[Federal Register Volume 75, Number 111 (Thursday, June 10, 2010)]
[Notices]
[Pages 32973-32975]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-13978]
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SMALL BUSINESS ADMINISTRATION
Entrepreneurial Mentoring and Education
AGENCY: Small Business Administration.
ACTION: Request for information.
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SUMMARY: President Obama presented a national innovation strategy in
September 2009 with a call to action to increase innovation in order to
propel sustainable economic growth and create high quality jobs. Of
particular importance to this strategy is the focus on the role of
high-growth small businesses. At the May 2010 Presidential Summit on
Entrepreneurship, President Obama called entrepreneurship ``the most
powerful force the world has ever known for creating opportunity.''
High-growth companies for the purpose of this request for
information--those that have experienced high-growth already and those
that have high-growth potential--do not have a precise definition. Some
academic literature has focused on companies that double in revenue or
employment over a four-year period. Others focus on companies that
reach a customer base beyond the confines of geographic proximity
(e.g., local businesses like restaurants or dry cleaners) to a
``traded'' sector (e.g., manufacturing, business services) because that
market has more growth potential. Perhaps the simplest definition is
businesses that have the potential to grow beyond a certain size--
beyond 500 employees or beyond $50 million in revenue or enterprise
value.
High-growth, early stage entrepreneurs face long odds; however,
certain programmatic initiatives could significantly increase their
chances to succeed. Mentoring relationships provide many benefits to a
new entrepreneur and, ultimately, to their communities if those new
companies have a greater probability of thriving and hiring employees.
Similarly, entrepreneurial education geared towards the high-growth
community is imperative in reaching a wider audience of potential
entrepreneurs and encouraging a sustainable, innovation-based
ecosystem.
This RFI is designed to collect input from the public on ideas for
creating and leveraging existing entrepreneurial mentoring and
education programs for early stage, high-growth companies. One
objective of the RFI is to understand how the needs of high-growth
companies and entrepreneurs may differ from other businesses. In order
to delve into these differences, the first section of the RFI seeks
public comments on the best structure for public-private partnerships
that can build mentoring networks between new and seasoned
entrepreneurs. The second section of the RFI seeks public comments on
best practices and program development for building entrepreneurial
education programs targeted at preparing new and serial entrepreneurs
to lead high-growth companies.
DATES: Comments must be received on or before July 12, 2010.
ADDRESSES: You may submit written comments, identified by SBA docket
number SBA-2010-0009, by any of the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Mail: Ellen E. Kim, Senior Advisor, Investment Division,
U.S. Small Business Administration, 409 Third Street, SW., Washington,
DC 20416.
Hand Delivery/Courier: Ellen E. Kim, Senior Advisor,
Investment Division, U.S. Small Business Administration, 409 Third
Street, SW., Washington, DC 20416.
SBA will post all comments on http://www.regulations.gov. If you
wish to submit confidential business information (CBI) as defined in
the User Notice at http://www.regulations.gov, please submit the
information to Ellen Kim, Senior Advisor, Investment Division, U.S.
Small Business Administration, 409 Third Street, SW., Washington, DC
20416, or send an e-mail to [email protected]. Highlight
the information that you consider to be CBI and explain why you believe
SBA should hold this information as confidential. SBA will review the
information and make the final determination whether it will publish
the information.
FOR FURTHER INFORMATION CONTACT: Ellen Kim, 202-604-3394.
SUPPLEMENTARY INFORMATION:
A. Background
Small businesses are essential to our nation's economy and its
recovery from the recession. Small businesses create two out of every
three new jobs in this country; most of those net new jobs come from a
smaller sub-segment of companies with very high growth rates. Data
shows that these high-growth companies are spread all over the country
and across all industries. Nevertheless, first-time and even serial
entrepreneurs face many challenges to creating sustainable and high-
growth companies. Seven out of ten new employer firms last at least two
years, yet only half survive five years. Mentorship and educational/
training programs are proven methodologies that increase the likelihood
that a first-time entrepreneur will succeed.
The Obama Innovation Strategy lays out several initiatives that
indicate a renewed focus on education and training for entrepreneurs.
One such initiative is the active role the Federal government has taken
in promoting student achievement and careers in STEM (Science,
Technology, Engineering, and Math). These subject areas are critical to
laying the foundation for the next generation of innovators. Training
programs are also aligned with the Innovation Strategy as
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highlighted by successful support of past Defense Advanced Research
Projects Agency (DARPA) initiatives. The U.S. Small Business
Administration (SBA) is committed to gathering information from the
most knowledgeable sources in industry, academia, foundations, and non-
profits in order to focus our efforts on how the government can best
foster high-growth companies.
