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FOR IMMEDIATE RELEASE

CONTACT OFFICE OF PUBLIC AFFAIRS

Thursday, September 24, 2009

202-482-4883

Commerce Secretary Locke Announces New Commerce Initiatives to Foster Innovation and Entrepreneurship

WASHINGTON—U.S. Commerce Secretary Gary Locke announced today his plans to create a new Office of Innovation and Entrepreneurship within the Department of Commerce and launch a National Advisory Council on Innovation and Entrepreneurship. Both substantial new initiatives will help leverage the entire federal government on behalf of promoting entrepreneurship in America. The new office is expected to announce additional initiatives in the coming months.

The new Office of Innovation and Entrepreneurship, which will answer directly to the secretary, will be geared toward the first step in the business cycle: moving an idea from someone’s imagination, or from a research lab, into a business plan.

“We’re not lacking for groundbreaking ideas in this country; nor are we short on smart entrepreneurs willing to take risks,” Locke said at the Inc. 500/5000 Conference today. “What we need to do is get better at connecting the great ideas to the great company builders. And I think The Office of Innovation and Entrepreneurship is a big step in the right direction.”

The National Advisory Council on Innovation and Entrepreneurship will advise the Commerce Department on policy relating to building small businesses and help to keep the department engaged in a regular dialogue with the entrepreneurship and small business communities. The council is expected to be comprised of successful entrepreneurs, innovators, investors, non-profit leaders and other experts.

The Obama Administration is committed to helping America’s entrepreneurs succeed, evidenced by its efforts to free up credit markets, unprecedented investments in America’s physical and intellectual infrastructure, and variety of tax credits and other incentives to help foster promising industries like renewable energy and smart grid technologies.

Working toward the Obama Administration’s vision, the Department of Commerce will lead the effort to encourage high-growth entrepreneurship through these new initiatives, among others.

Office of Innovation and Entrepreneurship
The mission of the Office of Innovation and Entrepreneurship is to unleash and maximize the economic potential of new ideas by removing barriers to entrepreneurship and the development of high-growth and innovation-based businesses. The office will report directly to Locke and focus specifically on identifying issues and programs most important to entrepreneurs. Working closely with the White House and other federal agencies, this new office will drive policies that help entrepreneurs translate new ideas, products and services into economic growth. The office will focus on the following areas:

  • Encouraging Entrepreneurs through Education, Training, and Mentoring
  • Improving Access to Capital
  • Accelerating Technology Commercialization of Federal R&D
  • Strengthening Interagency Collaboration and Coordination
  • Providing Data, Research, and Technical Resources for Entrepreneurs
  • Exploring Policy Incentives to Support Entrepreneurs and Investors

National Advisory Council on Innovation and Entrepreneurship
The National Advisory Council on Innovation and Entrepreneurship will advise Locke and the administration on key issues relating to innovation and entrepreneurship. The council will include successful entrepreneurs, innovators, angel investors, venture capitalists, non-profit leaders and other experts who will identify and recommend solutions to issues critical to the creation and development of entrepreneurship ecosystems that will generate new businesses and jobs. It will also serve as a vehicle for ongoing dialogue with the entrepreneurship community and other stakeholders.

http://www.commerce.gov/NewsRoom/PressReleases_FactSheets/PROD01_008444

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Locke to Lead U.S. Delegation to Chile for the Americas Competitiveness Forum

Washington (Sept. 25)—U.S. Commerce Secretary Gary Locke will travel to Santiago, Chile, September 27-29, to participate in the third Americas Competitiveness Forum (ACF). The ACF brings together representatives from the public and private sectors to discuss ways to spark innovation, create jobs and expand trade among the countries of the Western Hemisphere. The U.S. Department of Commerce hosted the first two ACFs in Atlanta in 2007 and 2008. Secretary Locke will be joined by the Presidents of Chile and Guatemala, as well as ministers of trade and economy from throughout the region and senior representatives from business and academia. (More) (ACF Web site)

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Grants

Department of Commerce (DOC)

Economic Development Administration (EDA)


International Trade Administration (ITA)

  • Special American Business Internship Training Program (SABIT). A technical assistance initiative of the International Trade Administration of the U.S. Department of Commerce, SABIT offers organizations competitive grants and an opportunity to host industry-specific delegations. SABIT serves as an initial entry point for U.S. businesses seeking funding to establish long-term relationships with potential customers, distributors, or partners in the former Soviet Union. The program trains Eurasian managers and scientists in commonly accepted business practices as a means of facilitating cross border relationships. In turn, these personal relationships serve as a basis for business development and reduce market access barriers for U.S. businesses

National Institute of Standards & Technology (NIST)

National Telecommunications & Information Administration (NTIA)

National Oceanic & Atmospheric Administration (NOAA)

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http://www.commerce.gov/Grants/index.htm

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http://www.mbda.gov/index.cfm?fuseaction=rls.search

Resource Locator – interactive

Resource and Capital Locator (Guests)

