Innovation and Entrepreneurship
a. We have a lot of innovation in America. Ideas proliferate. What’s lacking are great new business models that allow us to monetize those ideas.
b. Innovation must be bridged to the customer by the entrepreneur. And the entrepreneur builds that bridge by using a sustainable business model. Worldwide, the U.S. has commercialized 30-40% of the business breakthroughs for about as long as it’s been around as a nation. Henry Ford did not invent the car; rather, he commercialized and mass produced it. He created the business model to make it work. However, entrepreneurs are rare birds and need to be supported and developed because they create the all important jobs that people want and need.