The SBA supports a wide array of entrepreneurial activity through
our District Offices, resource partners such as SCORE, Small Business
Development Centers, Women's Business Centers, Veteran's Business
Outreach Centers, and special initiatives offered in partnership with
multiple organizations. These publicly-supported services provide
valuable benefits to a full spectrum of communities and industries
across the United States. In many instances, SBA also works via
informal relationships through speaker engagements, conferences, online
resources, print material and other resources to support
entrepreneurial education.
B. Request for Information
Responses to this notice are not offers and cannot be accepted by
the Government to form a binding contract or issue a grant. Information
obtained as a result of this RFI may be used by the government for
program planning on a non-attribution basis. Do not include any
information that might be considered proprietary or confidential. The
SBA is interested in responses that address one or more of the
following topics:
Part I: With Respect to Entrepreneurial Mentorship
Successful Mentoring Models
1. What are successful mentoring models that exist today to serve
early stage, high-growth companies? (Responses may, but are not
required to, touch upon any of the following points.)
(a) How is mentoring targeted to high-growth companies different
from mentoring targeted to ``main-street'' companies?
(b) What are key factors for success?
(c) What is the current scope of mentoring services offered?
(d) Do the mentoring models vary by industry and/or by region?
(e) What is the duration of the mentoring relationship? Frequency
of meetings? Long-term support structure?
(f) How are seasoned entrepreneurs recruited to be mentors and what
incentives do they need (if any) to stay in a mentoring relationship?
(g) How are early-stage entrepreneurs recruited, and what factors
keep them engaged in the mentoring relationship? Do entrepreneurs tend
to enlist mentoring services on their own or through other channels
(e.g., referrals from investors, associations, etc.)? Are there any
criteria for these companies/entrepreneurs to participate in the
mentoring program?
(h) What are the characteristics of the mentors and new
entrepreneurs that gain the most from participating in a mentoring
relationship?
(i) What, if any, guidelines and regulations help ensure effective
mentoring relationships?
(2) Describe how mentoring services can complement any
comprehensive entrepreneur service strategy.
(3) What is the level of awareness surrounding successful mentoring
programs?
(a) What methods of outreach do these programs use?
(4) Please describe what types of mentoring programs have been less
than successful.
(a) To the best of your ability, please describe what were the
possible reasons or challenges that resulted in less than successful
results.
Success Metrics
(5) How do you measure success in an entrepreneurial mentoring
relationship?
(a) What are the relevant inputs, outputs, and outcomes for success
metrics?
(b) What is the time period needed to measure success?
(6) What is the track record of successful mentoring models that
you are aware of?
Program Expansion
(7) What are the constraints to scaling an entrepreneurial
mentoring program?
(8) What changes in public policy and research should the
Administration consider that would promote increased mentoring of high-
growth companies?
(9) Is there any other information regarding entrepreneurial
mentoring that would be helpful to the SBA?
Part II: With Respect to Entrepreneurial Education
Successful Educational Models
(10) What are the successful models for teaching entrepreneurship
to entrepreneurs preparing to launch high-growth companies? (Responses
may, but are not required to, touch upon any of the following points.)
(a) Are existing programs targeted for high school, college,
graduate, or mid-career professionals?
(b) At what stage in a company's lifecycle are educational programs
most effective and/or most utilized? (e.g., pre-launch, post-launch,
after reaching certain revenue targets, etc.)
(c) What is the primary vehicle to teach entrepreneurship? (e.g.,
one-on-one, group, online, bricks-and-mortar schools, self-paced, etc.)
(d) Which models have been adopted most widely?
(e) What is the track record of successful educational models that
you are aware of?
(11) What kinds of entrepreneurial education programs work best at
imparting entrepreneurial skills and knowledge?
(12) What is the level of awareness surrounding successful
educational programs?
(a) What methods of outreach do these educational programs use?
(13) How can existing educational programs be modified or augmented
to encourage increased adoption of entrepreneurial-focused curricula,
training, or experiential learning programs?
(14) Please describe what types of entrepreneurial education
programs have been less than successful.
(a) To the best of your ability, please describe what were the
possible reasons or challenges that resulted in less than successful
results.
Success Metrics
(15) What are appropriate metrics for evaluating the success or
failure of initiatives to promote entrepreneurship through educational
programs?
(16) What is the evidence that specific educational approaches and/
or curricula are successful?
(17) What metrics of success are used by the most successful
entrepreneurial education programs?
Program Expansion
(18) What are the constraints to scaling an entrepreneurial
education program to high-growth entrepreneurs?
(19) How can promising entrepreneurial education programs be
adopted more widely?
(20) What changes in public policy and funding should the SBA
consider that would promote increased entrepreneurial education?
(21) Beyond entrepreneurial education programs, what else can be
done to promote entrepreneurship?
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(22) Is there any other information regarding entrepreneurial
education that would be helpful to the SBA?
Harry E. Haskins,
Deputy Associate Administrator for Investment.
[FR Doc. 2010-13978 Filed 6-9-10; 8:45 am]
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