New nonprofit initiatives have been re-defined in Seattle and Atlanta to support their cities' startup communities. Startup Seattle and Startup Atlanta will work to serve, support, and link the regional innovation systems and startup ventures in their respective cities. Both entities previously were developed by and for the local entrepreneurial communities to support new companies but are restructuring as independent organizations.
Envisioned as a comprehensive state-level program to support an entrepreneurial ecosystem, the HI Growth Initiative was approved by lawmakers to diversify the state's economy and promote the development of high-growth, entrepreneurial businesses. Backed by Gov. Neil Abercrombie, the initiative has three main objectives focused on helping entrepreneurs commercialize intellectual property, access business mentors, network with global investors, and gain access to follow-on capital. Funds will be managed by the Hawaii Strategic Development Corporation.
As the 2013 legislative session draws to a close for several states, lawmakers approved measures to create new opportunities for economic growth or expand investments in programs demonstrating positive outcomes. Lawmakers in Georgia increased funding for established university-based research initiatives and set up a state-run venture capital fund to invest in innovative companies. In Virginia, a new cybersecurity accelerator will help propel technology and companies in an emerging sector.
Each year, SSTI provides Digest readers with a comprehensive review of technology-based economic development spending in the the president's federal budget request. The year's edition includes proposed FY14 spending on R&D, STEM education, manufacturing, broadband, small business support, technology transfer, entrepreneurship, innovation workforce initiatives and more.
The full report is available for download in pdf format (626 kb).
Recent research on the evolving role of universities finds the emergence of an entrepreneurial society has contributed to a broader and more fundamental role for universities — that is to provide thinking, leadership and activity to enhance entrepreneurship capital. University-based entrepreneurship programs and initiatives seem to have gained steam following the recession with federal support for programs to enhance entrepreneurial efforts in states and regions and increased interest from students and out-of-work individuals.
In his State of the State address, Gov. Neil Abercrombie stressed the importance of investing in innovation to diversify the state's economy and grow Hawaii's economic base, traditionally rooted in military and tourism. To this end, the governor wants to back startup companies with $20 million over two years for what he considers the critical building blocks of an innovation ecosystem: research commercialization, entrepreneur mentoring and the mobilization of startup investment capital.
Over the last month, Gov. Scott Walker has slowly rolled out a series of ambitious proposals ranging from $25 million for venture capital investment to $100 million for worker training and nearly $500 million in new state funds for public education. Together, these and other broad-ranging initiatives make up the $68 billion 2013-15 biennial budget unveiled in its entirety yesterday.
The University of Maryland announced the Academy for Innovation and Entrepreneurship, an initiative to infuse a culture of innovation and entrepreneurship across its campus through a series of classes, workshops and outside-the-classroom experiences. By providing the necessary encouragement and resources, the university administration hopes to empower students and faculty to translate their passions and creative ideas into real-world solutions to economic, societal, technological and cultural problems. Launching in fall 2013, the academy will be led by Dr.
In July 2009, President Obama challenged community colleges to graduate an additional five million students by 2020. According to the president's speech, community colleges uniquely are positioned to fuel the future of U.S. competiveness by developing an educated, skilled workforce to address the needs of a 21st century workplace.
On her last day, Secretary of State Hillary Rodham Clinton announced several State Department initiatives that aim to have a global impact. A number of those that will be funded focus on technology-based development. The program wPower seeks to advance women's clean energy entrepreneurship around the world by supporting 7,000 women to launch small businesses around energytechnologies that might increase energy access in their area.
Tom McDonnell, President and CEO of the Kauffman Foundation, on Tuesday presented the organization's outlook on the current level of entrepreneurial activity in the U.S.. He began with news that there was growing national consensus that entrepreneurs can help promote growth in the sluggish economy, but cited challenges in capital financing and regulations.
Babson University researchers report that nearly half of all the world's entrepreneurs are between the ages of 25-35 years, according to the 2012 edition of the Global Entrepreneurship Monitor. Also, in all geographic regions, 25-34 year olds reported the highest rates of entrepreneurship. Babson researchers, however, emphasize that large numbers of entrepreneurs are found at all age ranges. Read more...
