SOURCE: Ewing Marion Kauffman Foundation

Ewing Marion Kauffman Foundation

February 08, 2011 12:00 ET

The State of Entrepreneurship: Will Entrepreneurs Increase Hiring and Contribute to GDP Growth in 2011?

In Second Annual "State of Entrepreneurship" Address, Kauffman Foundation CEO Carl Schramm Presents Policy Recommendations to Promote Entrepreneurship and Accelerate Economic Growth Without Adding to the Deficit

WASHINGTON, DC--(Marketwire - February 8, 2011) - Following President Obama's increased focus on regulatory reform and his call for innovation during the State of the Union Address, and on the heels of the Startup America Partnership launched last week, Carl Schramm, president and CEO of the Ewing Marion Kauffman Foundation, today urged policymakers to adopt specific rule changes that will accelerate economic growth through innovation and entrepreneurship. At the second annual Kauffman State of Entrepreneurship Address, titled "The Rules for Growth," Schramm cited data illustrating that the majority of all job creation in the United States is driven by young firms and emphasized how changes to specific laws and regulations could enable startups to grow more rapidly without adding to the deficit.

Kauffman also released today its groundbreaking new book, Rules for Growth, which features comprehensive essays prescribing a new set of policies for policymakers, legal scholars, economists and business leaders to accelerate economic growth and innovation.

"The policies discussed here today are meant to serve as a roadmap for policymakers who want to help create the conditions that will contribute to higher rates of innovation and growth, improved living standards and better lives for people in the United States and throughout the world," said Schramm. "These efforts will require a thoughtful re-examination of how laws and institutions affect economic growth and the types of adjustments we can make as a nation to incubate high-growth firms."

The event also convened a panel of experts and thought leaders on economics, entrepreneurship and growth, including Arthur C. Brooks, president of the American Enterprise Institute; E.J. Dionne, senior fellow, Governance Studies, Brookings Institution and columnist for The Washington Post; George Priest, director of the John M. Olin Center for Law, Economics and Public Policy at Yale Law School; and Philip K. Howard, founder and chair of the organization, Common Good.

Recommendations discussed at the State of Entrepreneurship and in Rules for Growth include:

  • Reforming U.S. immigration laws so that more high-skilled immigrants can launch businesses in the United States. 

  • Improving university technology licensing practices so university-generated innovation is more quickly and efficiently commercialized.

  • Reforming the tax code to better encourage entrepreneurial risk-taking, while reforming the research tax credit so it better helps to foster innovation.

  • Reforming intellectual property laws to ensure a more thorough examination of patents, allowing for a post-grant opposition process and tiering the patent process by allowing inventors to pay for expedited patent reviews.

Rules for Growth is published by the Kauffman Foundation and is available for free download at www.kauffman.org/rulesforgrowth. Follow the conversation on Twitter at #RulesforGrowth.

Video of today's address and panel discussion, which was webcast from the National Press Club in Washington, will be posted at www.kauffman.org/growth2011.

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 set to open in 2011. 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 www.kauffman.org, and follow the Foundation on Twitter at @kauffmanfdn and Facebook.

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