President Barack Obama meets with Aaron Horowitz and Hannah Chung, Providence, R.I., of Sproutel as he hosts top innovators and startup founders from across the country for the first White House Demo Day, Aug. 4, 2015, in the State Dinning Room of the Whi
President Barack Obama meets with Aaron Horowitz and Hannah Chung, Providence, R.I., of Sproutel as he hosts top innovators and startup founders from across the country for the first White House Demo Day, Aug. 4, 2015, in the State Dinning Room of the White House in Washington. Chung holds Jerry the bear is a smart stuffed animal with educational apps that help kids build healthy behaviors centered on nutrition, exercise, sleep, and mindfulness. Andrew Harnik, Associated Press

By Associated Press

WASHINGTON — President Barack Obama says underrepresentation of women and minorities among the nation's startups is hurting business.

Obama says the next big idea could come from anyone and that the next Steve Jobs could be named Stephanie or Esteban. Jobs is the late co-founder of Apple.

Obama commented Tuesday as the White House showcased the work of more than 30 startup teams of women, minorities and young people. Their exhibits range from early-stage technology to consumer products.

The White House says about 3 percent of U.S. startups backed by venture capital are led by women. About 1 percent are headed by African-Americans.

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Obama toured several exhibits at the White House and told the entrepreneurs to remember that he'll be looking for a job in about 18 months.

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