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Week of February 27 - March 5, 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.

Small Business Confidence Remains High Going into 2006

The National Federation for Independent Business’ (NFIB) regular survey of small business optimism remains at a high level for the beginning of 2006. The January numbers were released earlier this month. The overall Small Business Optimism index dropped very slightly—down 3/10 of a point to 101.1 (1986=100). But, NFIB researchers and business owners remain confident about future prospects. They point to several causes for optimism within the survey’s results. First, the small business job market appears to be improving as the number of owners expecting to hire in the next quarter grew by two percent. Second, the number of owners with job openings grew by 4% from the previous quarter. Other positive signs are that owners are not reporting high levels of price pressure, and level of both capital investment and profitability remain steady.

To the view a summary of the January 2006 National Federation of Independent Business Small Business Economic Trends Report, visit http://www.nfib.com/object/IO_26807.html

The Internet and Social Networks

When the Internet first took off, some observers feared that it would contribute to a further weakening of social ties. “Bowling Alone” would be replaced by “Web-surfing Alone.” A new study from the Pew Internet and American Life project indicates these early fears were unfounded. The report, The Strength of Internet Ties, finds that the Internet is helping to build social capital. A new form of community, “networked individualism,” is arising. Via “networked individualism,” people no longer need to rely on a single community for social capital. Instead, they can reach out to different people and communities for different situations. Through email, individuals can maintain close contacts with a much larger and more diverse network. Survey respondents lauded the Internet’s role in helping them connect with other people, get needed information, and make important decisions. In fact, 60 million Americans reportedly have used the Internet when making a major life decision, such as issues around health care for loved ones, pursuing an education, or changing careers.

To view the January 2006 Pew Internet and American Life project report, The Strength of Internet Ties, by Jeffrey Boase, John B. Horrigan, Barry Wellman, and Lee Rainie, visit http://www.pewinternet.org/pdfs/PIP_Internet_ties.pdf

The 2005 Slate 60

The online magazine Slate is out with its latest edition -- the 10th -- of the Slate 60, a listing of the sixty biggest charitable donations provided each year. As in the past, successful entrepreneurs are among the top givers in 2005. Philanthropy has boomed over the ten years of the Slate 60. The biggest gift in the inaugural list (1996) totaled $121 million (in current dollars). This year’s top gift reached $404 million. Overall, the sixty gifts in the 2006 list total $4.3 billion. This year’s biggest gift comes from the late Cordelia Scaife May who donated $404 million to three causes: Pittsburgh’s Colcom Foundation, the Nature Conservancy of Hawaii, and the Kauai National Tropical Botanical Garden. Other big givers on this list are Bill and Melinda Gates (no. 2 with $320 million in gifts), E-Bay’s Pierre Omidyar (No. 8 with $133.7 million in gifts) and Oracle’s Larry Ellison (No. 10 with a $115 million pledge to Harvard University).

To view the 2005 Slate 60 list, visit http://www.slate.com/id/2136384/

China’s Next Great Leap Forward?

The Western world isn’t alone in attempting to stimulate home-grown science and technology development. China’s State Council (or cabinet) has recently released its own plans for investing in and stimulating the development of the nation’s science and technology assets. The National Medium and Long-Term Program for Science and Technology Development sets ambitious targets for Chinese science and technology between 2006 and 2020. By 2020, the program expects that Chinese spending on R&D will reach 2.5% of gross domestic product. It also anticipates that reliance on foreign technologies and other support will drop to less than 30% of the total. In keeping with China’s commitment to a centralized industrial policy, the report also identifies sixteen key technologies that will receive greater levels of public attention and investment over the next decades. This wide-ranging list includes computer software, telecommunications, biology, nuclear energy, and manned space flight.

To view a press release describing the new Chinese State Council’s National Medium and Long-Term Program for Science and Technology Development, visit http://english.people.com.cn/200602/10/eng20060210_241497.html.

7th Million Patent Issued

Earlier this month (on February 14, 2006), the U.S. Patent and Trademark Office issued its 7th million patent. The award went to DuPont’s John O’Brien for a new textile application: “polysaccharide fibers” and their production processes. While polysaccharide fibers are an interesting topic on their own, entrepreneurs may be more interested in the timeline up to patent number 7 million. From the establishment of the US Patent and Trademark Office in 1836, it took seventy-five years to reach patent number one million, which was for a tubeless tire in 1911. Patent Number 6 million was granted in 1999 to 3Com’s Palm Computing for its HotSync technology. (NOTE: This patent was issued fifteen years after patent number 5 million). This month’s milestone was reached only six years later. This shortened time frame is a sign of the times---both of the ongoing boom in technology and perhaps the ongoing boom in patent litigation as well!

To view a press release describing this event, visit
http://www.uspto.gov/web/offices/com/speeches/06-09.htm

Rebuilding Gulf Coast Communities

Following the aftermath of Hurricane Katrina, many minority-owned businesses in the region are missing out on contract opportunities to help rebuild the devastated Gulf Coast communities. A new initiative by the Kauffman Foundation is looking to address the situation by offering coaching and training to minority entrepreneurs to assist them in gaining the skills and understanding they need to grow their businesses, including educating them to be better prepared to procure rebuilding contracts from both government agencies and private sector corporations. Among the specific actions being taken is the opening of an office in the Gulf region as part of the Urban Entrepreneur Partnership (UEP) along with the use of a modified Kauffman Coaches Program as the driver for entrepreneurial invigoration and economic integration.

For more information, visit www.kauffman.org 

National Dialogue on Entrepreneurship
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All stories © 2006 The Public Forum Institute
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