The U.S. Innovation and Competition Act (USICA), formerly known as the Endless Frontier Act, has the primary objective of preserving U.S Global leadership and driving economic growth through bold investment in technology research and development, commercialization and manufacturing.
Our experience and leading academic research shows that entrepreneurship is a critical component of a thriving innovation system and an outsized driver of technology innovation and job creation.
High growth, technology entrepreneurs cross the chasm between research and development (R&D) and economic impact by taking outsized risk to create businesses that apply novel technology to solve critical challenges. While failure rates may be high, startups are a disproportionate source of invention, innovation commercialization1 and employment, ultimately contributing to a more resilient knowledge and technology-driven economy.
Global leadership in technology and innovation must include continued public sector investment to preserve and accelerate U.S global leadership in entrepreneurship. The private sector alone is insufficient in addressing three challenges faced by entrepreneurs; challenges which are amplified in categories critical to U.S leadership but complex in nature such as quantum, robotics or offshore wind.
Entrepreneurship is hard
Access to resources is not easy or equitable
Ecosystems require cultivation over the long-term
Read more about Insight and Actions in our six page guide here.