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Obama Administration Boosts Entrepreneurship in the U.S. and Abroad

A White House press release enumerates new steps which target to enhance entrepreneurship efforts locally and globally.


Chandler, AZ -- (SBWIRE) -- 04/11/2014 -- Entrepreneurs play a vital part in boosting a nation’s economy and generating jobs. U.S. President Barack Obama emphasized commitment in promoting the success of entrepreneurs all over the U.S., including through the White House Startup America initiative. The scheme is an “all-hands-on-deck” effort to increase access to capital, advance innovation, and promote private sector labors to reinforce the country’s startup communities. Obama, during the State of the Union on January 28, 2014 declared, “let’s do more to help the entrepreneurs and small business owners who create most new jobs in America.”

A White House press release on April 7, 2004 mentioned a series of new steps that the Obama administration announced to stimulate the success of entrepreneurs in the U.S. and worldwide. The steps are as follows:

Presidential Ambassadors for Global Entrepreneurship (PAGE)

PAGE is a group of successful American businesspeople who have devoted to share their time, energy, ideas, and experience to help advance the next generation of entrepreneurs at home and overseas. The group is chaired by Secretary of Commerce Penny Pritzker, and partnered by the U.S. Department of State and the U.S. Agency of for International Development (USAID).

Attracting the World’s Best and Brightest

The Department of Homeland Security (DHS) will be publishing various regulations aimed to make the United States more appealing to talented foreign entrepreneurs and other high-skill immigrants. These policies comprise a set of laws authorizing employment for spouses of certain high-skill workers on H-1B visas, likewise enhancing opportunities for outstanding professors and researchers. Entrepreneurship Pathways, an online resource center, was also launched to provide immigrant entrepreneurs an immediate way to search opportunities to start and grow a business in the U.S.

Accelerating Biomedical Entrepreneurs from Lab to Market

The National Institutes of Health (NIH) and the National Science Foundation (NSF) are launching a partnership to equip entrepreneurial scientists and to focus on the crucial gap between fundamental research and the growth of a commercial entity. Academic researchers and entrepreneurs who receive Small Business Innovation Research (SBIR) funding from NIH are eligible to conduct a new version of the NSF Innovation Corps (I-Corps) program which is especially tailored for biomedical technologies. NIH will also expand I-Corps by enhancing existing NIH-funded programs, like NIH Centers for Accelerated Innovation (NCAI) which concentrate on promising technologies developed by academic researchers. Educators and students who participate in these programs will obtain mentorship opportunities, entrepreneurial training, and reasonable funding to allow them to move their ideas from the lab to the market.

Energizing Entrepreneurs to Help End Extreme Poverty

U.S. Global Development Lab (The Lab) was launched by USAID to foster entrepreneurs and strengthen entrepreneurial communities. The Lab aspires to empower a global network of individuals to help create, solve and scale innovative solutions to global challenges by application of scientific, business, research and technological expertise. The program is establishing open-source development models like Development Innovation Ventures and Grand Challenges, which foster new problem solvers and players in looming markets and driving improvement. A new USAID Research and Innovation Fellowships Program will dispatch more than 60 young U.S. experts in science and technology to universities, NGOs, and companies in 12 developing countries this year.

Bolstering Exchanges and Training for Entrepreneurs in the Western Hemisphere

The State Department will be hosting TechCamps for women in El Salvador, Colombia, and Argentina this fall. The camps will gather hundreds of women across the region throughout the span of the year and give them training to focus on important challenges in business formation, from financing to marketing. In addition, the State Department will be launching two new exchange programs for entrepreneurs in the Western hemisphere. The Small Business Network of the Americas (SBNA) Fellowship Program will link incubators across the world to exchange best practices in business development and release market access for small businesses across the region. On the other hand, the Professional Fellows Program will gather officials from the U.S., Salvador, and Guatemala for a six-week internship and training program that focus on professional development, problem-solving and networking.

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