Entrepreneurship Education Is Paramount To Combat Youth Unemployment

Network For Teaching Entrepreneurship (NFTE) issues a call to action at the World Economic Forum for both public and private sectors to develop an entrepreneurial mindset in all youth

By Network for Teaching Entrepreneurship

Network for Teaching Entrepreneurship

Last modified: 2013-01-24T14:11:37Z

Published: Thursday, Jan. 24, 2013 - 6:10 am

Copyright 2013 . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

NEW YORK, Jan. 24, 2013 -- /PRNewswire/ -- In the wake of the global economic downtown trends have emerged that are threatening the future workforce. There are 75 million who are currently unemployed and more than 200 million youth who are earning less than $US2 per day. Yet 1/3 of businesses are still unable to fill vacancies due to skills gap. Therefore educational systems are not preparing young people properly to enter the labor market.

"Grow The Global Economy: Entrepreneurship Education For All Youth" released today at the World Economic Forum (WEF) by Network For Teaching Entrepreneurship (NFTE ) examines the youth unemployment crisis and the mismatch of skills being taught in schools and those needed for young people to thrive in the fast-paced, digitally-enabled global economy. The paper argues that the entrepreneurship education for all youth, a goal first set in 2009 by the Global Education Initiative of WEF, is even more imperative today with the general state of the economy and specifically the state of youth unemployment globally.

Entrepreneurship education is a global phenomenon and a proven solution to combat youth unemployment. It's a tool that can arm young people not only to start businesses and create jobs, but also to be opportunity-focused, flexible employees ready to fill existing jobs. It provides youth with the ability to think like entrepreneurs and to act like business owners, the ability to be problem solvers and the capacity to be adaptable, comfortable and self-directed in unclear situations. It's these types of real life skills and talents that employers have reported they are looking for when hiring.

"It's the goal of NFTE to empower all young people to develop the entrepreneurial mindset which enables the attitudes, habits and skills needed to face the new global economy, personally and professionally and to be economically competitive, locally and globally," said Amy Rosen, President and CEO of Network For Teaching Entrepreneurship. "What NFTE seeks to achieve is vital to the worldwide economic recovery and long-term prosperity. The more we can provide entrepreneurship education around, the sooner our current young people will become our job creators in a sustainable global economy."

NFTE has identified four steps necessary to move this global initiative to a greater level of effectiveness:

1) Train at least 50,000 educators to deliver entrepreneurship education and be influencers within the systems and institutions in which they operate.

2) Build and deploy digital platforms that better link education to the world of business and work.

3) Mobilize entrepreneurs and business professionals to be role models and active participants in entrepreneurship education programs.

4) Integrate entrepreneurship education into schools' core curriculum, across age cohorts and socio-economic status.

"Now is the time to match the needs of youth today with educational opportunities that will prepare them for tomorrow's economy," said Maria Pinelli, Ernst & Young's Global Vice Chair Strategic Growth Markets and Board Chair of Network For Teaching Entrepreneurship. "It is my belief that NFTE will continue to change the lives of young adults through youth entrepreneurship education, not only in the US but in as many countries as possible. Students who can develop the entrepreneurial mindset early on are going to have a distinct advantage whether economic conditions are weak or strong."

NFTE, celebrating its 25 year anniversary, is the largest global nonprofit of its kind, using entrepreneurship to show how traditional school subjects like reading, writing and math connect to the real world leading students to a more productive and prosperous life. With proven success, NFTE has already brought this message and program to nearly 500,000 young people around the world and has trained 5,000 teachers.

About the Network for Teaching Entrepreneurship

Too many young people today drop out of school and struggle to break the cycle of poverty. Since 1987, the Network for Teaching Entrepreneurship (NFTE) has been inspiring young people to pursue educational opportunities, start their own businesses, and succeed in life. By providing entrepreneurship education programs relevant to the real world, NFTE empowers students to own their educations in and out of the classroom and to find their own path to success. Hundreds of thousands of students have discovered opportunity all around them through entrepreneurship via thousands of certified educators worldwide. NFTE supports active programs in 18 U.S. states and 11 countries around the world. Entrepreneurs are a powerful driver of economic growth and NFTE sows the seeds of innovation in students worldwide. For more information, visit www.nfte.com.

CONTACT: Alyssa Miller 1-973-6151292 alyssa.miller@nfte.com

SOURCE Network for Teaching Entrepreneurship

Read more here: http://www.sacbee.com/2013/01/24/5137900/entrepreneurship-education-is.html#storylink=cpy

NYC Generation Tech: A Breakthrough in Youth Entrepreneurship and Technology Education

Posted: 01/23/2013 4:02 pm

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Young Entrepreneurs , Biztech , Entrepreneurship Education , Gentech , Nfte , Nyc Generation Tech , dev@HuffPost , Education News

The tech industry is booming. Its innovations and breakthroughs, both small and large, permeate most every aspect of our lives. To give us a sense of this, consider that every 60 seconds the following occurs¹:

• $219 million of transactions are made through PayPal
• 695,000 searches are performed through Google
• 370,000 minutes of voice calls are made through Skype
• 20,000 new posts are made on Tumblr
• 13,000 hours of music are streamed through Pandora
• 70 domain names are registered

For parents and educators, the rapidly developing world of technology is enough to make one's head spin. It's difficult enough to stay current with the latest and greatest gadgets; it's much more difficult to teach young people skills and capacities that will enable them to take advantage of new trends in technology. However, for the younger generation, learning how technology works and finding a business niche is the gold rush of their time.