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http://www.mbda.gov/

Minority Business Development Agency, Department of Commerce

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For Atlanta -

Resource Name City State Zip Code Service Type
[Advanced Technology Development Center] Atlanta GA 30318 Multiple Services
[ATDC - Georgia Center for Advanced Telecommunications] Atlanta GA 30318 Multiple Services
[Atlanta Business League] Atlanta GA 30314 Multiple Services
[Atlanta Metropolitan Black Chamber of Commerce] Atlanta GA 30309 All Types of Services
[Atlanta Public Schools Office of Contract Compliance] Atlanta GA 30303 Multiple Services
[Atlanta Regional Electronic Commerce Research Ctr] Atlanta GA 30332 Multiple Services
[Atlanta U.S. Export Assistance Center] Atlanta GA 30303 Multiple Services
[Business Information Center (BIC)] Atlanta GA 30303 Multiple Services
[BusinessNow] Atlanta GA 30316 Multiple Services
[Center for International Business Education and Research] Atlanta GA 30332 Multiple Services
[Center of International Standards and Quality] Atlanta GA 30332 International Trade Services
[Cobb Chamber of Commerce] Atlanta GA 30009 Multiple Services
[Consumer Protection Division] Atlanta GA 30334 Administrative Management
[Contract Compliance Office] Atlanta GA 30307 Multiple Services
[Department of Revenue] Atlanta GA 30345 Administrative Management
[Economic Development Center] Atlanta GA 30314 All Types of Services
[Enterprise Funding Corporation] Atlanta GA 30303 All Types of Services
[First Stop Business Information Center] Atlanta GA 30334 Multiple Services
[French- American Chamber of Commerce] Atlanta GA 30338 Multiple Services
[Georgia Center for Nonprofits] Atlanta GA 30303 Multiple Services
[Georgia Child Care Council] Atlanta GA 30329 Administrative Management
[Georgia Department of Agriculture] Atlanta GA 30334 Administrative Management
[Georgia Department of Community Affairs] Atlanta GA 30329 All Types of Services
[Georgia Department of Industry Trade and Tourism] Atlanta GA 30303 International Trade Services
[Georgia Hispanic Chamber of Commerce] Atlanta GA 30329 Multiple Services
[Georgia Manufacturing Extension Partnership] Atlanta GA 30332 Multiple Services
[Georgia Micro Enterprise Network] Atlanta GA 30331 All Types of Services
[Georgia Minority Supplier Development Council] Atlanta GA 30303 Multiple Services
[Georgia Partnership for Excellence in Education] Atlanta GA 30303 Marketing Development
[Georgia Small Business Technical Assistance Program] Atlanta GA 30354 All Types of Services
[Georgia State University SBDC] Atlanta GA 30303 Multiple Services
[Georgia Statewide MBEC] Atlanta GA 30332 Multiple Services
[Georgia Tech Electronic Commerce Resource Center] Atlanta GA 30332 Technology/Electronic Commerce
[MBDA Atlanta Regional Office] Atlanta GA 30308 Multiple Services
[NAACP] Atlanta GA 30310 Multiple Services
[National 8(a) and Small Disadvantaged Business Association, Inc] Atlanta GA 30303 Administrative Management
[National Association of Minority Contractors] Atlanta GA 30303 All Types of Services
[Office of Regulatory Services] Atlanta GA 30303 Administrative Management
[Office of Small and Minority Business] Atlanta GA 30334 Marketing Development
[Quick Start] Atlanta GA 30345 Multiple Services
[Secretary of State, Corporations Division] Atlanta GA 30334 Administrative Management
[Service Corps of Retired Executives] Atlanta GA 30339 All Types of Services
[Service Corps of Retired Executives] Atlanta GA 30303 Multiple Services
[Southern Economic Development Council] Atlanta GA 30303 Multiple Services
[Southern United States Trade Association] Atlanta GA 30334 International Trade Services
[The Alliance for Work-Life Progress] Atlanta GA 30328 All Types of Services
[The Business Growth Corporation of Georgia] Atlanta GA 30339 Multiple Services
[The Business Growth Corporation of Georgia] Atlanta GA 30319 Financial Packaging
[The Georgia Women's Business Council (GWBC)] Atlanta GA 30303 Multiple Services
[The Governor's Small Business Center] Atlanta GA 30334 All Types of Services
[The Resource Institute] Atlanta GA 30329 All Types of Services
[Trademarks Section, Secretary of State] Atlanta GA 30334 Administrative Management
[Women's Economic Development Agency] Atlanta GA 30308 Multiple Services
[World Trade Center Atlanta] Atlanta GA 30308 International Trade Services

[from Resource Locator - Atlanta, GA - 2009 ]

http://www.mbda.gov/index.cfm?fuseaction=rls.results&set_v=UmVxdWVzdFRpbWVvdXQ9NTAwJmNpdHk9MTExOCZzdGF0ZT1HQSZzZXJ2aWNlX2NhdF9jb2RlPUFMTCZuZXh0PU5leHQgPiZmcm9tX21vbnRoPTAmZnJvbV95ZWFyPTAmdG9fbW9udGg9MCZ0b195ZWFyPTAmcmVnaW9uY29kZT0wJnZpZXdfbW9kZT0w

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The DoD SBIR & STTR Programs

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The Department of Defense (DoD) SBIR and STTR programs fund a billion dollars each year in early-stage R&D projects at small technology companies — projects that serve a DoD need and have commercial applications.

