Hardly a day passes by without a headline related to infrastructure—from the interest in “smart cities,” to calls for increased investment, to a focus on economic prosperity and competitiveness, to ongoing recovery efforts following major disasters.
President Obama was right to highlight the role that innovation plays in strong economies. Innovation and business success are closely linked. Established companies that do not innovate will lose market share to competitors that do. High-growth start-ups are built upon innovations that they want to force into the marketplace.
Yet, while everyone says they want more innovation, words are easy. The tough, practical questions remain: How do we get more innovation and how do we harness it? That is the challenge we face.
Let’s consider the broader ecosystem for innovation.
We all have moments that catch us by surprise. Mine came recently as I stepped off the plane in a place known as the “Magic City.” I’ve been fortunate to visit a lot of places in my life, but few struck me the same way as Minot, North Dakota.
Access to capital and liquidity are the lifelines of any business—whether it's an enterpreneur using his personal credit card to fund his startup business, a mid-size company launching an initial public offering, or a large global company drawing on its line of credit from its bank.
America faces a challenging economy and difficult road back to prosperity. Yet, in every challenge there is opportunity, and one of the United States’ greatest assets is its capacity to create revolutionary products, solutions and ideas that change the world. American ingenuity is at its best when things look bleakest. The National Chamber Foundation (NCF) with its U.S. Chamber partners, our Fellows and Scholar Program and unique programming are dedicated to fostering the ideas and debate that will support a robust and innovative American economy.
Our farmers and ranchers have consistently found through innovation new ways to grow more with less.