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Blog Category: NACIE

Entrepreneurs: Driving the Innovation Economy in Pennsylvania

Entrepreneurs: Driving the Innovation Economy in Pennsylvania

This week marks Global Entrepreneurship Week (GEW), the world’s largest celebration of the innovators and job creators, who launch startups that bring ideas to life, drive economic growth and expand human welfare. It’s a great opportunity to really look at the ways in which entrepreneurs shape our current world while looking forward toward the next big thing. 

This year, I celebrated GEW by visiting flourishing centers of innovation in Pennsylvania. Along with Julie Kirk, Director of EDA’s Office of Innovation and Entrepreneurship, we met with local entrepreneurs at Philadelphia’s University City Science Center and in Doylestown at the Pennsylvania Biotechnology Center of Bucks County

It was only fitting that we kicked off GEW at the Science Center, the recipient of a $1 million EDA grant in October 2014 to help grow and launch new technology companies and an organization that has helped to create more than 15,000 jobs that contribute more than $9 billion to the Philadelphia region’s economy. 

We were joined by president & CEO of the University City Science Center Dr. Stephen Tang, who is also a newly announced member of the National Advisory Council on Innovation and Entrepreneurship (NACIE). It was refreshing to have the opportunity for an open dialogue with some of the region’s most dynamic entrepreneurs on how to the United States can foster innovation and entrepreneurship in every community. 

Later in the day, Julie and I traveled to Bucks County, where EDA recently invested $4.6 million to help the Pennsylvania Biotechnology Center expand its facility and offer assistance to entrepreneurs in the area. Julie and I had the opportunity to tour the Center’s facilities as well as engage in a roundtable discussion with a number of incubator tenants about their experiences getting their start-ups off the ground.

EDA is strongly committed to supporting innovation and entrepreneurship. In fact, over the past five years, EDA has invested more than $200 million in more than 170 incubators and entrepreneurship centers across the nation. 

This week in many communities across the nation and the world, roundtables like those I participated in are taking place to help foster greater innovation and entrepreneurship. Entrepreneurs play a tremendous role in our economy and many of their products and services have come to play an increasingly important role in our daily lives. Every day is an opportunity to celebrate their contributions, so while GEW may end on the 21st, let’s keep up the conversation going all year round.

Tapping Stakeholders to Help Accelerate Innovation and Entrepreneurship

When you want something done, give it to a busy person. In the case of the newly appointed members of the National Advisory Council on Innovation and Entrepreneurship (NACIE), the Department of Commerce has tapped a group of busy, innovative folks who are passionate about innovation, entrepreneurship, and workforce issues to advise the Secretary on compelling challenges and opportunities in these fields. 

With the “Open for Business” agenda, Secretary Pritzker made it clear that Commerce’s role is to be the voice of business to support the Obama Administration’s focus on economic growth and job creation. Additionally, this new vision recognizes the demands of a globally competitive economy. With the new members of NACIE hailing from companies small and large as well as nonprofits and academia, the new NACIE will be a conduit for that voice of business.  As it begins its work on December 5, 2014, the Council will be focused on the theme of “creating globally competitive regions.” 

NACIE was created in 2010 as part of the America COMPETES Act reauthorization to advise the Secretary of Commerce on innovation and entrepreneurship. The previous NACIE produced several impactful outcomes, including The Innovative and Entrepreneurial University: Higher Education, Innovation and Entrepreneurship in Focus report and the Improving Access to Capital for High-Growth Companies report, the latter of which served as the basis for the JOBS Act and began the process of expanding the capabilities and impact of crowd funding. 

With this iteration of NACIE, we’ve added a focus on the talent portion of the ecosystem. Having the right skilled workforce in the right place at the right time is a common challenge that is hampering many companies’ ability to grow and be competitive. Too many businesses can’t find skilled workers for jobs they want to fill, while too many people looking for a job may be ready to learn new skills but may not be certain that there’s a job waiting for them on the other end.

