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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:
As the White House fine tunes its messaging for the upcoming State of the Union Address, small business owners are starting to feel a bit more confident about the economic outlook, according to the latest survey by the National Federation of Independent Businesses. A commonly used phrase in the NFIB work last year was ‘stubbornly cautious’. However, the new numbers show continued growth in optimism--the December figures were positive for the fourth consecutive month.
The last we heard from the i6 Challenge, the Economic Development Administration was looking for comments on the "X Prize-style" competition designed to help additional cities develop economic blueprints for the future. Last week, four of the six winners of the competition were featured at a hearing on Capitol Hill to provide members of Congress with a look at how federal funds are impacting regional economic growth.
SBA Administrator Karen Mills has been tapped by President Obama to join his Cabinet as part of a larger plan to consolidate the Small Business Administration and several other federal agencies with overlapping responsibilities. The move for Mills is effective immediately, but the reorganization plan requires the backing of Congress.
Things are starting to pick up on Capitol Hill as the House of Representatives is set to reconvene tomorrow (Nov. 17). Relevant hearings are already scheduled for several committees, including Financial Services, Armed Services and Oversight & Government Reform. The Senate will reconvene next Monday, January 23.
No hearings scheduled for the week ahead. The House of Representatives is scheduled to convene on Tuesday, January 17 with the Senate scheduled for Monday, January 23.
According to the latest figures from the National Venture Capital Association, dollars invested are on the rise while the number of funds continues to fall. In the US, thirty-eight (38) venture capital funds raised $5.6 billion in the fourth quarter of 2011—representing an increase of 162% in commitments. While the total number of funds for 2011 held constant in comparison to 2010 totals, the fourth quarter total of 38 marks a low point since the third quarter of 2009.
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