Seven things to learn from National Entrepreneurship Month In November

By: Sharjeel Sohaib

โ€ข 

Nov 11, 2022

 โ€ข 

Utilize Our Platform

Key Points

  • In 2011, President Obama designated November as National Entrepreneurship Month, to celebrate the success of entrepreneurs and innovators.    
  • According to the Global Entrepreneurship Development Institute (GEDI), an enterprise is a significant engine of economic growth, and entrepreneurs help create jobs, commercialize innovative technologies, and create wealth for themselves and their communities.  
  • The Economic Development Administration (EDA) of the United States is investigating ways to promote and foster entrepreneurship. In October, EDA announced grants under its Build to Scale program โ€” 51 grants totaling $47 million in federal investment and $48 million in matching funds were announced by EDA.

1. EDA and OIE Playing a Leading Role in Supporting Entrepreneurs

EDA and the Office of Innovation and Entrepreneurship (OIE) are dedicated to learning from the entrepreneurial experience and continuing to evolve the program design and delivery to accelerate technologies as entrepreneurs take them from the lab to the marketplace and into their lives.

2. Entrepreneurs: The Backbone of Economy

It is impossible to undervalue the value of entrepreneurs. Entrepreneurs pinpoint and address America’s most important issues while providing goods and services that improve the state’s prosperity, well-being, and nation’s economic and national security. 

They convert creative concepts into novel technologies and market opportunities while consistently being in our communities’ daily routines. Ultimately, entrepreneurs spur economic expansion, generate jobs, and boost American competitiveness.

Entrepreneurs meet the challenges the state face as they become more complexโ€”climate change, pandemics, rising inequality, and declining trustโ€”by creating, implementing, and delivering cutting-edge new technologies.

3. Promoting Entrepreneurship Across the U.S. 

Building, maintaining, and ensuring everyone has access to infrastructure will foster entrepreneurship across the nation. Healthy ecologies enable the growth of entrepreneurs. 

Entrepreneurs depend on a solid infrastructure, whether creating complex, complicated technologies like dependable, clean energy generation or addressing urgent, local issues like constant, reliable pharmaceutical delivery.

The foundation of the nation’s information-rich economy is broadband. The manufacture and delivery of products are made possible by dependable supply chains via highways, rail, ports, airports, and cutting-edge last-mile transportation. 

The national laboratories’ distinctive, state-of-the-art testing and demonstration facilities make it easier to introduce ground-breaking technology to markets and communities. 

4. EDA Providing Access to Resources

Businesses have access to resources that meet their demands for expansion when the appropriate types of capital are made accessible at the correct times. 

Additionally, human infrastructure, including systems for childcare, healthcare, and workforce development, contribute to the diversity, equity, and inclusivity of entrepreneurship. The individuals and groups inside those ecosystems must be linked to access this infrastructure. 

5. Funding: A Vital Resource

Entrepreneurship is a team sport, and EDA’s flexible public funding supports the entire continuum: physical infrastructure, equipment, capital formation and access, entrepreneur support, and venture growth. 

The OIE’s programs help regional coalitions form robust networks of technology workers, investors, and entrepreneurs and provide them with direct support.

6. Recent Support Initiatives

In October, OIE announced the recipients of the 51 projects totaling $47 million in federal funding and $48 million in matching money, making up the newest Build to Scale grantees cohort. 

That amounts to about $100 million invested in developing varied technology entrepreneurship ecosystems across the United States, emphasizing advanced manufacturing, AgTech, biotech, renewable energy, and more. 

With this funding, OIE has contributed to more than 375 projects in all 50 states and territories. These initiatives offer entrepreneurs and innovators more than just services. 

7. EDA’s Funding Initiatives for the Inland Empire-based Organizations

By focusing on specific regions and technologies while enlarging the funnel to include and empower more people to participate in and lead in technology-driven economies, they bring together the individuals, organizations, and resources that enable innovation and entrepreneurship to proceed quickly and at scale.

Wrap Up!

The Economic Development Administration (EDA) of the United States is investigating ways to promote and foster entrepreneurship. Because technology innovators and business owners encounter various unique obstacles and opportunities along their journeys, November is devoted to all entrepreneurs. Because technology innovators and business owners face multiple challenges and opportunities along their journeys, November is dedicated to all entrepreneurs.

0 Comments

Submit a Comment

Connecting you with the best startups, people & events in the Inland Empire.

Support Startup News & Media!


Enjoying the startup news & media? Support us!

We have big plans, and we need your help!

Startempire Wire is a community of people working together to promote innovation, entrepreneurship, and investment in the Inland Empire. We provide resources and connect people with the startup culture.

We believe that the Inland Empire has all of the ingredients for success. This region just needs a platform to show the world what it can do – And this is exactly what Startempirewire.com is doing. Our goal is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire.

We have big plans, and we need your help! If you are passionate about creating a thriving local startup ecosystem, then we would like to invite you to join in contributing to the community by supporting us. You can do that by supporting us financially or by being an active contributor. In return, we will give you (depending on sponsorship level) free access to our content, other level based perks &ย  the opportunity to connect with a network of passionate people working to build a better future for all of us.

We cover the good and the bad of entrepreneurship, startups & business events; we do it with passion and purpose. If you like what we do, support us & please consider becoming a patron. Your support is essential for independent local startup media to survive & thrive.

You can make a regular one time donation to become a sponsor at any level, or you can choose to become a monthly or event sponsor.ย  Every little bit counts! Thank You

Verious B. Smith III

Founder, Startempire Wire

Related Articles

CTR and Fuji Electric team up for Hell’s Kitchen Geothermal . . .

CTR and Fuji Electric team up for Hell’s Kitchen Geothermal . . .

Controlled Thermal Resources (CTR) and Fuji Electric Corp. of America (FEA) recently signed a Memorandum of Understanding for the completion of several Equipment, Procurement, and Construction (EPC) contracts. The contracts will deliver multiple geothermal power...

China Airlines Boosts Recovery of International Air Service with  . . .

China Airlines Boosts Recovery of International Air Service with . . .

Ontario International Airport in California has announced that China Airlines will fully restore daily round-trip service between Southern California's Ontario International Airport (ONT) and Taipei beginning March 26, 2023. The resumption of daily service comes after...

Riverside and San Bernardino Clinics to Benefit from Pair Team, a . . .

Riverside and San Bernardino Clinics to Benefit from Pair Team, a . . .

Pair Team, a California-based nonprofit organization, is significantly impacting health clinics in San Bernardino and Riverside counties. Pair Team aims to provide underserved communities with quality healthcare, education, and technology resources. By partnering with...

Stay Up On Startempire News

Access Premium Content

Startempire Wire premium content access is free during the beta period of ourย  website.ย  Join during beta and get a grandfathered discount when we launch.

$5 for first month then $15 per month

Get Every Update

Would you like to receive Startempire Wire updates in your inbox? Subscribe below!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

Follow Startempire Wire on other social media channels.

My cart
Your cart is empty.

Looks like you haven't made a choice yet.