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Innovation


  • Submitted on 08 August 2016

    Created on August 8, 2016
     

    U.S. Demographics Are Key To Our Economic Destiny

    Cross post from Medium

    U.S. Demographics Are Key To Our Economic Destiny

    This year for the first time, the United States served as an official partner country of the world’s largest industrial trade fair, Hannover-Messe. Along with President Barack Obama and U.S. Department of Commerce Secretary Penny Pritzker, I accompanied a delegation of American minority entrepreneurs to Germany.

    Within hours of the fair’s opening, it was evident that we had stepped into a time portal that zipped us into the future of the global industrial economy. The fair’s theme, “Integrated Industry — Discovery Solutions,” only hinted at the amazing innovation-driven universe that we ultimately encountered at the trade expo. I witnessed the connective tissue of a vast, powerful technological framework taking shape — the Internet of Things (IoT) — and sensed that we were at the threshold of a major seismic shift in global industries, an unprecedented period of technological advancement. A new world of Artificial Intelligence (AI), advanced manufacturing, Big Data, and sensors is remaking entire industries at a breakneck pace.

  • Submitted on 02 August 2016

    Created on August 2, 2016
     

    The U.S. Small Business Administration released its highly anticipated Small Business Innovation Research (SBIR) online tutorials to help small businesses navigate the SBIR program. The site provides users with a mobile-compatible site to learn about the program through a combination of videos and text. This platform will provide accessible program information and training resources to underrepresented areas.  There is no registration or fee required and the courses are open to all.

    “We are excited to introduce these tutorials.  We know there are many small businesses in rural communities as well as young entrepreneurs that are unaware of this amazing program,” said Mark Walsh, SBA’s Associate Administrator for Investment and Innovation.  “SBA has pulled together resources from across the federal government, providing them in a format easily accessible on mobile devices, while allowing users to select just the information they need.”

  • Submitted on 27 July 2016

    Created on July 27, 2016
     

    Did you know that the U.S. Small Business Administration (SBA) has the largest seed fund on the planet?

    Capital formation or “seed money” is the first infusion of capital to make an idea go from a napkin to reality. America's Seed Fund, otherwise known as SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, specialize in assisting entrepreneurs in the technology and science fields. SBA is authorized by Congress to deploy $4 billion annually and there is $25 billion in assets currently under management.

  • Submitted on 27 July 2016

    Created on July 27, 2016
     

    Empowering bold entrepreneurship by inventors and businesses drives the U.S. economy in a global marketplace. We at the U.S. Patent and Trademark Office know that entrepreneurs today must keep the challenge of global competition front of mind. That’s why we provide an array of tools and resources designed to assist innovators in ensuring their intellectual property rights are respected across the globe. Check out our International IP Toolkit to learn more about our Global Dossier program, our Global Intellectual Property Academy, and so much more.

  • Submitted on 29 June 2016

    Created on June 29, 2016
     

    Assess Costs EverywhereThe Department of Commerce's Assess Costs Everywhere tool (ACE) highlights the hidden costs and risks that manufacturers need to consider when deciding where to locate their operations or supply chains in the United States. 

    Since launching ACE in April 2013, the Department's Office of the Chief Economist has periodically updated the data and research underlying its analysis of 10 costs and risks.  This week, coinciding with the third SelectUSA Investment Summit, we are announcing a new set of updates to the tool. The Summit brings together global companies, U.S. economic development agencies, and other parties working to encourage and facilitate investment in the United States—people who have done the calculus that ACE promotes and find that investing in the United States pays off.

  • Submitted on 28 June 2016

    Created on June 28, 2016
     

    Throughout our country’s history, innovators have used the patent system to protect their ideas. From Samuel Hopkin's improved process in making potash, an ingredient in fertilizer in 1790, to the patents of the present day, the United States Patent and Trademark Office (USPTO) has evaluated and safeguarded innovation around the world.

    The many years of data relating to innovation are all made publicly available by the USPTO through their recently launched Developer Hub. The Developer Hub provides a shareable, social platform for anyone using the data to showcase the unique ways they’re using it. This public resource makes it possible to answer fundamental questions in the technology and innovation spaces.

