From the White House: Energizing Entrepreneurs to Help End Extreme Poverty

From: The White House

FACT SHEET: Strengthening Entrepreneurship At Home and Abroad

“Let’s do more to help the entrepreneurs and small business owners who create most new jobs in America.”

– President Barack Obama, State of the Union, January 28, 2014

Entrepreneurs play a critical role in expanding the economy and creating jobs.  President Obama is committed to increasing the prevalence and success of entrepreneurs across the country, including through the White House Startup America initiative, an “all-hands-on-deck” effort to expand access to capital, accelerate innovation, and promote private sector efforts to strengthen the Nation’s startup communities.  The United States also runs and funds hundreds of programs to support entrepreneurs globally and maintains a broad coalition of governments, business people, civil society, investors, and academics to educate and support entrepreneurs around the world.

Building on these efforts, today the Administration is announcing a series of new steps to accelerate the success of entrepreneurs in the United States and across the globe:

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Energizing Entrepreneurs to Help End Extreme Poverty: Fostering entrepreneurs and strengthening entrepreneurial ecosystems are vital elements of USAID’s newly launched U.S. Global Development Lab (The Lab).  The Lab will empower a global network of individuals to help create, solve and scale innovative solutions to global challenges by applying rigorous scientific, business, research, and technological expertise. In the next five years, scientists and technology experts at The Lab will create a new global marketplace of innovations and take them to scale to reach over 200 million people worldwide. The Lab is pioneering open-source development models like Development Innovation Ventures and Grand Challenges that nurture new solvers and players in emerging markets and spurring innovation. The Lab is expanding a Global Development Alliance furthering LGBT equality through entrepreneurship and small and medium enterprise growth in Latin America.  A new USAID Research and Innovation Fellowships Program will send more than 60 young U.S. leaders in science and technology to universities, NGOs, and companies in 12 developing countries this year.

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