Establishing a U.S. Entrepreneurial Corps to Foster an Inclusive Small Business Ecosystem
Summary
The next administration should create a U.S. Entrepreneurial Corps (“E-Corps”), a program to train, invest in, and build networks for the next generation of small business leaders. E-Corps should include three components: 1) a national network of 1,000 small business incubators co-located at Historically Black Colleges and Universities and at Land-Grant Universities, 2) a competitively selected cohort of 2,000 small business connectors to staff the incubators, and 3) underrepresented entrepreneurs to participate in the program. E-Corps reimagines the Federal Government’s approach to building an inclusive small business ecosystem by providing support to community anchor institutions while connecting underrepresented entrepreneurs to capital and historically inaccessible networks of financiers and advisors. E-Corps will become the connective tissue for entrepreneurial communities across our country, spanning both urban and rural communities.
By providing essential funding mechanisms, the Bioeconomy Finance Program will reduce the risks inherent in biotechnology innovation, encouraging more private sector investment.
While the U.S. has made significant advancements and remained a global leader in biotechnology over the past decade, the next four years will be critical in determining whether it can sustain that leadership.
It’s paramount to balance both innovation capabilities and risk as we work towards ensuring that the U.S. bioeconomy is a priority area for both the Nation and for National Security.
The Federation of American Scientists supports the National Security Commission on Emerging Biotechnology’s Final Report and the Recommendations contained within it.