The specific challenge that will be issued to the NACIE members at their first organizational meeting on December 5 will be to look at what transformational investments and policies the federal government should facilitate that would help communities, businesses, and the workforce compete globally. There will be a focus on defining what “transformational” means and the Council will be urged to explore evidence-based outcomes that include metrics that can be used to monitor the impact of recommendations.

By bringing together this group of experienced, creative, and smart entrepreneurial thinkers, the Council is expected to develop innovative, actionable ideas to support the objectives of the Department of Commerce and Administration. And why not? Busy people clearly know how to get stuff done.

Secretary Pritzker Discusses Fostering a 21st Century Workforce with Walter Isaacson at the 2014 Aspen Ideas Festival

Today, at the 2014 Aspen Ideas Festival, U.S. Secretary of Commerce Penny Pritzker spoke about the Obama Administration and the Commerce Department’s efforts to strengthen the American workforce and prepare our workforce for 21st century jobs through skills development. She discussed these efforts with Walter Isaacson, President and CEO of the Aspen Institute, during an armchair discussion titled “21st Century Workforce.”

Since taking office a year ago, Secretary Pritzker has spoken to over a thousand business leaders and more than one-third of Fortune 500 CEOs, and one of the top concerns that they have shared is finding the right workers to fill available jobs. To ensure the economy’s long term competitiveness, the United States must maintain a strong workforce with the skills that businesses need. That is why the Department of Commerce is making workforce development a top priority for the first time ever.

In her discussion with Isaacson, Secretary Pritzker talked about some of the initiatives that the Commerce Department is leading to equip the American workforce with skills for jobs in thriving industries. For example, the Department recently launched a membership call for the National Advisory Council on Innovation and Entrepreneurship (NACIE), an advisory council that will assists the Department in finding new approaches to industry-led skills training. This spring, Secretary Pritzker also joined President Obama and Vice President Biden to announce a combined $600 million in Trade Adjustment Assistance Community College and Career Training (TAACCCT) and apprenticeship grants, which will enable a number of communities to train workers for challenging careers in growing American industries, such as advanced manufacturing, IT, and healthcare.

Secretary Pritzker Discusses the Importance of a Globally Competitive Workforce at the 2014 CGI America Annual Meeting

Secretary Pritzker Discusses the Importance of a Globally Competitive Workforce at the 2014 CGI America Annual Meeting

At the Clinton Global Initiative (CGI) America 2014 Annual Meeting today in Denver, U.S. Secretary of Commerce Penny Pritzker spoke about the Commerce Department’s efforts to catalyze job-driven training initiatives and the Obama Administration’s focus on fostering a 21stcentury workforce. Following remarks by former U.S. Secretary of State Hillary Clinton, Secretary Pritzker spoke on a panel moderated by Chelsea Clinton, Clinton Foundation Vice Chair, titled “Charting a New Course: Education and Employing America’s Future Leaders.”

Workforce training is a personal issue for Secretary Pritzker, and she has heard from many CEOs that finding the right workers to fill available jobs is one of their top concerns. That is why Secretary Pritzker has made workforce training a top priority for the Department of Commerce for the very first time.

As Secretary Pritzker noted during the panel, training initiatives must be industry-driven in order to succeed in creating the 21st century workforce that businesses need. The Commerce Department leads a number of initiatives that have already seen progress towards equipping the American workforce with the skills for available jobs. For example, the Department recently launched a membership call for the National Advisory Council on Innovation and Entrepreneurship (NACIE), an advisory council that will assists the Department in finding new approaches to industry-led skills training. Secretary Pritzker also recently joined President Obama and Vice President Biden to announce a combined $600 million in Trade Adjustment Assistance Community College and Career Training (TAACCCT) and apprenticeship grants, which will enable a number of communities to train workers for careers in cutting edge industries, such as advanced manufacturing, IT, and healthcare.

