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Entrepreneurs start and grow companies despite of government. But Chris Schroeder’s new book Startup Rising: The Entrepreneurial Revolution Remaking the Middle East reveals a quiet, unnoticed revolution in the midst of front page uncertainty surrounding the region after the Arab Spring. The entrepreneurs leading the revolution illustrated in his book have not been waiting for government direction and resources. To the contrary, they have become the leaders.
Members of Congress are back in their home states and districts for the August recess. They are scheduled to return on Monday, September 9.
A few years back, a report from the Kauffman Foundation shook up the common perception that there were hordes of young tech geeks—all looking to build the next Google or Facebook—driving an entrepreneurial revolution. The Coming Entrepreneurship Boom showed that 55-64 year olds had the highest rate of entrepreneurial activity while 20-34 year olds had the lowest. Last week, a new survey from American Express OPEN shows that the Great Recession didn’t exactly make things any better for Generation Y.
Granted, Silicon Valley has the sheer volume, but when it comes to the density of high-tech startups you have to look to Boulder—and Fort Collins—and Denver—and Colorado Springs. A new report that contrasts the job creation dynamics in the innovative tech sector against the entire private sector ranks the top 10 metro areas for high-tech startup density and Colorado dominates the list.
Each day, Innovation Daily checks the pulse of global innovation--courtesy of Innovation America. Here, we take a look at a handful of relevant stories it compiled last week.
Today I am opening the APEC Start-Up Accelerator Leadership Summit here in Taipei. The summit is challenging 30 startups along with 200 top executives and officials from the APEC region to re-think past assumptions about how the public and private sectors can collaborate to build sustainable startup ecosystems in the region.
While elected officials have long extolled the virtues of the small business and its powers of job creation, more attention has been paid recently to the age of firms instead of the size. But what happens when you mix the two and look at the smallest new startups? That is where the real growth happens. Since the late 1970s, new companies with 1 – 4 employees accounted for 86% of new firms. During roughly that same time period, startups with 1-4 employees have created more than 1 million jobs per year while those with 5 – 9 employees have created 500,000 per year. The figures come from the latest Business Dynamics Statistics report from the Kauffman Foundation.
OECD data released in the July issue of Entrepreneurship at a Glance shows that startup rates remain largely below pre-crisis levels. This is particularly so in the Euro area.
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