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How Do We Make More Entrepreneurs More Successful?

Kauffman Foundation's Latest Animated Sketchbook Video Illustrates the Importance of Finding the 'Magic Sauce' for Firm Success (October 17, 2011)

KANSAS CITY, MO -- (Marketwire) -- 10/17/11 -- If the best indicator of a country's growth is the number of new firms started every year, as Kauffman Foundation research indicates, how do we get more companies to start and grow? What's the magic sauce?

That's the subject of the latest animated video in the Kauffman Sketchbook series released today. In "Magic Sauce," Kauffman President and CEO Carl Schramm points out that nearly 700,000 new businesses start every year, but the failure rate is high and many of them are not creating jobs. Schramm asks, "How do we make those firms more successful at the outset?"

The three-minute video goes on to outline the issues that the Kauffman Foundation is studying to learn how to help more entrepreneurs become more successful. "We do a lot of research, because if you don't get the story right, you'll get the solution wrong," Schramm says.

To view the Magic Sauce Sketchbook, visit

About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. In addition, the Foundation focuses on initiatives in the Kansas City region to advance students' math and science skills, and improve the educational achievement of urban students, including the Ewing Marion Kauffman School, a college preparatory charter school for middle and high school students that opened in Fall 2011. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit, and follow the Foundation on and

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Media Contact:
Barbara Pruitt
Kauffman Foundation

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