1. NESTA Opening Remarks
1.1 Geoff Mulgan CEO
1.1.1 Entrepreneurship
1.1.1.1 Rarely Mentioned
1.1.1.2 But it Creates Jobs
1.1.1.3 International Aspects
1.1.1.4 Quality
1.1.1.4.1 Does it deliver
1.1.1.5 Qualitative and Quantitative
1.1.2 Why?
1.1.2.1 GDP not recovered
1.1.2.2 Unemployment not dropping
1.2 Stian Westlake Policy and Research
1.2.1 Small %
1.2.1.1 Create new jobs
1.2.2 Not from a specific sector
1.2.3 Innovation does matter
1.2.4 Productive
1.2.4.1 High Growth
1.2.4.2 High Shrinkage
1.2.5 Nesta
1.2.5.1 Supporting
2. Kauffman Foundation Involvement
2.1 Asked "How could we help the British economy grow" by Gordon Brown
2.1.1 Led to
2.1.1.1 UK
2.1.1.1.1 Enterprise Week 2007
2.1.1.1.2 Enterprise Week
2.1.1.1.3 Global Entrepreneurship Week
2.1.1.2 USA
2.1.1.2.1 Entrepreneurship Week
2.1.1.3 Global Entrepreneurship Week LinkedIn
3. Data
3.1 Schumpeter
3.2 Assume it's correct
3.3 Downturn
3.3.1 Means trouble
3.3.2 Not opportunity
3.4 Economics
3.4.1 Cannot always explain the current state
3.4.2 Does not predict well
3.5 Entrepreneurship
3.5.1 Is risk
3.5.2 Not "economics"
3.6 US
3.6.1 Unemployment rises
3.6.2 Giving up on Growth
3.6.3 Action
3.6.3.1 Invest into GM and Chrysler
3.6.3.1.1 Result: Less jobs
3.6.3.1.2 Could have been bought
3.6.3.1.3 Could have produced innovation centre(s) in Detroit
3.6.4 Job Growth Through Innovation CNN interview with Carl Schramm
4. Growth
4.1 Galbraith
4.1.1 Believed growth came from existing large corporations
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4.1.2 See Criticism
4.2 40% of GDP is created by companies not existing in 1980
5. Government
5.1 Snake Oil
5.1.1 Entrepreneurial Consultants
5.1.1.1 Have never been one
5.2 Starving Business
5.2.1 Shrinks Economy
5.3 Feeding Economy
5.3.1 Expands Business
5.4 Business Schools
5.4.1 Write Business Plans
5.4.2 To seek Venture Capital
5.4.3 BUT Only 14% of Top 500 growing companies have capital
5.4.4 AND the 86% are mainly created by people in their 40s
5.5 How quickly do they die?
5.5.1 60-80%
5.5.2 In 3-5 years
5.5.3 Ed. But they have employed people and stimulated other business
6. Kauffman Labs
6.1 We want more start ups
6.2 Expanding the denominator
6.3 Recruiting
6.4 Testing
6.4.1 Size
6.4.2 Capital
6.5 New learning
6.5.1 Not a business plan
6.6 Your Start Up is not like final business
6.7 Entrepreneurship is
6.7.1 Searching
6.7.2 When markets and product are found
6.7.3 Form Company
7. Needs Passion
7.1 To Grow Economy
7.2 To Produces Wealth
7.3 Increase Rate of New Start Ups
8. Carl: What do you advise our government to do?
8.1 Don't help the incumbents: big established businesses
8.2 Create jobs with new business
8.3 Tip: You need at least 2 people to start one
8.4 Advisers
8.4.1 Are not ex-small business owners
8.4.2 They need to be entrepreneurs
8.5 Too much advice
8.5.1 There is not enough "How can we help"
8.5.2 Clear out the cupboard
8.5.2.1 Taxation
8.5.2.2 Legislation
8.5.2.3 Other obstacles
8.6 BIG BUSINESS does not help small business
8.6.1 Government should not be interfering
8.6.2 And USA political parties need to declare sources of income
9. Discussion
9.1 Government targets High Tech but this is not most companies
9.1.1 Sunday Times Fast Track 100 says the same
9.2 Innovation - Input v Output Different and successful model in Germany Failure is a success in US but not elsewhere
9.2.1 Palestine & Jordan new developments by young people
9.2.2 Need international models/profiles
9.2.3 Are they really universal?
9.2.4 Encouraging innovation
9.2.4.1 Unintentional
9.2.4.2 Not top down
9.3 Explain German Success? Or how it works in Africa?
9.3.1 Experiment everywhere
9.3.2 Find out what works
9.4 Gender differences?
9.4.1 95% of Patents filed by men!
9.4.2 Higher Graduation rates now for women
9.4.2.1 But no growth in their presence in high growth firms
9.4.2.2 Need more women VCs and AIs
9.5 Education needs to encourage it
9.6 How can government farm problems and not solutions? e.g. Changing risk averse procurement
9.6.1 Very tough to do
9.6.2 Takes years to happen
9.7 Government must not think R&D equals Innovation
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