Innovation in the Marketplace: Dr. Desh Deshpande on Successful Proof of Concept Centers

Portrait of Desh Deshpande

Guest blog post by Nish Acharya, Director of the Office of Innovation and Entrepreneurship in the U.S. Department of Commerce’s Economic Development Administration.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) supports President Obama’s innovation strategy by helping to develop policies that foster entrepreneurship and identifying new ways to take great ideas from the lab to the marketplace to drive economic growth and create jobs.

One of the guiding forces of NACIE is its co-chair, Dr. Desh Deshpande, who is also Chairman and President of the Sparta Group and has been involved with many other companies, such as A123 Systems, Sycamore Networks, Tejas Networks, Sandstone Capital, and HiveFire. He is also the founder of the Deshpande Foundation, and creator and supporter of the Deshpande Center for Technological Innovation at the Massachusetts Institute of Technology (MIT), which is a leading proof of concept center.

In the last of a series of conference calls with members of NACIE, on June 27, participants spoke with Dr. Deshpande, with whom I have worked closely to identify and implement strategies to spur entrepreneurship and innovation.

During the call, Dr. Deshpande defined innovation as coming up with new ideas, while entrepreneurship is putting those ideas into practice. He pointed out that all innovation is contextual, in that no group of individuals can just sit down and solve all the world’s problems. It is important, he noted, that innovators live in the areas where the problems exist. His point echoed one that has been made by several other NACIE members, namely that innovators have a greater chance of success if they begin by solving the problems that exist in their own communities.

The Importance of Culture, Partnerships, and Perspective in Regional Economic Development

Economic Development Administration seal

Guest blog post by Paul J. Corson, Deputy Director of the U.S. Commerce Department Economic Development Administration’s Office of Innovation and Entrepreneurship

Recently, as part of our ongoing series of public conference calls with members of the National Council on Innovation and Entrepreneurship (NACIE), we spoke with Dr. Christina Gabriel, president of the University Energy Partnership, a nonprofit organization that was founded jointly in 2010 by five major research universities in the Pittsburgh area, and Dr. Mary Sue Coleman, president of the University of Michigan. Dr. Gabriel and Dr. Coleman, who both play leading roles in regional-based economic development in promoting the commercialization of research, stressed similar themes, including the importance of culture, partnerships, and perspective in regional economic development.

During her call on May 22, Dr. Gabriel emphasized the importance of leveraging local strengths. She noted that while foundations historically have embodied a regional perspective when it comes to economic development, many universities have only recently begun to do so. Universities possess very rich and diverse strengths that are best leveraged by applying them to difficult problems in collaborative efforts. For example, the University Energy Partnership was set up to leverage broad research efforts and applied technology developments in the energy space that has been developed over many years—not just in the Pittsburgh region, but throughout the four neighboring states.

In order to achieve success in regional cooperatives, Dr. Gabriel recommended that institutions focus on what their region is good at, and to build around that. She cautioned against blindly following the latest fad and hiring consultants to try and steal companies from other regions. By focusing on regional strengths, she said, even regions that have fewer resources—including those that have lost human and industry resources—can slow, and even reverse, these declines.

ASU’s Dr. Michael M. Crow on Innovation and Entrepreneurship

Economic Development Administration seal

Guest blog post by Nish Acharya, director of the U.S. Commerce Department Economic Development Administration’s Office of Innovation and Entrepreneurship

This week, close to 100 entrepreneurs, innovators, small business owners, and stakeholders joined me for an in-depth conference call facilitated by the Office of Innovation and Entrepreneurship with Dr. Michael M. Crow, president of Arizona State University (ASU) and a member of the President’s National Council on Innovation and Entrepreneurship (NACIE). This was the first in a series of forums to highlight the work of NACIE, spotlight some of our nation’s most dynamic leaders, and share best practices and insight with potential applicants for the upcoming third round of the multiagency i6 Challenge.

During the conversation, Dr. Crow emphasized that for an institution to successfully spur innovation and entrepreneurship, its leadership must first purposefully decide to make entrepreneurship part of their core competency. This will empower the institution to put its time, energy, and resources towards fostering innovation and entrepreneurship broadly.

