entrepreneurship

While conventional wisdom suggests that university entrepreneurship efforts should focus on faculty spinoffs or student inventions, recent research highlights the importance of student talent in entrepreneurial ecosystems. In an effort to create employment opportunities in the startup space, several universities throughout the country are implementing programs that embed students into their local startup communities.

Mentoring programs may be celebrated across the nation as January marks National Mentoring Month, a movement started in 2002 to raise awareness of mentoring in all its forms. But more could be done to make programs more effective in both university and non-university settings, according to a recent working paper from the Ross School of Business at the University of Michigan.

Adding to the national debate regarding U.S. immigration policy, the Center for American Entrepreneurship (CAE) reviewed the 2017 Fortune 500 list, finding that 43 percent of the companies were founded or co-founded by a first or second generation immigrant. Those companies account for 52 percent of the top 25 firms, are headquartered in 33 different states, and accounted for $5.3 trillion in global revenue in 2016, the CAE analysis found.

Despite concern that America’s entrepreneurial engine is severely damaged, new research from the Information Technology and Innovation Foundation (ITIF) finds that the number of technology-based startups has grown by 47 percent from 2007 to 2016, with wage growth higher than the national average. Because of their high growth potential, the authors suggest that technology-based startups should be the primary focus of entrepreneurship policy.

Last week in honor of Veteran’s Day, the U.S. Department of Agriculture, states, universities, and various nonprofits announced new efforts that are intended to help U.S. veterans succeed as entrepreneurs and launch careers in 21^st century STEM-driven fields. From tax credits in Massachusetts to online training in data analytics, efforts will focus on providing veterans with the necessary training, education, tools, capital, and other resources to create a better future for those veterans, their families, and communities across the country.

The third annual National Apprenticeship week will be celebrated next week, with more than 700 activities planned across the country to showcase programs, facilities and apprentices. For those still interested in participating through an open house, skills competition, or other event, there is still time to register your event.

Entrepreneurial growth continues to rebound and is spreading to different industries and geographies, according to the 2017 Kauffman Index of Growth Entrepreneurship, yet the report also states that entrepreneurial growth “continues to be a rare phenomenon. Most firms are not growth firms.” The five metropolitan areas with the highest levels of entrepreneurship were, in order: Washington, D.C.; Austin; Columbus, Ohio; Nashville; and Atlanta, according to the report.

Initial public offerings (IPOs) can alleviate financing constraints and help support important activities such as operations, R&D, and expansion. Despite these perceived benefits, new research finds that the transition to public equity – and the financial windfalls that follow – prompt many of a company’s early innovators to depart the firm, which has impacts on both innovation internally and at other firms.

Two recent reports provide good news and bad news regarding innovation in America’s rural areas. Only one in six individuals living in rural areas was self-employed in 2016 — down from one in four in 1988, according to a new issue brief from the Small Business Administration (SBA). This represents a decline of nearly 20 percent over that span of time.

Over the last several months, economic development organizations, universities, and their partners have announced new efforts to create the building blocks for entrepreneurial development in rural communities. Examples include i2e announcing new efforts to expand entrepreneurial support services to rural communities in Oklahoma and three Indiana universities partnering to support startup growth in rural regions across the state.