karen mills: venture capital and u.s. tradecompetitiveness
TRANSCRIPT
- 1.Venture CapitalandU.S. Trade Competitiveness Karen G. Mills [email_address] April 4, 2005 Council on Foreign Relations How Does Innovation TranslateInto American Jobs?
2. How does innovation translate intoAmerican jobs? DISCOVERY Basic Research Invention Innovation Commercialization Growth BUSINESS FORMATION JOB CREATION
- Growth Capital and Expertise
- Small Business
- Entrepreneurship
3. Each quarter the U.S. economy createsover 7 million jobs Source: Bureau of Labor Statistics, U.S. Department of Labor Millions 4. New jobs come from business expansionsand from newly formed firms Source: Bureau of Labor Statistics, U.S. Department of Labor Millions 5. The United States is losing manufacturing jobs Source: U.S. Department of Labor, Bureau of Labor Statistics Year Millions 6. Job losses and job creation are influencedby different forces Job Creation
- New business openings
- Business expansions
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- Small business
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- Venture backed businesses
Job Losses
- Business Closures
- Productivity
- Offshore transfers
7. New firms and the expansion of smallbusinesses create most of the jobs Source: Small Business Administration; MMP Analysis Percent of Total New Jobs Created by Firm Type1991-2001 New Firms Small FirmExpansion