Today, U.S. Secretary of Commerce Penny Pritzker participated in an armchair discussion with 1776 cofounder Evan Burfield to discuss the U.S. economy, entrepreneurship, and the one-year anniversary of the Commerce Department’s “Open for Business Agenda.” Located in Washington, DC, 1776 serves as a global hub that connects startups tackling challenges in education, energy, health care, government and other industries with the resources they need to excel. 

Last November at 1776, Secretary Pritzker outlined the” Open for Business Agenda,” a bold policy priorities framework for the Department of Commerce, centered on the tools needed for U.S. economic growth. It is focused on U.S. trade and investment, innovation, data, environmental intelligence, and operational excellence, and this agenda reflects the Department’s role as the voice of business, as well as the Obama Administration’s keen focus on economic growth and job creation.

In light of Global Entrepreneurship Week which begins today, Secretary Pritzker highlighted the Department’s focus on entrepreneurship as an important tool for economic growth in the United States and across the world. As the Administration’s point person on entrepreneurship and chair of the Presidential Ambassadors for Global Entrepreneurship (PAGE) initiative, Secretary Pritzker will help lead the American delegation at the Global Entrepreneurship Summit (GES) in Morocco this week. At GES, the Secretary will promote the importance of global entrepreneurship and support foreign entrepreneurs. She will also stress that entrepreneurship is gender neutral when she speaks during Women’s Entrepreneurship Day on November 19.

On a more personal note, Secretary Pritzker offered advice to entrepreneurs, recommending that they should not be afraid of failure. As a founder of five companies, she understands that sometimes failures are necessary to achieve success and that resilience matters.

1776 cofounder Evan Burfield also asked Secretary Pritzker to talk about her favorite entrepreneur. She mentioned that the entrepreneurs she meets both at home and abroad – from Saudi Arabia to Japan – inspire her with their continual enthusiasm and desire to improve the world.  She specifically mentioned a young Ghanaian entrepreneur named Ethel Cofie who started an IT services firm as someone that inspires.  Secretary Pritzker also considers Daphne Koller, co-founder and president of Coursera and a PAGE Ambassador, an example of how great ideas can come at any age. Koller founded the online education platform when she was 44 and a Stanford University professor.   

During the conversation, Secretary Pritzker underscored the Commerce resources available to existing business. She also provided a full framework of what each Commerce bureau does – from the National Telecommunications and Information Administration (NTIA) that controls digital policy and the National Oceanic and Atmospheric Administration (NOAA) that is responsible for the health of America’s coastlines, to the U.S. Patent and Trademark Office (USPTO) which protects intellectual property and provides patents to budding entrepreneurs.

In addition to innovation, data and trade are major pillars of the “Open for Business Agenda.” The Commerce Department is working to unleash more of its data to strengthen the nation’s economic growth. In fact, the Department is in the process of hiring the first-ever Chief Data Officer, and the deputy Chief Data Officer began work today. They will develop and implement a vision for the future of the diverse data resources at Commerce and put them to work for America’s businesses.

As for trade and investment, the International Trade Administration, which is a part of the Commerce Department, helps businesses take their products abroad through export assistance centers that are located nationwide. Furthermore, Secretary Pritzker says that passing trade promotion authority, the Trans-Pacific Partnership (TPP), and Transatlantic Trade and Investment Partnership (TTIP) are at the top of the economic agenda.

With such an interconnected global economy, Secretary Pritzker believes there are many reasons to celebrate the status of the American economy. Among many successes, Secretary Pritzker discussed how since President Obama came to office that the United States has created more jobs than Europe, Japan, and all other advanced economies combined. She then talked about how we need to keep the economy growing through investments in infrastructure, skills development, minimum wage and other priorities.  She also talked about the positive impact of healthcare coverage and how it helps address job lock.

One year later, Secretary Pritzker highlighted there is still work to be done, but the Commerce Department is committed to working to set the conditions for a vibrant, 21st century economy and the good jobs that come with it, ensuring that the world knows that America is open for business.