entrepreneurship

Recent Research: Website diversity shown to attract more prospective entrepreneurs

A recent research study suggests that diverse identity representation of website spokespeople increases the likelihood of attracting a higher proportion of prospective entrepreneurs.

$5.4M in prizes to support inclusive entrepreneurship announced by SBA

The Small Business Administration (SBA) has announced a combined total of $5.4 million in awards to innovation-focused entrepreneur support organizations with programs to support entrepreneurs researching and developing STEM-related innovations. The 2021 competition included two prize tracks with 84 winners for the Growth Accelerator Fund Competition (GAFC) and eight winners for the new SBIR Catalyst competition, which aims to spur investment in underrepresented communities within the innovation economy.  

DOC seeking NACIE applicants

The U.S. Department of Commerce is seeking applicants for the National Advisory Council on Innovation and Entrepreneurship (NACIE). NACIE advises the U.S. Secretary of Commerce on matters related to accelerating innovation and entrepreneurship, advancing the commercialization of research and development, promoting workforce development, and other related matters. NACIE is managed by the Economic Development Administration’s (EDA) Office of Innovation and Entrepreneurship. Members will be selected based on their ability to advise the secretary on matters relating to the acceleration of innovation and the support for and expansion of entrepreneurship, and will serve for two years. 

Entrepreneurship has declined while student loan debt has increased, Kauffman reports

Nearly 1 in 6 adults carrying outstanding student loan debt (1 in 3 among 18 to 29 year olds), with both the number of borrowers and the debt amount increasing in recent decades. Meanwhile, the share of new entrepreneurs aged 20 to 34 declined from 34 percent to 27 between 1996 and 2019, and a new issue brief from the Ewing Marion Kauffman Foundation notes that among individuals who start businesses, higher levels of student loan debt are negatively related to business income and employment. Noting that the debt can directly affect an individual’s overall personal financial resources, and indirectly affect ability to start a business, the brief extends some considerations for decision makers who seek to respond to those challenges.

Report: Better outcomes for students at Tribal Colleges and Universities with entrepreneurship courses

A new report from the Minority Business Development Agency (MBDA) highlights the impact of business and entrepreneurship courses at Tribal Colleges and Universities (TCUs), which have long served as bastions of cultural identity at many American Indian and Alaskan Native reservations and important economic drivers in these prominently rural areas.

Recent Research: Region’s personality makeup helps shape entrepreneurial behaviors

Building on top of the notion that diversity of industry is central to a region’s entrepreneurial success, recent research has noted that the personalities of people living throughout a region also play an important role in local knowledge spillover and the economic diversity of the area. The report, Entrepreneurship in Cities by Sam Tavassoli, Martin Obschonka, and David B.

SBA launches more than $100M in new funding programs to support equitable and inclusive entrepreneurship

This week the Small Business Administration (SBA) released several funding opportunities to support and promote equitable and inclusive economic recovery for entrepreneurs and small businesses. The new Community Navigator Pilot Program will award $100 million to support regional “hub and spoke” networks in providing technical assistance, training, direct financial assistance, and other services to underserved small businesses.

Alabama governor signs measures to boost state’s innovation economy with $9M in appropriations

Alabama is the latest state that is embracing innovation as a way to grow the state’s economy. On May 19, Alabama Gov. Kay Ivey signed legislation that grew from two top priority measures of the Alabama Innovation Commission — proposals discussed between SSTI and commission members in a meeting earlier this year.

DHS withdraws previously proposed removal of the International Entrepreneur Parole Program

The Department of Homeland Security has recently announced its withdrawal of the previously proposed removal of the International Entrepreneur Parole Program. The program allows for DHS to use its parole authority to grant foreign entrepreneurs a period of authorized stay within the United States with the aim that their start-up business can serve as a public benefit through job creation and economic development.

Latino entrepreneurship continues growth throughout US

Throughout the past decade, the Latino entrepreneurial landscape has experienced both a growth in average annual revenue and an increase in the establishment of new employer businesses. However, Latino business owners remain significantly less likely than white business owners to receive loan approvals from major banks, resorting instead to financing options that expose the business owners to more personal financial risk including personal and business lines of credit and personal home equity loans.

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