Policymakers around the world have increasingly come to realize that entrepreneurship, particularly high-growth entrepreneurship (HGE), is critical for economic development in nations at all levels of development. That is one reason the United Nations Foundation asked Michael Dell, founder and CEO of Dell Inc., to be the Global Advocate for Entrepreneurship and to work closely with the Foundation and its Global Entrepreneurs Council to help shape and advance a global entrepreneurship agenda.
To inform the Council’s thinking, Michael Dell led a meeting in Washington, DC, on December 2, 2014, hosted by 1776, a cutting-edge “accelerator” to help technology-based entrepreneurs translate their ideas into growing businesses. The meeting participants included tech-based entrepreneurs and policymakers, and I was asked to participate and serve as rapporteur.
Michael Dell opened up the roundtable with a discussion of proposed policy mechanisms to spur high growth entrepreneurship, including ensuring access to capital, technology, talent, and markets. The following is a summary of the themes and recommendations from the discussion.
The Nature of Technology-Enabled Entrepreneurship Opportunities
Policymakers around the world are interested in HGE because they understand that technology opportunities driving this type of entrepreneurship have exploded.
What a difference a century makes. No, not in technological innovation, but in technological pessimism. As David McCullough writes in his new history of the Wright brothers, their discovery was met with near universal excitement and optimism, even in the face of setbacks, some of them fatal. Today, a century later, innovation and innovators are more often met with skepticism, approbation, and opposition.
Case in point is from Joe Nocera’s op-ed in The New York Times about Google’s driverless car effort, as part of its Google X project. Nocera relates how John Simpson, head of the nonprofit Consumer Watchdog, bought a few shares of Google stock so he can go to their board meeting to berate Google executives for developing an autonomous vehicle. Simpson noted that Google’s cars have been involved in 11 accidents (although all have been minor and none of them caused by the AV car itself). He also warned that the Google car would steal our privacy. In other words, he berated Google for trying to innovate what could well be one of the most important technological breakthroughs of the 21st century. Indeed, as I wrote
This article was originally published in The Huffington Post. It is co-authored by Val Giddings and Jon Entine
Recently on the Huffington Post we came across a disturbing article – an attack by Jeffrey Smith on two respected university professors who apply a critical eye to the claims made by various advocates alleging dangers to human health linked to genetically modified organisms (GMOs.)
Smith, if you are not familiar with him, heads up a one-man band rabidly anti-GMO organization known as the Institute for Responsible Technology–he and his organization are controversial to say the least, but more on that later.
The subject of the attack piece was co-written by University of Illinois emeritus professor Bruce Chassy and University of Melbourne geneticist David Tribe. It appears on the website of AcademicsReview, an independent non-profit set up by the scholars to address the maelstrom of misinformation that passes for debate on the GMO issue. In one of their most pointed and heavily circulated critiques, Chassy and Tribe examine one of Smith’s two self-published books that supposedly ‘prove’ that GMO foods are reckless and dangerous.
Chassy and Tribe’s critique titled “Yogic Flying
Today, the International Agency for Research on Cancer (IARC) has departed from the scientific consensus to declare glyphosate, the active ingredient in Roundup®, to be a class 2A “probable human carcinogen”. This contradicts a strong and long standing consensus supported by a vast array of data and real world experience, and comes from an organization that rarely addresses potential pesticide carcinogenicity, perhaps because the real concerns in this area are minimal, and lie elsewhere. The IARC statement is not the result of a thorough, considered and critical review of all the relevant data. It is beyond the pale.
A vast body of relevant information, including dozens of detailed genotoxicity, studies, animal bioassays, peer-reviewed publications and regulatory assessments, that show no evidence of carcinogenicity, and confirm its safety were presented to the IARC, but seem to have been ignored. On the other hand, witnesses report one paper so severely criticized and discredited that it was condemned by the scientific community and withdrawn by the publisher was actually taken on board by IARC.
That the IARC seems to have even considered such a fatally flawed and withdrawn paper
In today’s fast-paced, globalized world, knowledge workers can choose to work anywhere. In fact, being an appealing place for people to locate, especially those with advanced skills, is a valuable national resource. Highly skilled workers earn high wages, spend those wages locally, pay domestic taxes, and contribute to spill-over effects that benefit everyone in the area. Most engineers will tell you that the most appealing location for tech workers is located right here in the United States. Some countries strike oil. Others find diamonds. The United States hit it rich with Silicon Valley.