Here at the Network for Teaching Entrepreneurship (NFTE), we have always tried to pioneer the integration of entrepreneurship and technology in under resourced schools. In 2000, Microsoft and NFTE co-developed Biztech, the first online learning platform for young people to learn about entrepreneurship. The platform's second iteration, Biztech 2.0, was named one of the top ten educational sites for kids in 2001. While Biztech was successful as an online learning platform, it was not until recently that NFTE was able to develop an intensive, in-person course for high school students to learn about the nexus of technology and entrepreneurship. This program is NYC Generation Tech.

NYC Generation Tech, or "GenTech," seeks to educate and inspire high school students from low-income communities to pursue careers in entrepreneurship and technology by providing hands-on learning experiences and mentorship opportunities. The program, piloted during the summer and fall of 2012, was created through a partnership between NFTE's New York Metro program office and the New York City Economic Development Corporation (NYCEDC) and received financial support from Microsoft, the Verizon Foundation, Durst Family Foundation, and the Tides Foundation.

GenTech kicked off in early August with a two week intensive "tech-entrepreneurship bootcamp" held at Long Island University's Brooklyn Campus. Each day from 9:00-5:00, the program's 28 students were immersed in an experiential curriculum that featured hands-on learning activities, guest speakers from all corners of the tech sector, and field trips to places like General Assembly and MakerBot.

At the end of the bootcamp's first week, each student pitched an original idea for a mobile app that improved the quality of education or city life for NYC students. After hearing their peers' pitches, students organically formed into six teams and were charged with the tall task of creating a mobile app prototype using MIT's App Inventor platform, and a business plan and pitch deck to support their digital creations. These final deliverables, to be created during the second half of the bootcamp and over the course of nine follow-up sessions during the fall, would be used to compete in a pitch competition in mid-December.

I spent about 35 hours at the bootcamp -- including a full eight hours on my birthday -- to learn about NYC's tech startup scene. Observing the program, led by NFTE NY Metro's charismatic Program Director Jordan Runge, was well worth my time. Naturally gifted at inspiring others, Jordan created a palpable, contagious energy in the classroom. At GenTech's end of program event in December, he received a standing ovation for several minutes -- no one in the room was sitting. From a small town in Indiana, he excelled in school, graduating at the top of his class with a 4.0, and went to Notre Dame. After graduating cum laude with a double-major in Political Science and Peace Studies, he joined Teach for America and spent three years teaching at a middle school in the Bronx. Looking for a way to have scale the impact he was able to make in the classroom, Jordan joined NFTE three years ago and distinguished himself as a motivator of students and teachers alike, particularly as a 'teacher of teachers.'

During the bootcamp, Jordan team taught with Ron Summers, one of the elite young NFTE teachers that we have been so blessed with this past decade. Ron's command of technology, educational strategy and his rapport with kids was deep. He had taught both of my nieces -- Nina and Siena -- in entrepreneurial summer camps, and they had said he was one of the best teachers they had ever had.

My favorite experience was learning about customer lifetime value versus customer acquisition costs which was presented clearly and helped me think of more advanced ways to teach the economics of one unit and other topics that I think are important for young people to learn.

I spoke to one of the students, Harry Trustman of Bookmark'd. "Did this help you, Harry?" I asked. "I learned so much, Mr. Mariotti, that I cannot even begin to explain it!" I talked to Harry's mom later in the day, and she said that the program had changed her son's life by making him more outgoing and confident. That night, while at my birthday dinner, one of my friends who is an expert on technology paid me the highest compliment I've ever received from him: "Wow, Steve!" he exclaimed, "You have really learned a lot about the latest thinking in technology!"

As summer turned to fall, each of GenTech's six student teams was matched with two "Tech Mentors," volunteers from the city's tech sector. During the fall's nine follow-up sessions, each held at a different tech office space throughout the city, students gained real world insights from presentations created by the host company. Students then worked with their mentors to develop their app prototype and supporting materials.

GenTech's pilot phase culminated on December 18th with "GenTech Demo Night," held at NASDAQ's MarketSite overlooking Times Square. I sat in next to our CEO, Amy Rosen, as each of the program's six teams demoed their completed mobile app and pitched their business idea to full house and an esteemed panel of six judges that featured David Karp, CEO of Tumblr, and Brian Cohen, Chairman of New York Angels. The competition's stakes: a first place prize of $5,000 and lunch with Andy Weissman, Partner at Union Square Ventures.

While each of the student teams were impressive in their own right, the team behind SkooBrik, a mobile app that enables students to manage their grades, assignments, and notes from their phones, took home first place prize. Second place honors went to Orgster, an app that allows students to digitally complete, store, and share photographs of homework and class notes. Bookmark'd, an app that turns the traditional reading experience into an online, social experience, won third place. Next summer's program will go to an even higher level educationally. As Terry Bowman, Executive Director of NFTE's New York program office said, "We are looking forward to improving GenTech in year two. We plan to integrate even more technological and entrepreneurial concepts into the curriculum. Additionally, each student enrolled in GenTech 2.0 will learn how to code HTML, CSS, and Javascript."

