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1. How Wealth Fuels Growth

Author:
Chris Edwards
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
The role of wealth in the economy is the focus of much policy debate. This study examines wealthy individuals as “angel” investors, who fund startup businesses. Angel investors provide a unique source of support for America’s entrepreneurs, particularly in leading‐​edge industries.
Topic:
Entrepreneurship, Economic Growth, Investment, Wealth, and Angel Investors
Political Geography:
North America and United States of America

2. Getting Schooled: The Role of Universities in Attracting Immigrant Entrepreneurs

Author:
Natee Amornsiripanitch, Paul A. Gompers, George Hu, and Kaushik Vasudevan
Publication Date:
12-2021
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
Immigrants play a vital role in innovation activities and entrepreneurship. Given the substantial contribution of immigrants in these areas, a set of natural questions arise: What are the pathways that high‐​skilled immigrants take to arrive in the United States, and how has the importance of these pathways changed over time? What are important institutions that serve as gatekeepers for high‐​skilled immigrants, and do they affect the types of immigrant founders that come to the United States? Do certain parts of the United States benefit disproportionately from high‐​skilled immigration, and if so, what are some factors that contribute to these benefits? The answers to these questions have important implications for designing immigration policy and regulation, which have become increasingly acrimonious topics in public discourse. They also have important implications for firms and universities that recruit talent from abroad and for the communities that hope to promote vibrant entrepreneurial ecosystems.
Topic:
Entrepreneurship, Immigrants, Innovation, Higher Education, and Startup
Political Geography:
North America and United States of America

3. Lessons Across Borders: Women’s Entrepreneurship in the U.S. and China

Author:
Yvonne Quek and Emma Crawford
Publication Date:
02-2021
Content Type:
Special Report
Institution:
Georgetown Institute for Women, Peace and Security (GIWPS)
Abstract:
In both the United States and China, thousands of women are becoming entrepreneurs. Over the past 20 years, the number of women-owned businesses in the United States has grown 114 percent. Similarly, the All-China Women’s Federation reports that women accounted for one-quarter of total China-based entrepreneurs as of 2017. The upward trends in both countries underscore the growing economic opportunities for women in the entrepreneurial ecosystem, especially in the rapidly growing technology industry. However, despite the availability of national data highlighting these trends, we know little about the patterns of opportunities and challenges faced by women entrepreneurs, specifically those in tech. This report, produced in collaboration with The Mulan Foundation, seeks to address this gap by examining the key challenges faced by female founders in tech in the United States and China. Part I investigates these trends by synthesizing and sharing insights from 330 survey respondents across both countries, comparing the opportunities and challenges faced by women tech entrepreneurs in each economy. Part II then dives deep into the U.S. perspective, analyzing the survey responses from American women entrepreneurs in the tech sector and drawing from in-depth profiles of 17 individual founders. Their diverse experiences offer lessons for other women entrepreneurs. Our findings in both countries suggest that limited access to capital and networks are key challenges faced by female entrepreneurs in tech. In addition, gender bias and stereotypes inhibit growth opportunities for women-founded businesses. This report provides recommendations for how to support women entrepreneurs in technology, and it highlights opportunities for women founders and aspiring entrepreneurs.
Topic:
Women, Entrepreneurship, Business, and Borders
Political Geography:
China, Asia, North America, and United States of America

4. On the Origins of Entrepreneurial Alertness: Did Bauer and Yamey Precede Kirzner?

Author:
J. Robert Subrick
Publication Date:
10-2020
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
After the Second World War, the entrepreneur virtually disappeared from economic analysis (Baumol 1968). This neglect followed from the emerging models of general equilibrium that formed one aspect of the core of economic theory. By assumption, the Walrasian auctioneer knew the appropriate prices necessary to equate quantity supplied with quantity demanded in each market. In addition, the auctioneer knew when and by how much to adjust prices when an exogenous factor changed such as income or production technology. Trade only occurred at equilibrium prices so that markets cleared. No market participant chose or changed prices; it occurred exogenously. Kenneth Arrow recognized the lack of real world mechanisms to determine and adjust prices in competitive markets. He identified a logical gap in the perfectly competitive model. He wrote that “there is no place for a rational decision with respect to prices as there is with respect to quantities” (Arrow 1959: 42). Prices exist independent of consumer and firm behavior. A complete model would have to provide a solution to the conundrum.
Topic:
Markets, History, Entrepreneurship, and Economy
Political Geography:
North America and United States of America

