While partnerships must include academic institutions and private sector organizations, the involvement of state and local governmental entities is strongly encouraged. There is a ten percent cost sharing requirement for all selected projects. Awards generally supported two types of projects, those assisting communities in developing the necessary infrastructure to encourage innovation and those projects focused on a specific technology area. Understanding How Businesses Start and Grow is being released to educate policymakers about the vitally different characteristics of entrepreneurs and traditional small business owners. The report also sets out key policy implications based on these different characteristics.
Entrepreneurs take wild, uncalculated risks to start their companies.
Entrepreneurial companies are all based on high tech breakthroughs. Rather they tend to make smaller innovations to products or processes and then perform exceedingly well. As companies fund research and make discoveries, they tend to develop breakthrough technologies. Founders of entrepreneurial companies are experienced experts in their fields. Entrepreneurs with little expertise in their fields have started many of the most successful companies.