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

Week of November 19 - 25, 2007

Global Entrepreneurship Week/USA Announced for November 2008

Plans for the first Global Entrepreneurship Week were unveiled last week in London by Carl Schramm, president of the Kauffman Foundation, and British Prime Minister Gordon Brown. From November 17-23, 2008, the Week will engage young people everywhere in a variety of activities to learn about the possibilities of entrepreneurship. More than 30 countries from around the world--such as Australia, Brazil, China, France, Mexico, Nigeria, Pakistan, Uganda, United Kingdom and the United States--are already on board (a full list is available at www.unleashingideas.org).

"Young people are involved in entrepreneurial ventures all around the world, using their creativity, ingenuity, and energy to start businesses and solve problems," said Schramm. "This enterprising spirit—the core of Global Entrepreneurship Week—is an invaluable resource the world must tap as we seek to extend the benefits of economic growth to more people across the globe and address the complex challenges facing us all."

Global Entrepreneurship Week/USA
EntrepreneurshipWeek USA, the pilot initiative led by the Kauffman Foundation earlier this year, resulted in 1,310 partner organizations planning more than 3,700 activities that directly engaged 481,449 participants. The planners expect to eclipse these numbers in November 2008 as more than 350 organizations already have signed up as Partners and committed to planning an activity during the Week.

While the Week has expanded to be global in scope, activities in the United States will still carry the same local and national feel as the 2007 pilot event.

"There will be one or two global activities that people from all countries can take part in," added Ortmans. "But at its heart, this initiative will continue to be driven by our partners and their community-based activities throughout the country."

The initiative continues to receive the endorsement of the nation's leading governors on the topic of innovation.

"As Chair of the National Governors Association in 2006-07, I championed the idea that innovation is essential to America's competitiveness. Global Entrepreneurship Week/USA is a great way to promote that innovation," stated Governor Janet Napolitano of Arizona.

Napolitano serves as the Co-Lead Governor on Innovation for the National Governors Association along with Governor Jon Huntsman of Utah.

"Global Entrepreneurship Week/USA inspires future business leaders to embrace creativity, innovation and a vibrant entrepreneurial spirit. One individual's invention could be a society's solution to a higher quality of life," Huntsman said. "This is a critical message to our youth: today's economy values creativity and determination."

Global Entrepreneurship Week/USA is presented by the Kauffman Foundation with additional support from NYSE Euronext and IBM. For more information on the Week, visit www.unleashingideas.org.

Survey Shows Youth Interest in Entrepreneurship

Coupled with the announcement of Global Entrepreneurship Week/USA, the Kauffman Foundation released the findings from a survey that shows America’s young people want to be their own boss. The Foundation commissioned Harris Interactive to conduct an online survey of 2,438 youth ages 8 to 21 about entrepreneurship. It shows that four in 10 young people would like to start their own business in the future, while another 37 percent believe starting their own business is a possibility. Those who want to have their own business say their top reasons are to use their skills and abilities (92 percent), build something for their future (89 percent), be their own boss (87 percent), see their ideas realized (81 percent) and earn lots of money (85 percent). In the United States, 63 percent of respondents in the Harris survey already believe that, if they work hard, they can be entrepreneurs.

Download a fact sheet from the Kauffman Foundation website.

Angels' Returns Match VC Results

Angel investors participating in organized angel groups are seeing average returns--27 percent--that rival those of in the VC industry. The “Returns of Angel Investors in Groups” study, released by the Kauffman Foundation and the Angel Capital Education Fund, shows that within 3.5 years from investment to exit, this group generated 2.6 times their invested capital. Seven percent even generated returns 10 times their initial investment. However, the risk inherent in angel investing also was illuminated--just over half of the cases resulted in a negative return with some or all investment capital lost. The study, by Robert Wiltbank of Willamette University and Warren Boeker of the University of Washington, also showed that more due diligence, industry experience and active participation with the company all had a positive impact as could be expected. It also shows that in more than two-thirds of the cases, follow-on investing ends up being nothing more than throwing good money after bad, resulting in a loss. 

Download Returns of Angel Investors in Groups from the Kauffman Foundation website.

The National Dialogue on Entrepreneurship is 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 entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online.

National Dialogue on Entrepreneurship

All stories © 2007 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.