federal_register: 2010-13978
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| 2010-13978 | Entrepreneurial Mentoring and Education | Notice | President Obama presented a national innovation strategy in September 2009 with a call to action to increase innovation in order to propel sustainable economic growth and create high quality jobs. Of particular importance to this strategy is the focus on the role of high-growth small businesses. At the May 2010 Presidential Summit on Entrepreneurship, President Obama called entrepreneurship "the most powerful force the world has ever known for creating opportunity." High-growth companies for the purpose of this request for information--those that have experienced high-growth already and those that have high-growth potential--do not have a precise definition. Some academic literature has focused on companies that double in revenue or employment over a four-year period. Others focus on companies that reach a customer base beyond the confines of geographic proximity (e.g., local businesses like restaurants or dry cleaners) to a "traded" sector (e.g., manufacturing, business services) because that market has more growth potential. Perhaps the simplest definition is businesses that have the potential to grow beyond a certain size-- beyond 500 employees or beyond $50 million in revenue or enterprise value. High-growth, early stage entrepreneurs face long odds; however, certain programmatic initiatives could significantly increase their chances to succeed. Mentoring relationships provide many benefits to a new entrepreneur and, ultimately, to their communities if those new companies have a greater probability of thriving and hiring employees. Similarly, entrepreneurial education geared towards the high-growth community is imperative in reaching a wider audience of potential entrepreneurs and encouraging a sustainable, innovation-based ecosystem. This RFI is designed to collect input from the public on ideas for creating and leveraging existing entrepreneurial mentoring and education programs for early stage, high-growth companies. One objective of the RFI is to understand how the needs of high-growth companies and entrepreneurs may differ from other businesses. In order to delve into these differences, the first section of the RFI seeks public comments on the best structure for public-private partnerships that can build mentoring networks between new and seasoned entrepreneurs. The second section of the RFI seeks public comments on best practices and program development for building entrepreneurial education programs targeted at preparing new and serial entrepreneurs to lead high-growth companies. | 2010-06-10 | 2010 | 6 | https://www.federalregister.gov/documents/2010/06/10/2010-13978/entrepreneurial-mentoring-and-education | https://www.govinfo.gov/content/pkg/FR-2010-06-10/pdf/2010-13978.pdf | Small Business Administration | 468 | President Obama presented a national innovation strategy in September 2009 with a call to action to increase innovation in order to propel sustainable economic growth and create high quality jobs. Of particular importance to this strategy is the focus... |