Big Support for Small Business

Gordon W. Day2009 IEEE-USA President

What and Why?

Entrepreneur: One who organizes, manages, and assumes the risks of a business or enterprise• French: entreprendre “to undertake”

Engineers and other applied technologists create jobs• These are our members

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Recent Analysis from the Kauffman Foundation

“….from 1980-2005, nearly all net job creation in the United States occurred in firms less thanfive years old.

“….without startups, net job creation for theAmerican economy would be negative in all but a handful of years.”

“Of the overall 12 million new jobs added in 2007, young firms were responsible for the creation of nearly 8 million of those jobs.”

Analysis from the U.S. Small Business Administration

Small businesses have created between 60% and 80% of all new jobs in U.S. since mid-1990’s

Small businesses employ half of all private sector employees

Small businesses employ 39 percent of high tech workers (scientists, engineers, and computer workers).

Small businesses generate half of America’s nonfarm GDP

Small Businesses produce 13 to 14 times more patents per employee than large patenting firms.

– These patents are twice as likely as large firm patents to be among the one percent most cited.

More IEEE Members are Becoming Entrepreneurs

36% of IEEE members own or work for small business (500 or fewer employees).

IEEE-USA receives frequent requests for entrepreneurial support.

IEEE-USA’s goal….to help members start and build companies, leveraging their innovations to create jobs that will benefit the profession and the entire country.

Engineers Create Jobs

Electrical and Electronics Engineering Employment

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Information and Networking at IEEE Conferences

IEEE Publications:The Documentary Record

IEEE-USA Entrepreneurs’ Village

The Village Forum

IEEE-USA eBooks on Entrepreneurship

IEEE-USA eBooks on Innovation

IEEE-USA Webinars on Entrepreneurship

IEEE-USA TechMatch

IEEE-USA Mentors for Entrepreneurs

Directions to Resourcesfor Entrepreneurs

New Jersey Business Portal

New Jersey Small Business Development Centers

New Jersey Technology Incubators

IEEE-USA Entrepreneurs’ Networks

IEEE-USA Entrepreneur Achievement Award

IEEE-USA Position Statement on SBIR Reauthorization

IEEE-USA – SBA Strategic Alliance

Signing of the SBA/IEEE-USA Strategic Alliance

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How Else Can We Help?

Scott GraysonAssociate Managing Director202-530-8376s.grayson@ieee.org

Gordon Day2009 IEEE-USA PresidentG.Day@ieee.org