  • The SBIR Program provides up to $850,000 in early-stage R&D funding directly to small technology companies (or individual entrepreneurs who form a company).
  • The STTR Program provides up to $850,000 in early-stage R&D funding directly to small companies working cooperatively with researchers at universities and other research institutions.
  • Small companies retain the intellectual property rights to technologies they develop under these programs.
  • Funding is awarded competitively, but the process is streamlined and user-friendly.
  • Learn more by going to Overview and other sections. Also visit our Resource Center at www.dodsbir.net.


Questions?

Contact the SBIR/STTR Help Desk by telephone 866-SBIRHLP (866-72…) or Email.

Comments/Suggestions:

If you have suggest for improving these programs? Email us.

Join our Listserv:

If you wish to be notified via email of future DoD SBIR/STTR solicitations and events, subscribe to our listserv.

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http://www.acq.osd.mil/osbp/sbir/

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New Kauffman Foundation Study Offers Insights Into the Earliest Years of a New Business

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Contacts:
Barbara Pruitt, 816-932-1288, bpruitt@kauffman.org, Kauffman Foundation
Tom Phillips, 212-935-4655, comptwp@aol.com, Communication Partners

Kauffman Firm Survey findings provide insights for policymakers interested in encouraging new business development and growth

(KANSAS CITY, Mo.) March 12, 2008 — Understanding the characteristics of new business formation and sustainability can help lead to policies that encourage entrepreneurial businesses, which are a major driver of economic growth.

A new report released today by the Ewing Marion Kauffman Foundation fills a gap in the study of entrepreneurship. As the largest longitudinal study of new businesses ever conducted, the Kauffman Firm Survey (KFS) follows nearly 5,000 businesses founded in 2004 and tracks them over their early years of operation.

“New businesses play an important but not-well-understood role in our dynamic economy,” said Robert Litan, vice president of Research and Policy at the Kauffman Foundation. “These insights into the earliest years of a firm’s existence are essential for creating public and private programs that encourage new business development, innovation and sustainability.”

According to Kauffman researchers, the data provide a unique opportunity to study a panel of new businesses from start-up to sustainability or closure. Data are being collected annually from the same firms, centering on the topics of debt and equity financing, employee benefits, business innovations and outcomes such as sales and profits. In addition, detailed data are collected on the characteristics of business owners.

Following are some of the highlights:

  • A little more than 2 percent of businesses reported owning patents during their first year of operation, while nearly 9 percent reported having copyrights. The percent of businesses with patents and copyrights was much higher for businesses that were considered to be high tech, at 4 percent and 11 percent, respectively. About the same percentage of businesses had trademarks (13.5 percent), regardless of their tech status.
  • Nearly 60 percent of the businesses had no employees in their first year. Just under three-quarters of businesses had one employee or less, while about one-quarter of businesses had two or more employees. Very few businesses (less than 4 percent) had more than 10 employees.
  • More than a third of businesses (37 percent) had no revenue in their first year of operation. About 45 percent of businesses in the KFS experienced a profit during their first year, compared with about 55 percent of businesses that experienced a loss in their first year. About 17 percent of businesses had profits in excess of $100,000.
  • Nearly 44 percent of new businesses had no debt financing during their first year of operation. Many businesses were started with very little debt financing: 17 percent of businesses started with $5,000 or less; nearly 11 percent started with $100,000 or more.
  • About 80 percent of businesses had some positive equity investment in their business in the first year. Nearly 10 percent invested $100,000 of equity into their business, while another 33 percent invested between $10,001 and $100,000. About one-quarter of businesses invested some amount less than $5,000.
  • The vast majority of equity invested came from the business owners themselves. Just 10 percent of the businesses in the KFS used external equity sources in their first year. Parents were the most common source of external equity (3.4 percent), while spouses provided equity to 1.6 percent of businesses. Non-family informal investors and venture capitalists were used very infrequently (2.7 percent and 0.6 percent, respectively).
  • Nearly 70 percent of businesses in the KFS data were owned by men and just over 30 percent were owned by women. Whites owned more than 81 percent of the businesses, while blacks owned 9 percent, Asians owned 4 percent, and the remaining 5 percent were owned by Native Americans, Pacific Islanders and individuals of other racial groups. About 6.6 percent of the businesses were owned by Hispanics.
  • Just under 9 percent of firms closed in calendar year 2005, and the survival rates vary by owner demographics. For example, 88 percent of black-owned businesses survived, compared with 92 percent of white-owned businesses and 91 percent of Asian-owned businesses. Women-owned businesses had a survival rate of 89 percent, about three percentage points lower than businesses owned by men.

According to Alicia Robb, principal investigator on the KFS, as additional years are added to the study, the data will allow researchers to investigate ongoing financial infusions, changes in strategy and innovation, and survival and growth. “Many important topics can be investigated, including the determinants of business growth and survival, as well as the roles that financial and human capital play in business outcomes,” said Robb.

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