When NFTE was founded in 1987, the idea of teaching young people the principles of entrepreneurship alongside other core subjects like Math and English was revolutionary. Twenty-five years later, I'm proud to say that, as a result of programs like GenTech, NFTE continues to be a thought leader in youth entrepreneurship education.

For more information about NYC Generation Tech, go to www.nycgenerationtech.com, and follow us on Facebook and Twitter @NYCGenTech.

¹ These statistics are over two years old -- imagine how much great these figures would be today!

Kauffman Emerging Scholars Awards Inspire Young Researchers to Study Entrepreneurship

Kansas City, Mo. (PRWEB) January 08, 2013

The Ewing Marion Kauffman Foundation announced today the recipients of the Kauffman Emerging Scholars Program. This program recognizes the achievements of young scholars who are making significant contributions to research in entrepreneurship. The awards were presented Saturday, Jan. 5, at the Allied Social Science Associations' annual meeting in San Diego, Calif.

"We are proud to honor these bright emerging scholars for their outstanding work in academic entrepreneurship study,” said Robert J. Strom, director of research and policy at the Foundation. "Not only is their work significant, but they represent some of the brightest future leaders in the field of entrepreneurship research who will influence our next generation of academics.”

The Kauffman Foundation funds a series of programs and initiatives designed to create a substantial body of research on entrepreneurship and innovation. The programs assist promising young scholars in their efforts to earn doctoral degrees, and encourage scholars to conduct research early in their careers and recognize ground-breaking research—all with a focus on entrepreneurship. The Foundation's Emerging Scholars Program supports and recognizes achievements at each career level of an academic professional. Following are the recipients of the Emerging Scholars Program awards:

Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship

As a tribute to Ewing Marion Kauffman and his entrepreneurial work, the Kauffman Foundation established the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship in 2005 to inspire young scholars to contribute new insight into the field of entrepreneurship. The Medal, which includes a $50,000 prize, is awarded annually to recognize scholars under the age of 40 whose research has made a significant contribution to entrepreneurship. More information on the Kauffman Prize Medal can be found at http://www.kauffman.org/kauffmanprize .

William Kerr, the 2013 Medal recipient, is an expert in agglomeration and entrepreneurship, immigration, and innovation. Kerr researches the role of immigrant scientists in technology commercialization, the interaction of government policy and firm entry and cluster formation, and entrepreneurial finance.

Kerr received his bachelor's degree in systems engineering from the University of Virginia in 1996. He earned his Ph.D. in economics from the Massachusetts Institute of Technology in 2005. He joined the Harvard Business School faculty in 2005.

Kauffman Dissertation Fellowship Program

The Kauffman Dissertation Fellowship Program annually recognizes 15 exceptional doctoral students and their universities. Fifteen fellowships in the amount of $20,000 each will be awarded to the students to support their dissertation research in the area of entrepreneurship. Including the current class of fellows, 153 awards have been made since the program was created in 2003. More information on the Kauffman Dissertation Fellowship Program can be found at http://www.kauffman.org/kdfp .

The 2013 fellowship recipients, along with their university affiliations and the titles of their dissertations, are:

James Bailey, Temple University, Health Insurance and the Supply of Entrepreneurs: New Evidence from the Affordable Care Act

Vanessa Beary, Harvard University, The Impact Of Entrepreneurship Education in Khujand, Tajikistan: A Longitudinal Study with Random Assignment

Sean Carr, University of Virginia, The Social Dynamics of Crowdfunding: Network Ties and Social Influence in the Financing of New Ventures

Bo Cowgill, University of California, Berkeley, Essays on Innovation and Economic Organization

G. Christopher Crawford, University of Louisville, Causes of Extreme Outcomes in Entrepreneurship: Endowments, Expectations, Engagement, and Environments

Daphne Demetry, Northwestern University, Episodic Organizations: Nascent Entrepreneurial Forms of Organizing

Laura Doering, University of Chicago, Entrepreneurial Novelty: Three Essays on Innovation and Financialization in Emerging Markets

Shweta Gaonkar, University of Maryland, College Park, The Strategic Network of Entrepreneurial Firms: Impact of Pre Founding Ties

Manuel Hermosilla, Northwestern University, Essays on the Management of Intellectual Property and Drug Innovation

Lara Loewenstein, Brandeis University, Home Equity and Small Business Finance

Jamie McCasland, University of California, Berkeley, Training Aspiring Entrepreneurs in Africa: Peer Effects in Apprenticeship Training in Ghana

Neil Mehrotra, Columbia University, Financial Frictions and Job Creation in the Great Recession

Russel Nelson, University of California, Irvine, Competitive Dynamics in New Markets: Measuring Innovation, Successful Strategies, and the Role of Social Media

Amy Nguyen-Chyung, University of California, Berkeley, How Entrepreneurial Do You Choose to Be? Talent, Risk Attitudes, Overconfidence and Self-selection into Different Levels of Entrepreneurship