5. A candle in the dark: US national security strategy for artificial intelligence

Author:
Tate Nurkin and Stephen Rodriguez
Publication Date:
12-2019
Content Type:
Working Paper
Institution:
Atlantic Council
Abstract:
AI is expected to have a transformational impact on the future of geopolitics, defense, and security. The emerging geopolitical and security context influencing the future of AI technology development has been driven by the erosion of traditional geopolitical frameworks, increased conflict between liberalism and authoritarianism, the pervasiveness of social media use and 4IR-driven digitization of industries, as well as the ability of more actors to affect strategic and operational environments. However, the future of AI will depend on the decisions of great power competitors—the US, China and Russia—global trends development, and the management of uncertainties associated with emerging technologies. In this fluctuating environment, where the US is engaged in a high-stakes competition with is near-peer adversaries, and AI is enabling paradigm-shifting changes in public and private sector operations, how should the US respond? In this new Atlantic Council Strategy Paper, A Candle in the Dark: US National Security Strategy for Artificial Intelligence, Tate Nurkin and Stephen Rodriguez provide an integrated strategy to respond to this key issue. According to Former US Secretary of Defense Dr. Ashton B. Carter, author of the foreword, this paper “effectively articulates the current technological landscape and offers a coherent strategic framework for the United States and its allies to harness AI’s upside potential, while mitigating downside risks and defending against emerging threats.” In a world full of uncertainties, this paper provides a holistic way forward for the US to leverage the full potential of AI while maintaining America’s technological competitiveness.
Topic:
Defense Policy, NATO, Intelligence, National Security, Science and Technology, Cybersecurity, Entrepreneurship, Drones, Conflict, and Disinformation
Political Geography:
Russia, China, Eurasia, Asia, North America, and United States of America

6. Abenomics and Japan's Entrepreneurship and Innovation: Is the Third Arrow Pointed in the Right Direction for Global Competition in the Digital Era of Silicon Valley?

Author:
Kenji E. Kushida
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
Given that much of the global leadership in value creation over the past couple of decades has been driven by the Silicon Valley model – not only a geographic region but a distinct ecosystem of complementary characteristics – the basic question this paper asks is how far Japan’s Abenomics reforms are pushing Japan towards being able to compete in an era dominated by Silicon Valley firms. To answer this, the first section of this paper looks at content of the third arrow of Abenomics. The second section then distills the Silicon Valley ecosystem into its key characteristics, sorts each of these characteristics according to the underlying institutions to put forth a model, and briefly evaluates whether third arrow reforms move Japan closer to a Silicon Valley model of entrepreneurship and innovation.
Topic:
Digital Economy, Entrepreneurship, Innovation, Digitization, and Sillicon Valley
Political Geography:
North America and United States of America

7. Business as Unusual: Shared Strategies for Accelerating Change

Author:
Zach Leverenz
Publication Date:
02-2016
Content Type:
Video
Institution:
Clarke Forum for Contemporary Issues
Abstract:
Zach Leverenz applies a practitioner’s lens to examine how social entrepreneurs can design shared-value strategies and build cross-sector partnerships that accelerate social impact with immediate scale and sustained success.
Topic:
Development, Science and Technology, Entrepreneurship, Business, and Economic growth
Political Geography:
North America and United States of America

