The Ewing Marion Kauffman Foundation has awarded a research grant to Nobel Prize winner Edmund S. Phelps to fund a three-year study comparing entrepreneurship in the United States and Europe.

"Entrepreneurship and Innovation in Capitalist Systems," Phelps's project examining how different economic systems impact entrepreneurs, will study the impact of culture on economic performance, the different financing options and trends in Europe and the United States, and whether Europe needs more angel investors and venture capitalists, among other topics.

Phelps won the Nobel Prize in Economic Science in 2006. He also founded the Center on Capitalism and Society at Columbia University.

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