...A key finding of the ACS Presidential Task Force report “Innovation, Chemistry, and Jobs” (www.acs.org/creatingjobs) was that start-ups and small to medium-sized companies create about 3 million jobs per year, in contrast to the 2.5 million that are lost in large companies. It’s clear that the role of the entrepreneur in job creation is not only essential but also has been the key to robust economic growth, even in times of recession. In the middle of the deep downturn of 1973–74, the following companies were start-ups: FedEx, Microsoft, Oracle, and Southwest Airlines....Does anyone else find it ironic that an essay on the glory of startups and small companies was written by someone who's spent a 40+ year career in corporate America (Roche, DuPont, BMS, DuPont)?
Wednesday, March 5, 2014
From the pages of this week's C&EN, member of the ACS Board of Directors Pat Confalone on innovation and entrepreneurship: