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The Power of Inclusive Innovation

Blogged By: 
Alejandra Y. Castillo, MBDA National Director
Created on August 11, 2015
 

Business Owner with Open SignEntrepreneurs are the driving force of our 21st century economy. They have the power to spur innovation, create jobs, stabilize communities, and inspire the next generation of inventors.

At the Department of Commerce, it is our goal to create the economic conditions that allow start-ups and entrepreneurs to succeed. While we meet this goal through a wide variety of Department initiatives, the Minority Business Development Agency (MBDA) focuses on accessing and engaging the talents and inventiveness of all our citizens through inclusive innovation efforts. Inclusive entrepreneurship and inclusive innovation means that every American, regardless of their background or past, has the opportunity to engage the marketplace and offer their goods, services, gifts, and talents to the world.

Grand Slam Day for America’s High-Growth Entrepreneurial Ecosystem and Its Startups

Blogged By: 
Javier Saade, SBA Official

Created on August 10, 2015

 

On August 4, President Barack Obama hosted the first ever White House Demo Day, and what a day it was.   The content of the day is front and center of what our agency does every day. 

The White House helped us put a magnifying glass on the wide-ranging talents of innovators from diverse walks of life and across the country and the small companies they lead.  Our economy, especially our entrepreneurial economy is the envy of the world.  For it to fire on all cylinders, we need to draw on talented Americans from all backgrounds and locations and leave no one on the bench. 

The Demo Day Fact Sheet lays out amazing actions, commitments and announcements made by federal agencies and a broad swath of the private sector.  The day was nothing short of astounding and SBA’s Office of Investment and Innovation was equally excited to have had a leadership role supporting the White House Office of Science and Technology.

Fueling High-Tech Growth through Minority Businesses

Blogged By: 
MBDA
Created on August 6, 2015
 

NIST Lab to MarketThe U.S. Department of Commerce has established a new partnership between the Minority Business Development Agency (MBDA), the National Institute of Standards and Technology (NIST), the National Oceanic and Atmospheric Administration (NOAA), and the Federal Laboratory Consortium for Technology Transfer (FLC) to support minority business development through our nation’s investment in research and development at more than 300 federal laboratories. 

The Minority Business Enterprise Technology Transfer Innovation Consortium will support American innovation and global competitiveness by promoting high-technology opportunities to groups that have had historically low participation in this process. It was one of a number of initiatives to promote entrepreneurship announced as part of the first White House Demo Day, held August 4, 2015. 

By fostering “lab-to-market” initiatives, the partnership aims to increase the number of minority businesses that engage in advanced technology transfer by creating strategic regional ecosystems that link the national science and technology enterprise with the MBDA centers that support minority businesses.

“MBDA is very excited about this new partnership. It will ensure that minority-owned firms and students of color are truly engaged in the 21st century economy,” said Alejandra Y. Castillo, national director at MBDA. “It will support diverse communities that need innovation resources to spur local job creation in various STEM industries.” 

SBA Launches Second Round of InnovateHER

Blogged By: 
SBA News
Created on August 5, 2015
 

Innovate HerThe U.S. Small Business Administration announced the launch of the 2016 InnovateHER: Innovating for Women Business Challenge and Summit, including a nationwide women’s business competition to highlight innovative products and services that help impact and empower the lives of women and their families.

“The SBA is pleased to announce this second round of our InnovateHER Business Challenge, building on the success of our 2015 challenge where we engaged over 100 organizations and reached over 1,000 entrepreneurs across the nation,” said SBA Administrator Maria Contreras-Sweet.  “We have expanded on our pilot InnovateHER Women’s Business Challenge to include a women’s summit that will make the competition more impactful.”

Earlier this year during the SBA’s InnovateHER Business Challenge’s first round, up-and-coming Back2Family, owned by Ty Delley of Lincoln, took home the nod as Nebraska’s winner. 

U.S. Health IT Companies Experience a Boost in Export Opportunities

Blogged By: 
Matthew Hein, International Trade Specialist
Created on August 4, 2015
 

Healthcare ITThe Health Information Technology (Health IT) sector has become an important, dynamic sector reshaping the healthcare system in the United States.  As other countries increase investments in their healthcare systems, they are interested in investing in digital products and services, driven by computers and mobile phones, rather than through paper-based systems. As a result, U.S. Health IT companies have become prime candidates to offer the technologies and services needed to meet the requirements of the 96 percent of patients based outside of the United States. The International Trade Administration (ITA) is committed to providing U.S. Health IT exporters the data-driven market intelligence they need to succeed globally – whether finding a company’s next export market or comparing opportunities for first-time exporters.

This is the first Top Markets Report on the Health IT sector, providing exporters with analysis of future export opportunities, and possible barriers companies may encounter overseas. The Health IT Top Markets Report, part of the larger Top Markets Series, includes a methodology used to rank 80 potential export markets, eight country case studies, and several charts and graphs which show the market potential for the sector. The Health IT Top Market Report is forward looking, using data and analytics to project the strongest markets for future export growth; designed to help exporters compare opportunities across borders, identify opportunities for market expansion and/or market entry; and help exporters prepare effective strategies for entering or expanding their presence in foreign markets.

So what does the future hold for the sector? With approximately $7 trillion in healthcare expenditures worldwide, the opportunities available for the Health IT sector are vast. However, since the rules and regulations governing the sector may not be keeping up with the innovations being developed, companies would greatly benefit from counseling and guidance from ITA when exploring opportunities overseas, both from the Top Market Report, but also through the ITA network of resources located worldwide.

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