Adam Osman, Yale University, Tackling Youth Unemployment: Theory and Evidence from Two Randomized Experiments

Kauffman Junior Faculty Fellowship in Entrepreneurship Research

The Kauffman Junior Faculty Fellowship in Entrepreneurship Research (KJFF) recognizes junior faculty who are beginning to establish a record of scholarship and exhibit the potential to make significant contributions to the body of research in the field of entrepreneurship. Seven fellowships are awarded annually to junior faculty members from universities across the United States. Each Fellow's university will receive a grant of $40,000 over two years to support the research activities of the Fellow. More information about the Kauffman Junior Faculty Fellowship in Entrepreneurship Research can be found at http://www.kauffman.org/kjff .

The 2012 fellowship recipients, along with their university affiliations, are:

Natarajan Balasubramanian, Ph.D., Syracuse University
Martin Ganco, Ph.D., University of Minnesota
Deepak Hegde, Ph.D., New York University
Chris Rider, Ph.D., Emory University
Michael Roach, Ph.D., Duke University
Raffaella Sadun, Ph.D., Harvard Business School
E. Glen Weyl, Ph.D., University of Chicago

About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. In addition, the Foundation focuses on initiatives in the Kansas City region to advance students' math and science skills, and improve the educational achievement of urban students, including the Ewing Marion Kauffman School, a college preparatory charter school for middle and high school students. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit http://www.kauffman.org , and follow the Foundation on http://www.twitter.com/kauffmanfdn and http://www.facebook.com/kauffmanfdn .

Avista to create "Business Entrepreneurship Network”

Entrepreneurship programs at regional community colleges will help create new businesses and jobs

Spokane, Wash. – May 24, 2012: Avista today announced the creation of the Avista Business Entrepreneurship Network, which, in partnership with Spokane Community College (SCC) and up to four other regional community colleges, will provide a continuum of education and ongoing support for budding entrepreneurs in Avista’s service territory. This network leverages the successful curriculum established by the Avista Center for Entrepreneurship at SCC in 2007. To date, three additional community colleges have agreed to participate in the network and create entrepreneurship programs modeled after SCC, including Rogue Community College (Medford, Ore.), North Idaho College (Coeur d’Alene, Idaho), and Walla Walla Community College-Clarkston (Wash.).

"One of the best strategies for pulling out of the longest, deepest recession of our time is to enable broad-based innovation and entrepreneurship. That’s why we’re partnering with SCC to extend their unique entrepreneurship program to other colleges throughout the region we serve,” said Roger Woodworth, vice president and chief strategy officer for Avista. "The partnership created by the Avista Business Entrepreneurship Network will engage more people, leverage more resources, and accelerate quicker outcomes for greater impact in business development and job creation. Much like our investments to assure reliable energy delivery for our customers, this network is an investment in our region’s future prosperity.”

The Avista Center for Entrepreneurship at each participating college will receive an investment of $100,000 over three years to support the initial implementation of the program. These funds come from profits that Avista is allowed to earn and are not included in customer rates. Each college foundation will pledge matching dollars to help ensure the long-term financial sustainability of their respective program. SCC faculty will facilitate the curriculum development process with involvement from members of the Business Entrepreneurship Network.

In addition, Avista will create a micro-enterprise loan fund for students who successfully complete the program and create new businesses. Each college will also participate in recruiting a cadre of mentors, advisors and professional services providers who will provide ongoing business support. The SCC program is graduating its fifth cohort this June. The first classes in each of the other Avista Centers for Entrepreneurship are expected to begin in the fall of 2013.

About Avista
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 360,000 customers and natural gas to 321,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Avista's primary, non-utility subsidiary is Ecova, an energy and sustainability management company with more than 500 multi-site commercial and utility customers, representing more than 450,000 sites. Our stock is traded under the ticker symbol "AVA." For more information about Avista, please visit www.avistacorp.com.

Avista Corp. and the Avista logo are trademarks of Avista Corporation.

The White House
Office of the Press Secretary
For Immediate Release
April 18, 2012

President Obama’s Visit to Lorain County Community College

Last week, the House of Representatives passed a Budget Resolution written by Congressman Paul Ryan, which would reduce spending on discretionary programs like WIA by over 5 percent in 2013, and 19 percent in 2014, while simultaneously showering families making more than $250,000 per year with over $1 trillion in tax cuts. The House Republican Budget would provide an average of at least $150,000 in tax cuts to those making over $1 million per year, while simultaneously making deep cuts to training programs like those at Lorain County.

•These proposed cuts would reduce funding for federal employment and training programs to help laid-off and out-of-work adults–eliminating services to 13,000 Ohioans in 2013, and 37,000 in 2014.

•In 2013 and 2014, across Ohio, an estimated 1,900 young people would also lose employment and training services, and job search assistance services would be eliminated for over 180,000 job-seekers.

•Nationwide, the House Republican Budget would eliminate services to 425,000 adult workers in 2013 and 1.1 million in 2014.

•Additionally, the House Republican Budget would cut services to almost 60,000 youth nationwide, and eliminate federal job search assistance for 4.9 million job-seekers in 2013 and 2014 combined.


