to maintain their growth. And since new firms play an absolutely vital role in the innovation process, removing barriers to entrepreneurship becomes increasingly important to maintaining economic dynamism and prosperity.
Last week, we told you in our weekly 'This Week in Entrepreneurship Policy' post that the House was examining a couple of bills “intended to make it easier for startups and other companies to raise capital.”
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 Washington, DC, has plenty going on during Global Entrepreneurship Week from November 14 – 20, Capitol Hill is fairly quiet during the week leading up to it. The House is in recess for the week—observing Election Day from their home districts—while Senate committees have a very light load of hearings.
Be sure to check back next week during Global Entrepreneurship Week.
A couple of bills intended to make it easier for startups and other companies to raise capital get the spotlight in the House this week. The Rule Committee has scheduled a hearing -- and live webcast – covering the 'Entrepreneur Access to Capital Act' (HR 2930) and 'Access to Capital for Job Creators Act' (HR 2940). Both tweak rules for the Securities and Exchange Commission. HR 2930 would allow new firms to use crowdfunding to accept and pool donations of up to $1 million without having to register with the SEC. HR 2940 would remove the SEC ban that now prevents small companies from advertising to solicit investors.
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.
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.
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