Steve Lohr of the New York Times took an interesting look over the weekend at the unique role that start-ups can play in helping the economic recovery. While many people believe small businesses are the key to stabilizing the economy and creating jobs, new research indicates that the age of a business (rather than the size) may be a better indicator of creating jobs and strengthening the overall market. Therefore, many folks are arguing, to generate jobs we must put a focus on seeding new ventures.
The article took me back to a conversation I had with Michael Gaiss of Highland Capital Partners earlier this summer (embedded above). During the conversation we touched on the current state of entrepreneurship and innovation in the U.S. and he had some interesting insight into how we can create ecosystems and environments for start-ups to thrive.
Boston, for example, has been trending in a positive direction in terms of enhancing the environment for innovation and entrepreneurship to thrive. Michael pointed to Mayor Menino’s creation of the Innovation District and the new incubators popping up around the greater Boston area with ties to angel and venture investors.
He also pointed to corporate efforts like PepsiCo10, which partnered his venture firm with PepsiCo and Mashable to form an innovation incubator that will offer free consulting, mentoring and digital opportunities to chosen start-ups.
For more of our conversation visit the Racepoint Group YouTube page.