The Workforce Investment Act (WIA) was first passed in 1998, and supports employment services and training programs serving millions of workers across the nation each year. Under WIA, three annual formula grant programs fund state and local efforts to serve workers who have been "dislocated” (or laid off) from their jobs, other adults looking for jobs, and youth. Between April 2010 and March 2011, almost 1.8 million workers received services through these three WIA programs. WIA also authorizes the Wagner-Peyser employment services program, which provides job search assistance—a cost-effective service that shortens unemployment duration—to millions of American workers each year.

President Obama’s Record of Giving American Workers the Skills they Need to Compete

President Obama believes that our nation should invest in ensuring Americans can get the skills they need for the high-demand jobs of today and tomorrow. This Administration has already made key
investments in building Americans’ skills:

•The Obama Administration has made historic investments in community colleges, which provide a linchpin for 21st century workforce training. In 2011, the Administration invested $500 million through the Trade Adjustment Assistance Community College and Career Training initiative to support partnerships in all 50 states connecting community colleges, employers, Workforce Investment Boards, and other stakeholders.

•Last year, the Obama Administration helped launch Skills for America’s Future, an industry-led initiative to improve industry partnerships with community colleges and build a nationwide network to maximize workforce development strategies, job training programs, and job placements. Through this initiative the President announced a new partnership of private sector employers, community colleges, and the National Association of Manufacturers to provide 500,000 community college students with industry-recognized credentials that will help them secure jobs in the manufacturing sector.

•Created the Workforce Innovation Fund, administered jointly by the Department of Labor and the Department of Education, which later this year will make $125 million in competitive grants to improve employment and training outcomes and the cost effectiveness of the public workforce system.


Building upon these investments, the President has proposed:

•A new Community College to Career Fund, which will help forge new partnerships between community colleges and businesses to train two million workers for good-paying jobs in high-growth and high-demand industries such as health care, transportation, and advanced manufacturing.

•A new Universal Displaced Worker program, which will provide up to a million displaced workers a year with high-quality job-search assistance, access to critical skills training for high-growth and in-demand industries and, for older workers, the option of wage insurance.

•Creation of an American Job Center network to unify all Federally-supported One-Stop Career Centers and electronic resources. The Administration has proposed a $50 million investment to improve and expand these workforce centers; in the meantime it will pursue administrative improvements to the system.

•A Pathways Back to Work Fund to help jumpstart America’s economy by putting thousands of long-term unemployed and low-income adults back to work immediately and helping them gain job skills.

You can also read the transcript of President Obama's speech

Finding investors is probably the biggest challenge that business startups and small companies face. But small businesses are looking forward to a new way of attracting investors now that President Barack Obama has signed a law known as the JOBS Act.

The law, Jumpstart Our Business Startups, eases the requirements that small companies must meet to raise money. One of the most intriguing parts of the law for many businesses is crowdfunding.

The new rules make it legal for companies to solicit money from millions of investors without having to go through the lengthy process of filing registration documents with the Securities and Exchange Commission. The law dramatically streamlines the paperwork that companies must complete. Obama signed the bill into law last week.

"It will make it easier for small businesses to attract investors, to gain access to capital, to become the next big thing," said Tom Quaadman, a vice president of the U.S. Chamber of Commerce.

Read more about crowdfunding and the jump-start for businesses

FOR IMMEDIATE RELEASE
April 5, 2012

President Obama To Sign Jumpstart Our Business Startups (JOBS) Act
Will Announce New Steps to Promote Access to Capital for Entrepreneurs and Protections for Investors

WASHINGTON, DC – Today President Obama will sign the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that enacts many of the President’s proposals to encourage startups and support our nation’s small businesses.

The President believes that our small businesses and startups are driving the recovery and job creation. That’s why he put forward a number of specific ways to encourage small business and startup investment in the American Jobs Act last fall, and worked with members on both sides of the aisle to sign these common-sense measures into law today. The JOBS Act will allow Main Street small businesses and high-growth enterprises to raise capital from investors more efficiently, allowing small and young firms across the country to grow and hire faster.

"America’s high-growth entrepreneurs and small businesses play a vital role in creating jobs and growing the economy,” said President Obama. "I’m pleased Congress took bipartisan action to pass this bill. These proposals will help entrepreneurs raise the capital they need to put Americans back to work and create an economy that’s built to last.”

Throughout this effort, the President has maintained a strong focus on ensuring that we expand access to capital for young firms in a way that is consistent with sound investor protections. To that end, the President today will call on the Treasury, Small Business Administration and Department of Justice to closely monitor this legislation and report regularly to him with its findings. In addition, major crowfunding organizations sent a letter to the President today committing to core investor protections, including a new code of conduct for crowdfunding platforms.

In March of last year, the President directed his Administration to host a conference titled "Access to Capital: Fostering Growth and Innovation for Small Companies.” The conferencebrought together policymakers and key stakeholders whose ideas directly led to many of the proposals contained in theJOBS Act. A primary takeaway from the conference was that capital from public and private investors helps entrepreneurs achieve their dreams and turn ideas into startups that create jobs and fuel sustainable economic growth.

