Global Development and Foreign Aid - US Department of State

Global Development and Foreign Aid

Companies Find Advantages in Moving Near Fiercest Competitor

Locating business competitors together, which might seem counterintuitive, helps an entire industry to succeed, according to many economic development experts. This strategy increases business innovation and boosts wages, according to Michael Porter, a business cluster expert and professor at Harvard University. USINFO talks to advocates of business clusters and looks at initiatives in business clustering. (complete text)

Venture Capital Is Key To Making Innovative Ideas Succeed

Innovation stems not just from a great new idea and hard work. Capital investment -- money -- also is needed, and banks are not usually willing to finance high risk ventures. That's where the venture capitalist comes in. "Venture capital is largely responsible for the commercialization of many modern innovations that would have otherwise not made it out of the labs of scientists and the minds of entrepreneurs," says Emily Mendell, National Venture Capital Association vice president. (complete text)

Rice Urges Donors To Join in Supporting Palestinian Authority

Nations must match their commitments to Middle East peace made at the November 27 Annapolis Conference with financial contributions for creating a future Palestinian state, says Secretary of State Condoleezza Rice. “Words and promises of support are helpful, but that alone is insufficient. Progress requires action, and it requires tangible financial assistance,” Rice says during a high-level international donors' conference in Paris, during which nations and organizations pledge $7.4 billion in assistance to the Palestinians. (complete text)

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