8. IN3 - Incubating a New Spain through the Promotion of Entrepreneurship

Author:
James Costos
Publication Date:
09-2015
Content Type:
Journal Article
Journal:
The Ambassadors Review
Institution:
Council of American Ambassadors
Abstract:
Helping entrepreneurs grow their businesses and achieve their full potential is in the interest of anyone who wants to foster prosperity worldwide—that’s why it’s an Obama administration priority. Growth anywhere does some good everywhere, and the fact is that entrepreneurs create jobs and drive economic growth both at home and abroad. In the United States, 40 percent of our $17 trillion economy is generated by companies that did not even exist 20 years ago. Two-thirds of our 65 months of consecutive job growth is driven by small businesses. The owners of those businesses—28 million and growing—employ over half of America’s workforce. As our missions work to expand the global economic recovery, one of the most effective tools we have at our disposal is the promotion of entrepreneurship—a quintessential American value. By deepening the connections between the entrepreneurial ecosystems of the United States and our partners overseas, we can grow our economies, create jobs, and support businesses that will have lasting impact and create prosperity. The good news is that this is easy to do, because the world is more interconnected than ever before. We benefit from unprecedented opportunities to help entrepreneurs access the capital, resources, and networks they need to succeed. We also have the strong support and leader­ship of President Obama, who is personally committed to promoting entrepreneurship worldwide. Spain is a country with a strong and growing entrepreneurial spirit, a plethora of talent, and solid business networks. Although it is starting to emerge from economic crisis, there is still much work to be done to ensure Spain’s continued recovery. The United States Mission is doing its part to consolidate the country’s economic progress by helping a new generation of entrepreneurs achieve their full potential, and generate jobs and eco­nomic growth. We have established a strong partnership with TeamLabs, an organization that teaches the concept of entrepreneurship and engages with thousands of high school students across all regions of Spain. We have produced animated videos for youth called You®Company which tell real life stories of Spanish and US entrepreneurs while exploring the values of motivation, innovation, corporate social responsibility, failure, and critical thinking. We have also organized an Alumni Mentoring Program that we use to link up business leaders, prominent entrepreneurs, and alumni of United States Embassy exchange programs to coach aspiring entrepreneurs and help them build their network of contacts. This past June, we took our entrepreneurship programs to a new level with the launch of IN3 (IN-cubed)—Innovators, Investors, and Institutions—in partnership with Google and Chamberi Valley, a Spanish entrepreneurship association. Aimed at promoting entre­preneur­ship and investment in Spain, IN3 was the first community event hosted at Campus Madrid, one of only a handful of Google spaces around the world where entrepre­neurs can learn, connect, and build companies that will change the world. In August 2015, the International Monetary Fund released a report stating that Spain has more obstacles to entrepreneurship than any other European country. IN3 directly addressed these challenges by bringing together Spanish and American innovators, investors, and institutions to discuss common challenges and solutions for scaling-up interna­tional companies. The event provided Spanish entrepreneurs the opportunity to hear from leading US counterparts and tech investors on how to overcome institutional and investment challenges that inhibit business growth. It also offered US entrepreneurs the chance to explore areas of potential collaboration with their Spanish counterparts and learn from their experiences expanding into other European and Latin American markets. It provided a forum where entrepreneurs and policymakers exchanged ideas on the best ways to promote the creation of new businesses and help successful companies grow. Finally, it allowed US and Spanish innovators the opportunity to discuss their experiences with senior Spanish government officials. Through these interactions, IN3 helped to equip entrepre­neurs with the tools they need to overcome the challenges of expanding their businesses—from finance, to mentorship, to regulations. I was honored to be joined at IN3 by the Administrator of the United States Small Business Administration Maria Contreras-Sweet, Google Executive Chairman Eric Schmidt, His Majesty King Felipe VI of Spain, and leaders from the Spanish government. With their support, we elevated the importance of entrepreneurship and the crucial role entrepreneurs play in driving growth and creating jobs in Spain. Our message reached an audience of 53 million people in Spain through local media exposure, another 3.25 million on Twitter, and became a top-trending topic on US social media. Not only did the conference promote entrepreneurship and bilateral investment opportunities to a diverse audience, but IN3 generated real investment and new business growth for Spanish and US firms. For example, Opinno, the consulting and events firm that produced IN3, established new ties with US design thinking firms and academic institutions and plans to partner with these organizations to propel their international expansion. Several new investments were made in small and medium-sized Spanish companies, totaling hundreds of thousands of dollars, and the Embassy continues to hear of additional business sparked by the conference.
Topic:
Economics, Entrepreneurship, Recovery, and IMF
Political Geography:
United States, Europe, Spain, and North America