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Week of July 17 - 23, 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.

New SBA Head Sworn In

The US Small Business Administration (SBA) has a new Administrator. Steve Preston, was confirmed by the Senate in late June, and was formally sworn in last week. Preston is the 22nd Administrator since SBA was first created in 1953. Previously, Preston served as Executive Vice President at The ServiceMaster Company, a major franchising operation. Preston has not offered a lot of details about his vision for SBA, but we hope that he will continue the agency’s strong support for America’s entrepreneurs.

To view a Small Business Administration press release about Preston’s swearing-in, visit http://www.sba.gov/news/06-46.pdf.

The Growing Number of Angels

Individual angel investors continued to form organized investor groups with the number of angel groups increasing by nearly 60 percent in the past three years, from an estimated 150 in 2002 to 250 last year, according to an analysis by the Angel Capital Education Foundation (ACEF) and the Ewing Marion Kauffman Foundation. The survey also revealed that the average angel group invested $1.45 million and that the average angel group invested $266,000 per round and $387,000 per company during calendar 2005. While investments by angel groups are a small fraction of the estimated $23.1 billion in total angel investment last year, the analysis indicates that the professionalism and sophistication of angel groups is increasing along with the number of groups.

The analysis was released at the ACEF’s recent annual North American Summit and the PowerPoint noting the statistics is available at www.angelcapitaleducation.org. 

A New Democratic Competitiveness Strategy

The Progressive Policy Institute, a think tank affiliated with the Democratic Leadership Council, is out with a new policy report outlining a “third way” approach to ongoing debates about the US’ international competitiveness. Raising our Game argues that America needs a new National Competition Strategy to succeed and excel in the global marketplace. It includes four sets of proposals:

  • Put Innovation First: Increase in investments in science and R&D.

  • Strengthen the World Trading System: Open foreign markets and reduce current trade and financial imbalances.

  • Establish a New Compact for Worker Security: Create a strong safety net for displaced workers.

  • Restore Fiscal Sanity: Reduce the US budget deficit.

The 2006 Progressive Policy Institute report, Raising our Game: A National Competition Strategy, by Edward Gresser, Paul Weinstein, Jr., and Will Marshall is available at: http://www.ppionline.org/documents/Raising_Game_062906.pdf.

Comparing Russian and Chinese Entrepreneurs

An interesting set of new studies from researchers affiliated with Russia’s Center for Economic and Financial Research compares Russian and Chinese entrepreneurs. The researchers surveyed approximately 800 entrepreneurs in 14 different locations (7 each in Russia and China) to assess their educational backgrounds, family backgrounds, and other factors influencing their interest in entrepreneurship. This group was then compared to a larger group of non-entrepreneurs. Not surprisingly, the entrepreneur cohort was more open to risk-taking, greedier, and more likely to have other entrepreneurs among their family and friends. Russian entrepreneurs had better than average education, but this effect did occur in China. The researchers plan further studies to build upon these initial findings.

To access the 2006 Center for Economic and Financial Research Working Paper, Entrepreneurship in China and Russia Compared, by Simeon Djankov, Yingyi Qian, Gerard Roland, and Ekaterina Zhuravskaya, visit http://www.cefir.ru/papers/WP49entJEEA06.pdf

Global Growth Companies

The World Economic Forum, best known for its glitzy gathering in Davos, is getting serious about supporting high-growth entrepreneurs. It has recently announced a new initiative called “The Community of Global Growth Companies.” This effort, which will be headquartered in China, is designed to bring together executives from fast-growing firms who are seeking to become global champions in their respective markets. While many of the details for this network are being worked out, the Community has already announced its plans for first annual summit to be held in China in August 2007.

Learn more about the World Economic Forum’s Community of Global Growth Companies.

New University Network on Social Entrepreneurship

Ashoka, a funder of social entrepreneurs around the globe, is also working to build networks of social entrepreneurship researchers. Ashoka is now sponsoring “The University Network for Social Entrepreneurship.” The network seeks to build a collaborative of researchers who share research—both completed and in progress. The new site (www.universitynetwork.org) will be up and running soon, but, at this point, Ashoka is seeking contributions of papers and other research from researchers, practitioners, and others with an interest in social entrepreneurship. The deadline for initial submissions is July 30, 2006.

To learn more about the new University Network for Social Entrepreneurship, visit http://www.ashoka.org/home/universitynetwork.pdf. Submissions (due by July 30, 2006) can be sent to submissions@ashoka.org. 

Kauffman Foundation    The Public Forum Institute

National Dialogue on Entrepreneurship
2300 M Street, NW; Suite 900
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Mark Marich, Editor

All stories © 2006 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. 

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