Key Elements of the JOBS Act

The JOBS Act includes all three of the capital formation priorities that the President first raised in his September 2011 address to a Joint Session of Congress, and outlined in more detail in his Startup America Legislative Agenda to Congress in January 2012: allowing "crowdfunding,” expanding "mini-public offerings,” and creating an "IPO on-ramp” consistent with investor protections.

The JOBS Act is a product of bipartisan cooperation, with the President and Congress working together to promote American entrepreneurship and innovation while maintaining important protections for American investors. It will help growing businesses access financing while maintaining investor protections, in several ways:

• Allowing Small Businesses to Harness "Crowdfunding”: The Internet already has been a tool for fundraising from many thousands of donors. Subject to rulemaking by the U.S. Securities and Exchange Commission (SEC), startups and small businesses will be allowed to raise up to $1 million annually from many small-dollar investors through web-based platforms, democratizing access to capital. Because the Senate acted on a bipartisan amendment, the bill includes key investor protections the President called for, including a requirement that all crowdfunding must occur through platforms that are registered with a self-regulatory organization and regulated by the SEC. In addition, investors’ annual combined investments in crowdfunded securities will be limited based on an income and net worth test.
  
  
• Expanding "Mini Public Offerings”: Prior to this legislation, the existing "Regulation A” exemption from certain SEC requirements for small businesses seeking to raise less than $5 million in a public offering was seldom used. The JOBS Act will raise this threshold to $50 million, streamlining the process for smaller innovative companies to raise capital consistent with investor protections.
  
  
• Creating an "IPO On-Ramp”: The JOBS Actmakes it easier for young, high-growth firms to go public by providing an incubator period for a new class of "Emerging Growth Companies.” During this period, qualifying companies will have time to reach compliance with certain public company disclosure and auditing requirements after their initial public offering (IPO). Any firm that goes public already has up to two years after its IPO to comply with certain Sarbanes-Oxley auditing requirements. The JOBS Act extends that period to a maximum of five years, or less if during the on-ramp period a company achieves $1 billion in gross revenue, $700 million in public float, or issues more than $1 billion in non-convertible debt in the previous three years.

Additionally, the JOBS Act changes some existing limitations on how companies can solicit private investments from "accredited investors,” tasks the SEC with ensuring that companies take reasonable steps to verify that such investors are accredited, and gives companies more flexibility to plan their access to public markets and incentivize employees.

Additional Initiatives Announced Today to Promote Capital Access and Investor Protection

• Monitoring of JOBS Act Implementation: The President is directing the Treasury Department, Small Business Administration and Department of Justice to closely monitor the implementation of this legislation to ensure that it is achieving its goals of enhancing access capital while maintaining appropriate investor protections. These agencies, consulting closely with the SEC and key non-governmental stakeholders, will report their findings to the President on a biannual basis, and will include recommendations for additional necessary steps to ensure that the legislation achieves its goals.
  
  
• Crowdfunding Platforms Commit to Investor Protections: In a letter <http://www.whitehouse.gov/sites/default/files/crowdfunding_coalition_letter.pdf> to President Obama, a consortium of crowdfunding companies are committing to work with the SEC to develop appropriate regulation of the industry, as required by the JOBS Act. Members of this leadership group are committing to establish core investor protections, including an enforceable code of conduct for crowdfunding platforms, standardized methods to ensure that investors do not exceed statutory limits, thorough vetting of companies raising funds through crowdfunding, and an industry standard "Investors’ Bill of Rights.”

Today, President Obama signs the JOBS Act into law, legalizing crowdfunding in startups by non-accredited investors, so that anyone and their mother can invest. The new law stipulates that entrepreneurs can now raise money from any and all, however, startups are limited to $1 million per year, and must stick to portals approved by the Securities and Exchange Commission. What’s more, the legislation dispenses with the 500-shareholder rule, which put a limit on the number of shareholders a company was allowed before registering with the SEC (and going public).

The new law gives high-growth companies a longer grace period, or on-ramp, leading up to IPOs, and lifts some of the one-size-fits all regulation that likely has been hampering the IPO market. While this is a big win for startups, it puts significant pressure on the crowdfunding market to self-regulate — which is risky. That’s why 13 equity and debt crowdfunding platforms and insiders have come together to form a leadership group to bring attention to the need — really, requirement — for the industry to develop effective self-regulation, best practices, and investor protection.

As the JOBS Act requires all crowdfunding sites to be members of a national securities association, the group is on a mission to find the best way to do that in a way that encourages the new industry while protecting investors. The "leadership group” is to include members of the crowdfunding industry, (duh), who will be working in collaboration with legal, securities, and SEC experts — many of the same people who helped push the JOBS Act forward.

Read more about what the JOBS ACt can do for start-ups

Contact:
Rossana Weitekamp, 516-792-1462, rossana@weitekamp.com
Rose Levy, 646 660 8641, rose@goldinsolutions.com, Goldin Solutions
Barbara Pruitt, 816-932-1288, bpruitt@kauffman.org, Kauffman Foundation

The Kauffman Index shows that, despite a drop from 2010, U.S. startup activity remains above pre-Great Recession levels

(KANSAS CITY, Mo.), March 19, 2012 – Entrepreneurship is alive and well in the wake of the Great Recession, although the rate of new business creation dipped during 2011 and startup founders remained more likely to fly solo than employ others. That's the big take away from the "Kauffman Index of Entrepreneurial Activity," a leading indicator of new business creation in the United States published annually and released today by the Ewing Marion Kauffman Foundation.

