NDE-news: January 23

If you encounter problems viewing this email go to http://www.publicforuminstitute.org/nde/news/nde-news.htm

Week of January 23 - 29, 2006 Welcome 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.
European Innovation Scorecard The latest version of the European Union’s Innovation Scorecard 2005 was released earlier this month, and the overall picture for Europe—at least when compared to the US and Japan—isn’t too great. While some EU members may be slowly closing the innovation gap with the US, the gap vis-à-vis Japan is actually growing. Overall, the research suggests that it could take fifty years for the entire EU (including its new members) to catch up to the US’s innovation performance. Within the EU, country performance varies wildly. The EU’s leading innovators—Switzerland, Sweden, Finland, Denmark, and Germany---show an innovation performance comparable to that of the US and Japan. Not surprisingly, many of the EU’s newest entrants, such as Estonia, Romania, and Poland---score poorly and actually show weakening performance in some areas. Thus, a major challenge for EU leaders is not only to promote excellent innovation performance in the leading countries, but to also assist new EU members in “catching up” to their fellow Europeans. To learn more about the European Union’s Innovation Scorecard 2005 and to view reports on each European Union member, visit http://www.trendchart.org/scoreboards/scoreboard2005/index.cfm
Panel named to develop entrepreneurship curriculum Seeking to advance entrepreneurship education in colleges and universities, the Kauffman Foundation announced the formation of a multidisciplinary panel of distinguished scholars who will provide recommendations for a comprehensive approach to teaching entrepreneurship to college students. Through the Kauffman Panel on Entrepreneurship Curriculum in Higher Education, the Foundation seeks to create a framework that becomes the gold standard for an exemplary university-level educational program in entrepreneurship. Chairing the Kauffman Panel on Entrepreneurship Curriculum in Higher Education is Richard Newton, Ph.D., dean of the College of Engineering at the University of California-Berkeley. Other panel members, representing a variety of academic disciplines, are: Rodney Brooks, Ph.D., director of the MIT Computer Science and Artificial Intelligence Laboratory William Green, Ph.D., dean of The College at the University of Rochester R. Glenn Hubbard, Ph.D., dean of the Columbia Business School at Columbia University Dipak Jain, Ph.D., dean of the Kellogg School of Management at Northwestern University Linda Katehi, Ph.D., the John A. Edwardson Dean of Engineering at Purdue University George McLendon, Ph.D., dean of the faculty of Arts & Sciences at Duke University Jim Plummer, Ph.D., dean of the School of Engineering at Stanford University, and Myron Roomkin, Ph.D., the Alfred J. Weatherhead, III professor of Management and dean at Case Western Reserve University To assist in developing the new curriculum guidelines, panel members will evaluate relevant research about the process of successful business formation and will review what has been learned in the many existing programs on entrepreneurship under way throughout the United States. The Panel expects to issue its curriculum report in 2007.
Teens and Innovation American teenagers are optimistic about the power of technology and innovation to help solve pressing world problems. That’s one take-away from a new survey of American teenagers, sponsored by the Lemelson-MIT program. They are also optimistic about their own abilities to thrive in the current marketplace. More than 70% believe that they have learned the key skills of problem-solving, teamwork, and creativity via their high-school education. However, few teens felt they were well-prepared to deal with financial issues. Only 32% felt they had learned how to budget money. The survey asked teens to select their preferred careers, and arts and medicine topped the list. Engineering was third most popular choice, but few girls (only 4%) noted this option. In contrast, twenty-four percent of boys selected engineering as their top career choice. To learn more about the Lemelson-MIT Innovation Index survey of American teenagers, visit http://web.mit.edu/invent/n-main.html
Venture Fundraising in 2005 — A Very Good Year The first in a series of reports on venture capital performance in 2005 was released this week by the Thomson Venture Economics and the National Venture Capital Association. Venture capital fundraising in 2005 was quite strong, as 182 funds attracted $25.2 billion, the highest level since 2001 and a 45% increase from 2004. The real boom occurred in buy-out/mezzanine funds. Here, 159 funds raised an astounding $86.2 billion. This total represents a 67% increase from last year. This boom in fundraising raises several critical questions, according to industry experts. Where will the buyout dollars be deployed? Is there too much money chasing too few deals? One positive outcome could result if these dollars are deployed to acquire venture-backed firms, thus fueling a spike in exit activity. On the venture capital side, a majority of the fundraising is focused on early stage or balanced funds. This is a potential good sign for entrepreneurs seeking their first equity investments. To view the Thomson Venture Economics/National Venture Capital Association review of 2005 private equity fundraising activity, visit http://www.nvca.org/pdf/FundraisingQ42005final.pdf
ORGANIZATIONAL SPOTLIGHT Larta Institute 714 West Olympic Boulevard, #750 Los Angeles, CA 90015 (213) 744-1314 mail@larta.org www.larta.org If you’re interested in the latest news on technology transfer and commercialization, you might want to check out the website for Larta, a Los Angeles-based non-profit focused on technology development, entrepreneurship and commercialization. Larta produces a very informative e-newsletter called Larta VOX. Recently, Larta has partnered with Innovation Pipeline to jointly publish articles on the latest trends in the field. Larta VOX’s most recent issue (January 9, 2006) contains a number of interesting pieces, including an interview with Draper Fisher Jurvetson’s Raj Atluru on new opportunities in the field of alternative energy.
	National Dialogue on Entrepreneurship 2300 M Street, NW; Suite 900 Washington, DC 20037
All stories © 2005 The Public Forum Institute Content from this newsletter may be reproduced for non-commercial purposes with proper attribution to the National Dialogue on Entrepreneurship and a link to www.publicforuminstitute.org/nde. Subscribe: To sign up to receive NDE-news, visit www.publicforuminstitute.org/nde/join/ Unsubscribe: This email was sent to (%Email%). Unsubscribe this email address. If you have problems with the automated process please e-mail Mark Marich with your email address in the body and your unsubscribe request will be handled promptly. Privacy Statement: The Public Forum Institute recognizes and respects the importance of protecting the privacy of all information provided by recipients of our e-mail newsletter. We use a variety of security technologies and procedures to help protect your personal information from unauthorized access, use, or disclosure and will not share personally identifiable information with other companies or organizations.

Week of January 23 - 29, 2006