Support for Startup Act grows

Support for the recently introduced Startup Act continues to build across the country. The legislation, profiled earlier in the Digest, would accelerate the commercialization of university research, improve the regulatory processes at the federal, state and local levels, and modernize a critical Economic Development Administration (EDA) program to promote innovation and spur economic growth. The legislation also creates both entrepreneur and STEM visas for highly-educated individuals so they can remain in the U.S. legally to help fuel economic growth. Senators Jerry Moran (R-Kan.) and Mark Warner (D-Va.), along with Senators Roy Blunt (R-Mo.) and Amy Klobuchar (D-Minn.) have received support from SSTI and a number of other groups, including the Ewing Marion Kauffman Foundation, National Venture Capital Association (NVCA), the Kansas City Chamber of Commerce, and Engine.

In a press release from Moran’s office, comments from organizations heralded the act’s potential to grow the economy and create jobs:

• “Too many have been left out of our economy. There’s a connection between the long-term decline in entrepreneurship and the effect on productivity, growth and wages. Put simply, fewer startups means a lower quality of life for all Americans. We need more startups, fast.” - Jason Wiens, director of policy, Ewing Marion Kauffman Foundation
• "On behalf of our nation’s venture capital investors and the entrepreneurs with whom they partner, I write in enthusiastic support of the Startup Act. Your continued dedication to promoting entrepreneurship is commendable, and we stand ready to help you advance your legislation. From one Congress to the next, the Startup Act has proven to be an effective platform for advancing pro-startup policy....” - Bobby Franklin, president and CEO, National Venture Capital Association (NVCA)
•  “Legislation that contains forward thinking immigration policies, research policies, and federal funding programs like this bill will help boost the U.S. startup ecosystem while adding jobs and economic growth.” – Engine, the Voice of Startups in Government
• “Our country has a number of assets that are yet to be taken fully advantage of in the effort to grow regional economies and create jobs. The Startup Act leverages these assets so that more research will get off of laboratory shelves, more entrepreneurs will succeed in creating new businesses and jobs, and we will have a better prepared workforce.” – Dan Berglund, president and CEO, SSTI

To learn more about the bill and to find out how you can encourage your delegation to support the Startup Act, contact SSTI today at 614-901-1690 or contactus@ssti.org.