Entrepreneurship Training: A Strategy for American Innovation
The Workforce Innovation and Opportunity Act, signed by President Obama, and administered by the U.S. Department of Labor includes an increased emphasis on entrepreneurship skill building for youth, individuals with disabilities, Indian and Native Americans, and unemployed adults and includes new provisions to allow training resources for entrepreneurship training.
These new provisions will allow the public workforce system to more systematically train youth and adults who are out of work to start their own businesses.
Supporting Entrepreneurship Skill-Building through Workforce Training Programs
In addition to the formula-funded programs under WIOA, entrepreneurship training is supported by discretionary grants. The Workforce Innovation Fund’s performance is measured in terms of outcomes for job seekers and employers, and in terms of cost effectiveness.
Newer programs backed by less evidence are eligible for less funding, whereas more sizable grants to proven programs make possible the wider-scale expansion of these models. The Department of Labor in 2013 established and formalized a policy that requires rigorous, independent and transparent evaluations in all of its discretionary grant programs.
Whitehouse Report on A Strategy for Innovation
The Whitehouse released a report entitled, "A Strategy for American Innovation," in which it highlights the importance of entrepreneurship support and training for economic development and innovation.