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Despite more research and data from the World Bank and OECD, while plenty of attention has been given to “SMEs” in the past, multinational government gatherings have largely ignored the importance of stimulating new high-impact startups as a prime global economic growth strategy. This needs to change.
We do not have to puzzle long over what ignited the Arab Youth to take over the streets calling for reforms in their governments. The protests have been against long tyrannies, unemployment and have been fueled by the power of social media. The act that triggered the pro-democracy movement in many Arab countries, the self-immolation of a Tunisian in protest over the confiscation of his fruit stand, shows that the events of late are also an uprising against anti-entrepreneurial barriers. Clearly, protesters have issued a call to Arab leaders to not stifle the innovative aspirations of their people--especially the younger generation--which leaders themselves have armed through education and who are now impatient to put their education to good use.
The JOBS (Jumpstart Our Business Startups) Act is one small step away from becoming law after its fast passage in Congress and President Obama has given reassurance that he will sign the bill when it gets to his desk this week (probably Thursday). The passage of the JOBS Act last Tuesday during a politically charged time is proof that entrepreneurship promotion is a bipartisan issue. As the clock moves relentlessly toward November, both sides of the aisle found common focus and set out to solve the entrepreneurial access to capital problem. The American public should be proud of how functional Washington was these past few weeks.
When I asked two U.S. Senators from different parties earlier this year how they managed to work together on startup legislation during an election year, both talked of “credible, robust data” as their starting point. Last week I participated in the International Council for Small Business (ICSB) 3rd Annual Global Entrepreneurship Research and Policy Conference at George Washington University to see what was emerging outside the United States.
This year has afforded me the opportunity to visit dozens of nations and talk with their entrepreneurs. One nation remained elusive to me. In 2011, Thailand participated for the first time in Global Entrepreneurship Week (GEW) and I was keen to visit in either 2011 or 2012, but despite good faith efforts, I have been unable to make it there, mostly due to the likes of tragic flooding, the worst in 50 years last year for the country. So I turn today to virtual research.
The Chilean economy has been recognized as the most competitive of
Latin America. In general, Chile has been characterized by political and
economic stability and relatively low levels of corruption and offers one of
the most advanced physical infrastructure systems in the region. The potential
and proven track record of this economy has led to Chile’s recent
accession to the OECD as its 31st member and its first member in South
America. Not surprisingly, Chile is often a case study in economic development.
The question is whether its model will show the power of entrepreneurship as an
engine for prosperity?
Everyone surely owns an innovative product that has its roots in a university lab, or knows someone that has benefited from the presence of start-ups that formed through the dissemination of knowledge and technologies from the university to the marketplace. Universities have been the lifeblood...
Wednesday, July 29, 2009 House Science and Technology Committee - Full Committee MarkupThe Committee will meet to consider the following measures or for other purposes:H.R. 3246, Advanced Vehicle Technology Act of 2009H.R. 3165, Wind Energy Research and Development Act of 2009H.R. 3029, To establish a...
The spiritof entrepreneurship was alive and well at a recent gathering of more than 400 Georgetownstudents interested in globalization and entrepreneurship. When asked why theycame, it is not surprising that most aspired in some way to make a differenceas a “social innovator.” What was moreof...
Access to funding is often mentioned in meetings about how to enable high impact entrepreneurship. We are always reminded that bank lending to small businesses remains tight. Even loans subsidized by the Small Business Administration have dropped off in recent months. Venture capital was prominent historically for its role in financially catalyzing high-growth companies, but has over the years become less significant in spurring entrepreneurship. So what are angel investors up to this summer?
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