The Index shows that 0.32 percent of American adults created a business per month in 2011 – a 5.9 percent drop from 2010, but still among the highest levels of entrepreneurship over the past 16 years. The quarterly employer firm rate also remained essentially flat from 2010 to 2011 at 0.11 percent.

"The Great Recession has pushed many individuals into business ownership due to high unemployment rates," said Robert Litan, vice president of research and policy at the Kauffman Foundation. "However, economic uncertainty likely has made them more cautious, and they prefer to start sole proprietorships rather than more costly employer firms. This 'jobless entrepreneurship' trend negatively effects job creation and the larger economic recovery."

Capturing new founders in their first month of significant business activity, the Kauffman Index of Entrepreneurial Activityprovides the earliest documentation of new business establishment across the country. The percentage of the adult, non-business-owner population that starts a business each month is measured using data from the monthly Current Population Survey (CPS), conducted by the U.S. Bureau of the Census and the Bureau of Labor Statistics. In addition to this overall rate of entrepreneurial activity, the Kauffman Index presents separate estimates for specific demographic groups, states and select metropolitan statistical areas (MSAs). It provides the only national measure of business creation by specific demographic groups. The 2011 data allow for an update to annual reports dating back to 1996. Interactive data spanning all 16 years is available at www.kauffman.org/kiea.

See the rest of the data from this study

Anecdotally, Inc.com has released its annual report on this fresh-faced group of business owners since 2009 and this was the first year that we had over 200 nominations. In the past, we were lucky to get a few dozen. This speaks volumes to the gains this group has made in just one year. However, in the scheme of things, although young entrepreneurs are increasing as a group, the numbers are still quite low, says Michael Simmons, co-founder and CEO at Extreme Entrepreneurship Education Corp.

The Global Entrepreneurship Monitor, which actually tracks early-stage entrepreneurial activity found that in 2010 about 5.5 percent of Americans ages 18 to 24 were actually helming an early-stage start-up (compared with 11 percent of 25 to 34 year olds, which is the most entrepreneurial cohort)—while Census data showed that in 2007, only 2.2 percent of business owners were under 25 years old. A survey by the Kauffman Foundation also found that the desire to start a business over other careers has risen for young adults ages 18 to 21 from 19 percent in 2007 to 25 percent in 2010.

One can ask when this surge in entrepreneurship at earlier stages in life and the growth in the entrepreneurial spirits amongst college students began, but it is hard to pinpoint the trigger as numerous factors have contributed to the shift. 

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The head of one of the Chicago area’s largest companies wants fellow CEOs to partner more with community colleges to address a growing gap between workforce skills and the labor needs of businesses.

At a meeting last week at Harper College (Illinois) with its trustees and foundation board members, Motorola Solutions Chairman and CEO Greg Brown said companies like his are finding it increasingly difficult to match job openings with workers possessing technical and communication skills. Closer corporate involvement with community college students can help, he added.

"We have to show students a path, connect the dots and show them how to get from here to there,” Brown said. "Students need to know that if they complete a degree or certificate, what’s on the other end. What does it look like? Harper and other community colleges will play a critical role in making that happen.”

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CLEVELAND, Feb. 7, 2012 /PRNewswire via COMTEX/ -- A $1 million challenge grant announced today will help JumpStart Inc. ( www.jumpstartinc.org ) bring a new model for engaging residents in fostering entrepreneurship to 20 additional cities.

The John S. and James L. Knight Foundation ( www.knightfoundation.org ) is supporting the JumpStart America Initiative ( www.jumpstartamerica.org ) as a way to involve new leaders in their community's economic future. Part of the Startup America Partnership ( www.startupamericapartnership.org ), the community-focused effort builds on regional public, private, philanthropic and institutional partnerships to spur the creation of new jobs by developing, identifying and supporting high-impact entrepreneurs.

A challenge grant, Knight's support kicks off an effort to raise an additional $14 million to implement the program over the next three years. Knight was an early supporter of the work, initially providing $500,000 in seed funding to help six regions in Minnesota, Indiana, Michigan and Ohio. The founding pilot project subsequently expanded to New York and Louisiana.

"JumpStart's approach is based on one simple truth: to succeed in creating an environment for innovation, we must deliberately focus on engaging the community in determining the best way forward," said Paula Ellis, Knight Foundation's vice president for strategic initiatives. "Its focus on empowering transformational change, while leveraging technological solutions like the online community IdeaCrossing ( www.ideacrossing.org ) demonstrates the type of innovative approaches we encourage."

Ingenuity, innovation and entrepreneurship are cornerstones of the American experience, attributes that the United States should support, encourage and bankroll as the country emerges from a long and hard economic morass.

That was one of the key messages delivered tonight by President Barack Obama during his state of the union address, a message highlighted by the appearance of luminaries such as Steve Jobs’ wife, Laurene Powell Jobs, and Instagram founder Mike Krieger.

