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Week of September 5 - 9, 2005Welcome to the National Dialogue on Entrepreneurship, an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving the innovation economy. Subscribe now to receive your weekly copy. Archived issues are available online. Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday on the NDE main page - bookmark it and stay informed about the latest entrepreneurship news. |
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The Cost of Doing Business: How Do States Rank?
The Milken Institute
recently released the latest version of its annual ranking of how states
perform in terms of the cost of doing business. The list, which measures
wage costs, taxes, electricity and real estate costs, doesn’t include
any big surprises. In fact, 2005’s rankings look a lot like those from
2004. Hawaii continues to top the list with business costs that are 43
percent higher than the national average. Other high-cost centers
include (in rank order): New York, Massachusetts, California and
Connecticut. If you’re looking for cheap places to operate, check out
the Great Plains and Mountain West. South Dakota has the lowest
operating costs, followed closely by North Dakota. Other places with low
business costs include Iowa, Idaho and Montana. |
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Innovation Environments in Europe and the US
An interesting new research
paper compares and contrasts innovation environments in Europe and the
US. “Evaluating and Comparing the Innovation Performance of the United
States and the European Union,” by Giovanni Dosi, Patrick Llerena and
Mauro Sylos Labini, finds significant performance differences between
the US and EU countries. While the European Union (EU) maintains
significant strengths in areas such as physical sciences and
engineering, its overall performance lags that of the United States. In
areas of high-level research and innovative product development, US
universities and firms consistently outperform their European
counterparts. Few European firms are major players in leading technology
sectors like information technology or biotechnology. The authors
recommend that the EU nations invest more resources in basic research,
and make a stronger financial commitment to supporting world-class
research universities. They also suggest consideration of a more
interventionist industrial policy to improve European performance in key
industry sectors, such as energy conservation, nanotechnology and
environmental protection. |
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Canadian Business Embraces Innovation
Canada’s technology
businesses are making a big push to encourage the country’s government
to put more resources and more attention into promoting innovation. A
new report from Canada’s high-tech lobby, the Canadian Advanced
Technology Alliance (CATAlliance), urges the federal government to
partner with industry behind a new “Enterprise Canada” strategy. The
report calls for a “total war approach” to tackling the
commercialization challenge. How to do this? The paper recommends the
use of tax incentives to encourage angel investors and a reduction in
the tax burden on small firms. It also advocates creation of a national
Commercialization Center of Excellence that would gather and disseminate
best practices in the fields of technology transfer and
commercialization. |
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Information Technology Markets Looking Up
The future prospects for
information technology (IT) markets are looking up, according to
recently released industry surveys. In a new review of worldwide IT
spending trends, IDC, a technology research consultancy, finds that
worldwide IT spending should reach $1.3 trillion by the end of 2009.
This figure would represent a healthy 5.9 percent annual growth in the
industry between 2005 and 2009. Key customer segments will include
health care, manufacturing, banking and government. Meanwhile, America’s
IT market also looks strong. Recent research from the Gartner Group
finds that American IT executives expect growth in IT employment in the
coming year. Gartner’s 2005 IT Market Compensation survey finds that 66
percent of surveyed organizations expect to increase hiring in the
coming year. Hiring should be especially strong in the financial
services sector and in the nonprofit/public sector market. Salaries are
expected to grow at a rate of 3.5 percent next year, a very slight
increase from last year. |
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New Resource on New Ventures in China Much of China’s economic boom has been a top-down process, where state-run or state-sponsored enterprises have generated and led economic growth. But, lately, this top-down process has been supplemented by the bottom-up emergence of new entrepreneurs throughout China. If you’re considering tracking these developments, you might be interested in a new blog and web page, China Venture News. China Venture News tracks what’s happening in the world of venture capital and entrepreneurship, with a strong focus on the biotechnology and information technology sectors. You can access China Venture News at www.chinaventurenews.com. |
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