NACIE Promotes Innovative Lab-to-Market Strategies to Spur Economic Growth

Erskine and Kappos at NACIE meeting

Guest blog post by Acting Assistant Secretary Matt Erskine, Economic Development Administration

Today I joined my colleagues, Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office David Kappos and Associate Director for Innovation and Industry Services at the National Institute of Standards and Technology Phillip Singerman, at a meeting of the National Advisory Council on Innovation and Entrepreneurship (NACIE) in New Orleans. The quarterly meeting of NACIE’s board coincided with local Entrepreneurship Week activities and brought together over 250 entrepreneurs, innovators and business leaders to discuss how we can best support them.

NACIE is a public-private partnership started by the Department of Commerce to provide guidance on how we can best support the growing businesses that will create the jobs and industries of the future. When I addressed the forum, I highlighted the Obama administration’s commitment to making investments in innovation and entrepreneurship including the recently announced $15 million Rural Jobs and Innovation Accelerator Challenge, which will boost rural innovation clusters and the soon-to-be-announced next round of the i6 challenge to reward innovative, groundbreaking ideas that accelerate technology commercialization.

Acting Secretary Blank, SBA Administrator Mills, Mayor Nutter Highlight Federal Support for Philadelphia’s Entrepreneurs and Small Businesses

Acting Secretary Blank, SBA Administrator Mills, Mayor Nutter, CEO Desh Deshponde at NACIE in Philadelphia (Photo: Jason Heritage, Ben Franklin Partners)

Acting U.S. Commerce Secretary Rebecca Blank, along with Small Business Administration Administrator Karen Mills, Philadelphia Mayor Michael Nutter and Assistant Secretary of Commerce for Economic Development John Fernandez, addressed the media today in Philadelphia in conjunction with a meeting of the National Advisory Council on Innovation and Entrepreneurship (NACIE) to discuss federal support for area entrepreneurs and small businesses, research and commercialization efforts in the private sector, and the President’s American Jobs Act. 

The event was held before a crowd of local business leaders at The Navy Yard - a business incubator and home to the new Greater Philadelphia Innovation Cluster for Energy Efficient Buildings.

"The Navy Yard is a prime example of both a growing regional innovation cluster and the value of public-private partnerships that support innovation and entrepreneurship," Acting U.S. Commerce Secretary Blank said. "It is part of the rebuilding of America's very economic foundation with investments in the building-block priorities that will help ensure the U.S. is home to the industries of the 21st century and the jobs they support."

Blank called for swift passage of the President’s American Jobs Act to help put more people back to work and put more money in the pockets of working Americans. The plan calls for cutting in half the payroll tax that comes out of every worker's paycheck, saving families an average of $1,500 a year. It also provides a payroll tax cut to 98 percent of businesses and eliminates the payroll tax on a firms’ new hires or employees to whom they give a raise.

National Advisory Council on Innovation and Entrepreneurship Holds Public Forum at Howard University

NACIE participants around table with Locke

Commerce Secretary Gary Locke addressed a town hall-style public forum at Howard University’s School of Business in Washington, D.C. today as part of a meeting of the National Advisory Council on Innovation and Entrepreneurship (NACIE). In his remarks to students, faculty, administrators and business leaders, Locke praised the Council for its ongoing efforts to accelerate innovation and entrepreneurship, and to help America win the future by out-innovating, out-educating and out-building our economic competitors.

Locke thanked the Council for their recommendations and highlighted the importance of NACIE’s work in creating policies that support President Obama’s innovation agenda by improving America’s economic competitiveness and meeting the needs of America’s entrepreneurs.

 

First announced in 2009 and authorized in 2011 America COMPETES Reauthorization Act, the Council advises the Secretary of Commerce on key innovation and entrepreneurship issues and engages with the public and stakeholders to promote effective public policies and regulations.