SOURCE: Ewing Marion Kauffman Foundation

Ewing Marion Kauffman Foundation

September 08, 2011 08:00 ET

What Three Things Will Entrepreneurs Do for Our Economy? As Nation Prepares for President's Jobs Speech Tonight, Kauffman's Carl Schramm Provides Answers in New Whiteboard Video; Another Video Also Released Illustrates How Kauffman's 'Startup Act' Can Create Jobs

KANSAS CITY, MO--(Marketwire - Sep 8, 2011) - On the heels of a U.S. Department of Labor jobs report showing no net increase in jobs for the first time in 11 months -- as well as an unwavering, high rate of unemployment -- the Ewing Marion Kauffman Foundation released two videos today that illustrate how entrepreneurs drive the nation's economy and how policymakers can help new firms start and grow.

In the first video, Kauffman Foundation President and CEO Carl Schramm narrates animated whiteboard drawings that illustrate the three vital contributions entrepreneurs make to the economy: They birth innovations, create jobs and produce all net new wealth in society.

In the second video, Schramm and Kauffman Vice President for Research and Policy Robert Litan outline how the Foundation's proposed Startup Act can boost the U.S. economy through policies that pave the way for more businesses to start and grow. The Act focuses on four simple, low-cost solutions to achieving a strong and sustained economic recovery, including:

  • Welcoming immigrants capable of building high-growth companies to the United States

  • Providing new firms with better access to early-stage financing and allowing shareholders of companies with market cap below $1 billion to opt-in under the Sarbanes-Oxley Act

  • Accelerating the formation and commercialization of new ideas

  • Removing barriers to the formation and growth of new businesses

To read the full document of the proposed Startup Act and to view the videos, visit www.kauffman.org/startupact.

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 that opened in Fall 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 www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

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