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Blog Category: Entrepreneurship

Standards Boost Business: Competing in a 21st Century Economy

Standards Boost Business logo

Guest blog post from S. Joe Bhatia, President and CEO, American National Standards Institute

From alternative energy and nanotechnology to electric vehicles, vast opportunities for U.S. innovation and economic growth are developing in new and expanding industry sectors. As the U.S. ramps up its efforts to create jobs for the 21st century economy, there is an incredibly powerful tool at hand that can help U.S. industry tap into these technologies and out-innovate competitors in the global market.

I’m talking about standardization – and there has never been a better time for American businesses to leverage standards and conformance to gain a powerful trade advantage. Standardization not only informs the direction of innovation, it impacts the strength of the American workforce. Standards have the potential to accelerate the idea-to-market cycle, increase the number of U.S. products and services, and save companies millions of dollars. In short, standards have the power to turbo-charge innovation and fuel business growth.

That’s why the U.S. standardization community has launched the Standards Boost Business outreach initiative – to help companies understand the strategic and economic value of standards to business and to our overall national competitiveness.

MBDA Helps Minority-Owned Businesses Win the Future

Workers installing solar panels on reservation building

Commerce's Minority Business Development Agency (MBDA) is enabling job creation and growth within minority-owned companies as they expand through innovation and untapped resources. MBDA has 50 business development centers and regional offices throughout the country and is preparing to open its newest business center in Cleveland, Ohio, in September to continue to create an environment for support, technical training and access to capital, contracts and to markets for business owners there.

Knowing that many jobs of the 21st century will be in clean and renewable energy, green technology, and Healthcare IT, the MBDA Business Centers are reaching out to minority-owned firms so they can expand into those new areas and keep communities strong and workers employed.

For example, MBDA client Sacred Power Corporation Inc. based in Albuquerque, New Mexico, is a Native-American-owned renewable and distributive energy manufacturer. Sacred Power operates on the principle that “the world in which we live can change its current direction and dependence on polluting energy sources and convert to renewable technologies that provide clean, long-term solutions to today’s energy problems.”

Secretary Locke Discusses Sustainable Economic Growth at APEC SME Summit in Japan

Secretary Locke Speaks at the APEC Small And Medium Sized Business Summit

Delivering remarks at the Asia-Pacific Cooperation (APEC) Small and Medium Enterprises (SME) Summit in Yokohama today, U.S. Commerce Secretary Gary Locke spoke about the efforts APEC is making to build an environment more conducive to job growth and innovation, and how business leaders must assume more responsibility to do the same.  

The Summit was hosted by the Japanese Chamber of Commerce and Industry (JCCI), which represents 515 local chambers of commerce and industry and boasts 1.35 million members all over Japan. More than 95 percent of its members are SMEs.

As the U.S. representative to the APEC SME working group, Locke highlighted the steps the U.S Commerce Department is taking to promote opportunity and job creation throughout the Asia-Pacific region – from cultivating the development of small- and medium enterprises to addressing innovation and intellectual property rights.  He also called on the assembled business leaders to get more involved in communicating to political leaders and other stakeholders what they do, how they contribute to their community, and what policies they need to succeed.  The Secretary also talked about the increasing importance of corporate social responsibility in helping businesses prove their value to the communities where they operate.

EDA Announces Competition to Bring Innovative Ideas to Market

The i6 Challenge Logo

The i6 Challenge is a new $12 million innovation competition administered by the Economic Development Administration (EDA) of the U.S. Department of Commerce, in partnership with the National Institutes of Health (NIH) and National Science Foundation (NSF). EDA will award up to $1 million to each of six winning teams with the most innovative ideas to drive technology commercialization and entrepreneurship in their regions. NIH and NSF will award a total of up to $6 million in supplemental funding to their SBIR grantees that are associated or partnered with the winning teams. (More) (Press release—PDF)

Secretary Locke Highlights the Importance of Entrepreneurship at Opening of Presidential Summit

Secretary Locke on Panel at Opening of Presidential Summit. Click here for larger image.

U.S. Commerce Secretary Gary Locke opened the Presidential Summit on Entrepreneurship at the Ronald Reagan International Trade Center addressing hundreds of entrepreneurs, business leaders, educators, and stakeholders from over 50 countries on five continents. Together with President Obama, the Commerce and State Departments hosted the summit, highlighting the work and talents of entrepreneurs from Muslim-majority countries and Muslim communities around the world. Following his remarks, Locke moderated the opening panel discussion on successful entrepreneurship. (Remarks) (Fact sheet)

Commerce Secretary Locke Addresses Economic Development Professionals at Federal Forum

U.S. Department of Commerce seal.

U.S. Commerce Secretary Gary Locke delivered remarks at the International Economic Development Council’s (IEDC) Federal Economic Development Forum today. Locke spoke about the critical role federal economic development agencies play in fostering innovation and entrepreneurship within local communities. The IEDC works to help economic development professionals create high-quality jobs, develop vibrant communities and improve the quality of life in their regions. Assistant Secretary of Commerce for Economic Development John Fernandez joined Locke at the forum. (Remarks)

Commerce Secretary Gary Locke Announces Plans for Forum on R&D Commercialization at Universities

Locke at podium. Click for larger image.

Photo: National Press Club

U.S. Commerce Secretary Gary Locke announced today his plans to host a forum with university leaders and key stakeholders on the roles of universities in innovation, economic development, job creation, and commercialization of federally funded research next month in Washington, D.C. “It’s not tenable for the United States to continue with the status quo,” Locke said at the Kauffman Foundation’s State of Entrepreneurship event. (More) (Remarks)

Presidential Summit on Entrepreneurship Now Accepting Nominations for Delegates

Image of video screen. Click to go to entrepreneurship Web site.

In his June “A New Beginning” speech in Cairo, President Obama announced that the U.S. will host a Summit on Entrepreneurship to identify how we can deepen ties between those focused on advancing entrepreneurship in Muslim communities around the world. Today, the Commerce Department’s new Office of Innovation and Entrepreneurship begins accepting nominations for delegates to the Presidential Summit on Entrepreneurship on its website, http://www.entrepreneurship.gov/summit. (More)

Commerce Secretary Gary Locke Launches Twitter Account

Twitter logo.

Image Credit: Twitter

U.S. Commerce Secretary Gary Locke has launched a Twitter account in an effort to connect with Americans from all walks of life, especially U.S. businesses and entrepreneurs that use the microblogging service. “Really excited to start tweeting! Innovation is the growth engine of the American economy & this is a great place to talk about that,” Locke's first tweet, from the Inc. 500/5000 conference, read. At the conference, attended yesterday by representatives of successful start-up businesses, Locke also announced the Commerce Department's new Office of Innovation and Entrepreneurship. To follow Locke, visit http://www.twitter.com/seclocke. (More)

Secretary Locke Announces New Commerce Initiatives to Foster Innovation and Entrepreneurship

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke announced 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. (More)