Amidst all the bad news in Iceland related to the economic crisis and the disruption caused earlier this year by the Eyjafjallajokull volcano, the country has seen some entrepreneurial silver linings. The stream of positive signs I noticed began in March this year when Iceland replaced the United States as the INSEAD world champion in innovation. Then in Dubai that same month, Iceland won the Global Entrepreneurship Congress award for best entrepreneurship movement during the 2009 Global Entrepreneurship Week. And more recently, entrepreneurship was incorporated into public discourse as a main driver of economic regeneration when Iceland’s President led a summit in his country on innovation, entrepreneurship, and green energy. With Iceland getting so much attention for being on the brink of bankruptcy, I thought such good news about signs of an entrepreneur-led economic resurgence deserves note.
It is an important week for entrepreneurship in the Middle East. Here in Dubai, two important global summits will be convened by His Excellency, Sheikh Nahayan Mabarak Al Nahayan, United Arab Emirates Minister of Higher Education and Scientific Research, and Carl Schramm, President of the Kauffman Foundation: The HCT Global Entrepreneurship 2010 Conference (E2010) and the Kauffman Foundation’s Global Entrepreneurship Congress which I will emcee. Continue reading
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 of many vibrant economies, such as Silicon Valley, whose engine is Stanford University. A key question, therefore, is whether we are maximizing the positive economy-wide impact of these engines for knowledge, innovation, jobs and competitiveness. Continue reading
So we know that entrepreneurs are the primary engines of job creation in the United States. Research study after research study has confirmed that it is young firms that drive improvements in the employment situation. From 1980–2005, firms less than five years old accounted for all net job growth in the country. In 2007 alone, young firms (1-5 years old) accounted for nearly two-thirds of job creation. We also know more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc. list of America’s fastest-growing companies. In light of all this evidence and in face of the employment crisis in the country, what can we do to truly support the entrepreneurs behind these young firms? Continue reading
When President Obama will deliver his first State of the Union address is still unclear. However, with 80 percent of the population believing that new economic growth and jobs will come from entrepreneurs, discussion around what his address should include in terms of policies that encourage new start-ups is already underway. Continue reading