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G-20 MEMBERS113Goods developed, mass-produced and then shippedaround the world. Organisations growing slowly andcoming to dominate markets for years to come.But in recent decades, that pattern has been blownapart. There has been a surge in new, young, high-growth, highly innovative firms. It was not long ago that Apple, Cisco and Google didn't even exist - now each one has a market value of over US$100 billion. Skype, Facebook and Twitter have generated billions of dollars and reached a global scale more quickly and with lesscapital than any companies before. And the mostinnovative firms are growing twice as fast, both interms of employment and sales, than those that fail to innovate. The impact this change is having on our economiclandscape is unprecedented. In 1950, the average lifeof a company in the S&P index was forty-seven years.By 2020, it will fall to just ten years. And today, many more of our jobs are dependent onnew, young and dynamic businesses. It is astonishingto think that between 1980-2005, nearly all net jobcreation in the United States occurred in firms lessthan five years old.And here in Britain, just six per cent of UK businesses are high-growth but they generated overhalf of the net employment growth between 2005 and 2008. All this has massive policy implications for government. To build that new dynamism in our economy, to createthe growth, jobs and opportunities Britain needs wehave got to back the big businesses of tomorrow, notjust the big businesses of today.That means opening up access to finance, creating anattractive environment for venture capital funding,getting banks lending to small businesses again andinsisting that a far greater proportion of governmentprocurement budgets are spent with small andmedium-sized firms. And in the days and monthsahead we will be setting out our plans in all these areas.But today I want to focus on two elements of ourapproach in particular. One is helping to bridge the gapbetween innovation and commercial success.The factis that we are not as good as some of our competitors inturning great ideas on the drawing board intoprototypes in a laboratory and actual goods andservices people can buy. That is why I can announce today that we will investover £200 million in Technology and InnovationCentres over the next four years. These centres will sitbetween universities and businesses, bringing the twotogether. They will not just carry out their own in-houseresearch, they will spread knowledge too connectingbusinesses - large and small, new and old - topotential new technologies, making them aware offunding streams and providing access to skills and equipment.It is the sort of thing you see in Orgreave, where theUniversity of Sheffield, Rolls Royce and Boeing are allworking together or in Germany, where their FraunhoferInstitutes have been crucial in developing the MP3 licence. These centres will be great for research, great forbusiness - and they are going to put Britain back at thetop table for innovation. nThe above article is extracted from a speech "Creating a New Economic Dynamism" the Prime Minister David Cameron delivered at theConfederation of British Industry's annual conference in London on 25 October 2010.http://www.number10.gov.uk/news

e have been fighting on all fronts - inch byinch, foot by foot, mile by mile - to getthis country moving forward again, andgoing after every single job we can createright here in the United States of America.We have been through a terrible recession - the worstthat we have seen since the Great Depression. And thisrecession was the culmination of a decade that fell likea sledgehammer on middle-class families. For thebetter part of 10 years, people were seeing stagnantincomes and sluggish growth and skyrocketing healthcare costs and skyrocketing tuition bills, and peoplewere feeling less secure economically. Yes, times are tough. But we have been through toughtimes before. And we have made it through because weare resilient - Americans are resilient. We do not givein to pessimism; we do not give in to cynicism. We fightfor our future. We work to shape our own destiny as a country. So we are investing in the 21st century infrastructure- roads and bridges, faster Internet access, high-speedrailroads - projects that will lead to hundreds ofthousands of private sector jobs, but will also lay thegroundwork so that our kids and our grandkids cankeep prospering.And at the same time what we have been trying to do isto jumpstart a homegrown, clean energy industry. AndZBB [Energy Corporation] is also planning to takeadvantage of a special tax credit to build anotherfactory in southeastern Wisconsin, so we can createeven more jobs and more opportunity. And all this ispart of steps we have taken in clean energy - steps thathave led to jobs manufacturing wind turbines and solar panels, building hybrid and electric vehicles,HOMEGROWN CLEAN ENERGY WILL JUMPSTARTTHE ECONOMY114G-20 MEMBERSBARACK OBAMA, PRESIDENT, UNITED STATES OF AMERICAWPhoto: Official White House Photo by Pete Souza