A new article from Governing magazine is promoting free digital access to public information, or “Open Data,” as a pathway for promoting entrepreneurship and government cost-savings. When governments release free digital public records entrepreneurs can use the information to create apps that provide valuable and profitable services to consumers.
Through a combination of new funding in the current budget and legislative measures aimed at coordinating state efforts and measuring progress, Gov. Bob McDonnell hopes to showcase Virginia as the premier destination for entrepreneurs to start or relocate a business. New funding, to the tune of nearly $10 million, would be used to establish a regional accelerator grant program, cybersecurity accelerator, and career pathways development program, among others.
In an attempt to leverage the economic promise of young people, the state of Kentucky is launching a new public-private initiative designed to enhance creative thinking and entrepreneurial skills. The Governor's School of Entrepreneurs will be launched this summer as an experiential program that brings together representatives from Kentucky's science, engineering, design, entrepreneurial, and higher education communities to teach promising high school students from across the state on business fundamentals, entrepreneurship, product design, and creative thinking.
Two small grant programs and a minor reorganization of related functions within the U.S. Small Business Administration are the aims of a bill introduced Nov 26 by Democratic Sens. Mary Landrieu and John Kerry. "Today's Entrepreneurs are Advancing Mentorship Act of 2012," or the TEAM Act (S. 3638) for short, would create an Office of Entrepreneurial Support within SBA to administer the grant programs, oversee online entrepreneurship education and resources, coordinate programs targeting youth entrepreneurship, and host international groups interested in U.S. entrepreneurship.
The world's fifth annual Global Entrepreneurship Week kicked off on Monday celebrating and encouraging innovators and entrepreneurs throughout the world. Founded by the U.S.-based Ewing Marion Kauffman Foundation and the UK-based Make Your Mark Campaign, the weeklong program now spans 115 countries with 37,000 activities that reach upwards of seven million people. Activities include a Global Cleantech Open Ideas Competition, Startup Weekend and the Global Student Entrepreneur Awards.
In an era of tightening fiscal constraints, states have to make tough decisions, establish clear economic development funding priorities and transform their economic development models to take advantage of immediate opportunities and position their state for long-term economic growth. Mississippi, Oklahoma and Washington have released state-specific strategic plans that make those tough decisions by focusing their resources on key science & technology (S&T) areas to address the economic impacts of the Great Recession and position the state for future prosperity.
Building on a previous statewide initiative to boost technology entrepreneurship, a group of Rhode Island organizations have combined resources to launch a new effort called the Founders League. The idea is to assemble a treasure trove of support from universities, a mentorship-driven accelerator, and the Chamber of Commerce to provide resources and connections for established and aspiring entrepreneurs.
To better serve all parts of the state by connecting experienced mentors with startup companies, the Kentucky Innovation Network has a new name and logo, a tighter focus, and expanded services. Established in 2002 as the Innovation and Commercialization Center program, the Kentucky Innovation Network will offer services to entrepreneurs from 13 locations across the state, and as part of the re-branding effort, three smaller centers will be upgraded to full-service centers.
With their vast knowledge about technology and access to expertise inside and outside the university, graduate and post doctoral students play an important role in helping spinoff successful companies. Moreover, universities should encourage students to explore entrepreneurship through spinoffs as a potential career option outside of academia. This recommendation is among three guidelines outlined in a recent report that examines the important roles of students and faculty in the university technology transfer process.
The Obama administration today announced the 12 winners of the multi-agency Rural Jobs and Innovation Accelerator Challenge. Approximately $9 million in federal funding will help support rural public-private partnerships to promote job creation, accelerate innovation and provide assistance to entrepreneurs and businesses in a wide range of industrial sectors in rural regions across the country.
Pennsylvania Gov. Tom Corbett has signed off on a series of bills intended to give state-owned universities more flexibility in working with regional businesses and creating new advanced degree programs. The bills are collectively known as the Higher Education Modernization Act and apply specifically to the Pennsylvania State System of Higher Education (PASSHE), which is the nation's tenth largest state university system, incorporating Pennsylvania's 14 state-owned institutions.