However, Silicon Valley has a weakness that threatens this preeminence: the lack of enough skilled workers to promote expansion and innovation by existing firms and industries and the development of new ones. One of the chief causes of this problem is America’s growth-stymying, restrictive immigration policies toward high-skill, foreign-born talent. For example, for the first time in American history, there are fewer startups founded by immigrants than there were 10 years ago. The effect is especially apparent in Silicon Valley, where immigrant-founded startups dropped from 52.4 percent to 43.9 percent from 2005 to 2012. And unfortunately for
Indian Prime Minister Narendra Modi’s historic election was viewed with a great deal of optimism by much of the world, including here in the United States. His campaign platform—putting economic growth front and center—championed the kinds of policies needed to get India’s economy back on track. With the Modi Administration having been in office for just about four months now, and as he embarks on his first official visit to the United States, it’s a good moment to take stock of the Modi Administration’s accomplishments to date—and areas where we hope to see continued progress toward improving the state of U.S.-India economic and trade relations.
On the positive side, the Modi Administration has announced a number of promising economic reforms. In particular, it has:
- Retired India’s Planning Commission, a vestige of centralized state planning;
- Eased some restrictions and limitations on foreign direct investment (FDI), notably in the defense and railway sectors (with the FDI ceiling in the former raised to 49 percent and in the latter to 100 percent);
- Committed to renewed infrastructure investment in power generation and transportation networks;
- Set a year-end target to complete long-pending implementation of a
The African Growth and Opportunity Act (AGOA) is set to expire in September 2015, and last week at the United States-Africa Business Forum, President Obama pitched the idea of an early renewal, building on the growth of the Administration’s “Doing Business in Africa Campaign.” AGOA is the cornerstone of U.S. trade and investment with Africa; over its 14 year history, the program has contributed to a doubling of U.S. trade with Africa. In 2013, U.S. goods imports from sub-Saharan Africa under AGOA and the Generalized System of Preferences (GSP) program totaled $26.8 billion, more than three times the amount in 2001, the first full-year of AGOA trade.
Indeed, by providing duty-free entry into the United States for almost all African products, AGOA has helped expand and diversify African exports to the United States, while at the same time fostering an improved business environment in many African countries through streamlined eligibility requirements. These eligibility requirements remain important in the renewal process though, as part of increasing the desirability of African countries as a business destination lies in making sure that these nations have an environment that fosters growth and investment. Congress
Rashomon, for those readers who aren’t big film buffs, is a 1950’s Japanese masterpiece about a rape and murder mystery told through four different points of view. The film’s brilliant technique, now commonplace in modern narratives, presents different witnesses’ contradictory, self-serving accounts of the crimes with the audience left to sort out the truth. All the spin in policy debates these days can make interpreting current events feel like a similar exercise, with some advocates being all too eager to seize on and promote a particular interpretation, no matter how strained it may be. Case in point: Harry Reid’s recent letter to David Segal of Demand Progress on net neutrality.
Appreciating the subtleties of Reid’s letter requires some context. The most recent iteration of the now decade-long debate over net neutrality has actually seen widespread agreement over the general principles of the open Internet. All the major carriers insist they have no interest blocking or degrading traffic or splitting up websites into tiers or packages. The real controversy is over the appropriate jurisdictional framework for the FCC to build its rules on. There are two possible starting points: either
This Friday morning, July 25, the House Committee on Space, Science, and Technology will hold a full Committee markup of H.R. 2996, the Revitalize American Manufacturing and Innovation (RAMI) Act of 2013. This is the House’s companion legislation to Senate Bill 1468, which passed out of the Senate Commerce, Science, and Transportation Committee by voice vote in May.
The legislation would provide authorization, using existing funding of up to $300 million, for the Secretary of Commerce to establish up to 15 Institutes of Manufacturing Innovation (IMIs), public-private partnerships that would focus on developing advanced manufacturing product and process technologies, facilitating their commercialization, and developing workforce skills around advanced manufacturing technologies. As ITIF writes in Why America Needs a National Network for Manufacturing Innovation (NNMI) and How It Should Work, these Institutes would play a pivotal role in enhancing U.S. industrial competitiveness by supporting development of technologies that will enable U.S. manufacturers to compete in the global marketplace. The additional IMIs would join four already chartered focusing on additive manufacturing, next-generation power electronics, digital manufacturing and design innovation, and lightweight and modern metals manufacturing, all of
In mid-May, the world cheered as India elected its new Prime Minister, Narendra Modi. Many believed his election foreshadowed a new beginning for India, as Modi and his BJP party ran on a pro-growth, business-friendly platform in an attempt to improve the environment for doing business and open the country up to greater foreign direct investment, further transforming the country into a robust, 21st-century economy. Sworn in at the end of June, Prime Minister Modi has been in office for a little over a month and, while still in its early stages, his desired tone and policies are beginning to take hold.
As ITIF wrote in The Indian Economy at a Crossroads, Modi’s election heralded a potential turn away from India’s recently growing embrace of “innovation mercantilist” policies, such as local content requirements for manufacturers and arbitrary patent denials and revocations, which were one of many factors contributing to Indian economic growth sinking to decade-low levels in 2013. For example, Modi’s campaign platform included specific provisions regarding intellectual property reforms, demonstrating that he understood that fostering an innovative environment in India would be the key