Mr. Schramm focused his comments on the individual as the entrepreneurs. Secretary Locke focused on institutions as a source. But likely the "Ford" entrepreneur will not come from an institution. Secretary Locke didn't mention how we are to spur on these entrepreneurs, Mr. Schramm did, and he's on the money. As entrepreneurs we need to be able to show spectacular returns to interest risk takers. Any way the spreadsheet can be enhanced with a spectacular tax break to place more of the income to the bottom line, the more likely is a risky idea to be funded. But as long as people like Mr. Schramm and Secretary Locke work together, we get the multiplier effect of that team, and it takes a team to execute.
As an mechanical and chemical engineer for over 40 years and an inventor nearly all that time, I have never seen a product that can't be improved, even my own (ahem), some very significantly with only a simple change. Considering we are importing some $400 in oil a year (70% of use), obviously there is unlimited opportunities in energy. That's where I'm focused because that will help America get back on its feet in a big way. We have to pay our bills somehow, and it's going to take a lot of "Fords" to do it, and energy can create them.
Communicating the big idea is a problem, however. The web sites that cater to inventions for nominal consumer products are not going to help. A Web site is needed that just caters to several $billion sales ideas because there is no better way for them to get attention if these ideas are by individual entrepreneurs. Again, as Mr. Schramm says, it is individual entrepreneur that will be starting the businesses that matter to job growth. The reason is corporations just fear for their existing order books, entrepreneurs create the order books with the potential for hyper growth.
Sara
New york
1/21/10
8:01 PM
Innovation plays such a critical role in entrepreneurship. Secretary Locke's comments regarding more investment in innovation and entrepreneurship are a step in the right direction.
Mr. Schramm focused his comments on the individual as the entrepreneurs. Secretary Locke focused on institutions as a source. But likely the "Ford" entrepreneur will not come from an institution. Secretary Locke didn't mention how we are to spur on these entrepreneurs, Mr. Schramm did, and he's on the money. As entrepreneurs we need to be able to show spectacular returns to interest risk takers. Any way the spreadsheet can be enhanced with a spectacular tax break to place more of the income to the bottom line, the more likely is a risky idea to be funded. But as long as people like Mr. Schramm and Secretary Locke work together, we get the multiplier effect of that team, and it takes a team to execute.
As an mechanical and chemical engineer for over 40 years and an inventor nearly all that time, I have never seen a product that can't be improved, even my own (ahem), some very significantly with only a simple change. Considering we are importing some $400 in oil a year (70% of use), obviously there is unlimited opportunities in energy. That's where I'm focused because that will help America get back on its feet in a big way. We have to pay our bills somehow, and it's going to take a lot of "Fords" to do it, and energy can create them.
Communicating the big idea is a problem, however. The web sites that cater to inventions for nominal consumer products are not going to help. A Web site is needed that just caters to several $billion sales ideas because there is no better way for them to get attention if these ideas are by individual entrepreneurs. Again, as Mr. Schramm says, it is individual entrepreneur that will be starting the businesses that matter to job growth. The reason is corporations just fear for their existing order books, entrepreneurs create the order books with the potential for hyper growth.
Innovation plays such a critical role in entrepreneurship. Secretary Locke's comments regarding more investment in innovation and entrepreneurship are a step in the right direction.
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