    Among the vast set of data that the USPTO provides, the Patent Technology Monitoring Team (PTMT) produces aggregations of the underlying patent data, along multiple, different dimensions and partitions. These aggregations answer a host of questions for us, including questions related to trends in technology and innovation in any given sector.

  • Submitted on 26 May 2016

    Created on May 26, 2016
     

    AAPI Welcome SignsHighlighting the critical nature of their role in America’s global economic position, the U.S. Commerce Department launched the first-ever Asian-American Pacific Islanders (AAPI) Business Summit May 25.

    Co-hosted by the Minority Business Development Agency (MBDA) at the Commerce Department, and White House Initiative on Asian Americans and Pacific Islanders (WHIAAPI), the day-long event drew more than 200 members of the AAPI business community, including entrepreneurs, policy makers, and business leaders. Speakers included Congressional representatives and Obama Administration officials who addressed a range of topics and policies focused on strengthening economic ties and creating growth opportunities.

    The Summit provided a broad overview of Obama Administration economic development priorities affecting AAPI business owners – one of the fastest-growing populations in the United States. The program centered on solutions for business owners seeking to scale up enterprises, including expanding to overseas markets, accessing capital, and entering high-growth industries such as technology and other STEM-based sectors.

    AAPI-Owned Enterprises: An Expanding Part of U.S. & Global Commerce

    Nearly 2 million businesses are owned by Asian-Americans and Pacific Islanders nationwide, employing 3.6 million workers, and generating nearly $700 billion in revenue annually, according to the 2012 U.S. Census Bureau’s Survey of Business Owners.  In addition, Census Bureau research indicates that as the U.S. population becomes ‘majority minority’ by 2044, AAPI will represent a significant portion of America’s overall population.

  • Submitted on 26 May 2016

    Created on May 26, 2016
     

    There has recently been an overwhelming spike in attention to the lack of diversity in the innovation economy in the United States. Unfortunately, it is common to see this string of words illuminated under a negative light. For the past several years, industries that are the economic drivers for growth in the United States have made up the innovation economy.

    In fact, in 2016 the term “economy” could also be interchangeable with “innovation economy,” as the most profitable industries fall in this sector. These industries that include technology (i.e. health, digital, information, etc.), materials science, and computing lack both gender and racial diversity. With the changing demographic in the United States and the Census Bureau projecting that we will become a majority-minority nation in 2044, there is an urgent and critical need to embrace diversity and inclusion in the innovation economy. If not, the United States will continue to face negative economic and social consequences due to increased inequality and widening of the wealth gap.

  • Submitted on 17 May 2016

    Created on May 17, 2016
     

      THE CASE FOR INCLUSIVE INNOVATION: MINORITY ENTREPRENEURSHIP AND AMERICA’S ECONOMIC FUTURE BY: ALEJANDRA CASTILLO, NATIONAL DIRECTOR, MINORITY BUSINESS DEVELOPMENT AGENCY  “If our nation is to remain globally competitive, we must leverage and engage our diversity, especially our minority entrepreneurs.”

    Featured in the National Urban League 2016 State of Black America

    What images come to mind when you read the words “innovation” and “entrepreneurship”?

    If your primary points of reference are popular media or trade press, you might envision a fresh-faced 20-something-year-old on the leafy campus of a private university.

    But, as the daughter of a Dominican Republic-born entrepreneur who came of age in the Bronx, I have a different take on American economic development, entrepreneurship and innovation.  As the National Director of the Minority Business Development Agency at the U.S. Department of Commerce, I can accurately report that African-Americans, Latinos, Asians and Native Americans now represent the fastest-growing segment of entrepreneurs in the United States. 

  • Submitted on 17 May 2016

    watch the video

    Watch the DOC Talks

    Joann Hill, Chief of MBDA's Office of Business Development and Alika Kumar, Project Director of the Phoenix MBDA Business Center jointly participated in the Department of Commerce's first ever DOC Talks. Together, they gave a talk entitled "Minority Business Enterprise Parity for National Economic Prosperity."

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