In fact, Obama referenced the late Apple co-founder during one of the high-water marks of the speech, which was titled "An America Built to Last.”

Obama said:

You see, an economy built to last is one where we encourage the talent and ingenuity of every person in this country. That means women should earn equal pay for equal work. It means we should support everyone who’s willing to work; and every risk-taker and entrepreneur who aspires to become the next Steve Jobs.

The remarks about Jobs came on a day that Apple posted record financial results, selling a mind-numbing37 million iPhones and tallying $46 billion in revenue during the fourth quarter.

Interestingly, a few minutes prior to the reference to the legendary Apple co-founder, Obama discussed ways to bring manufacturing jobs back to the U.S.

"Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.”

It was an interesting juxtaposition given the in-depth report in The New York Times this past weekend on why Apple moved nearly all of its iPhone, iPad and Mac manufacturing to contractors in Asia. (According to the report, Jobs bluntly told Obama that "those jobs aren’t coming back.”)

After reading the report in The New York Times and listening to Obama, one has to wonder if the American innovation economy can really lead to large-scale job creation in manufacturing and the rebirth of the middle class. Obama says it can, citing the American automobile industry, pointing to the opportunities in clean technology and referencing how Master Lock’s unionized plant in Milwaukee is now running at full capacity.

At times during the speech tonight, Obama sounded more like a venture capitalist than the president of the United States.

Take for instance this part of Obama’s speech, remarks that I’ve heard echoed dozens of times by venture capitalists from Seattle to Silicon Valley.

Innovation also demands basic research. Today, the discoveries taking place in our federally-financed labs and universities could lead to new treatments that kill cancer cells but leave healthy ones untouched. New lightweight vests for cops and soldiers that can stop any bullet. Don’t gut these investments in our budget. Don’t let other countries win the race for the future. Support the same kind of research and innovation that led to the computer chip and the Internet; to new American jobs and new American industries.

It will be fascinating to watch how this argument unfolds, especially if Obama has to take on a private equity guy (not a venture capitalist) in Mitt Romney. Both Obama and Romney, if the former Massachusetts governor gets the nod by the Republicans, will likely battle over a similar message to the one laid out tonight.

After all, touting ingenuity, innovation and entrepreneurship is a message of hope.

But what is social entrepreneurship? This term has often been confused with social activism which refers to the espousal of political causes.

Almost every definition I have read, including the Wikipedia, states that "social entrepreneurship is the work of a social entrepreneur.”

Social entrepreneurs are individuals with innovative solutions to society’s most pressing social problems and who offer new ideas for wide-scale change.

Business entrepreneurs normally focus on changing the face of business by introducing new technologies, innovative solutions, or new products offering new benefits.

WASHINGTON, Jan. 23, 2012 /PRNewswire via COMTEX/ -- Experts Converge on Miami for 4-Day National Workforce Institute

As the topic of jobs continues to dominate both public and presidential debate, educators and workforce experts from throughout the nation gather in Miami this week to examine workplace trends, current and future labor demand, and cutting-edge practices for building a skilled and globally competitive workforce.

KANSAS CITY, Mo, Jan. 3, 2012—The Ewing Marion Kauffmann Foundation and Carl Schramm, President and CEO of the Foundation, today announced that, after achieving the milestone of a decade of dedicated service, Schramm has decided to step down from the Foundation in order to return to scholarship and business.

"We appreciate the valuable service of Carl Schramm and his many contributions to entrepreneurship and education," said Tom McDonnell, chairman, speaking on behalf of the Board of Trustees. "He has served the Kauffman Foundation longer than any former leader of the Foundation and longer than almost any non-founder executive. His service has expanded the influence of the Kauffman Foundation to have a truly global impact on the appreciation and development of entrepreneurship."

Schramm and the Trustees are committed to fulfilling the vision and maintaining the legacy of its founding donor, Ewing Marion Kauffman, by continuing to promote entrepreneurship and to improve education in our community and country. Under Schramm's leadership the Foundation has revamped Kauffman Scholars, created Global Entrepreneurship Week and became the authoritative source for research on entrepreneurship and its implications for growth and social welfare. Schramm has assured the Board of Trustees that he will continue to be available to support the continuing evolution of the Kauffman Foundation and its transition to new leadership that will address its ongoing changes and challenges.

Startup America launched
Launched with great fanfare in January, Startup America is a joint effort between President Barack Obama’s administration and the private sector to promote entrepreneurship in the United States.

The Startup America Partnership already has received hundreds of millions dollars' worth of commitments from private-sector companies for entrepreneurial education, training, and mentorship programs.

On the government side of this effort, the Small Business Administration recently proposed rules for a new venture capital program that will target early-stage companies. Roundtables held around the country as part of the Startup America initiative also generated ideas that got the attention of the president—including legislation to make it easier for new ventures to use crowdfunding to raise capital. That bill, which Obama endorsed, passed the House this year.

Perhaps most importantly, the Startup America initiative brought attention to the fact that not all small businesses are created equal—innovative firms with high-growth potential deserve special attention because they’re the ones that create the most new jobs.