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Member News: National Entrepreneurship and C.C. News

In 2011, Entrepreneurs Snag Victories in Washington

Friday, December 30, 2011   (0 Comments)
Posted by: Kristina Moy
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By Kent Hoover, Portfolio.com

Despite the partisan bickering that kept Congress from accomplishing much in 2011, small businesses and entrepreneurs managed to eke out a few victories in Washington, D.C., this year.

Startup America launched
Launched with great fanfare in January
, Startup America is a joint effort between President Barack Obama’s administration and the private sector to promote entrepreneurship in the United States.

The Startup America Partnership already has received hundreds of millions dollars' worth of commitments from private-sector companies for entrepreneurial education, training, and mentorship programs.

On the government side of this effort, the Small Business Administration recently proposed rules for a new venture capital program that will target early-stage companies. Roundtables held around the country as part of the Startup America initiative also generated ideas that got the attention of the president—including legislation to make it easier for new ventures to use crowdfunding to raise capital. That bill, which Obama endorsed, passed the House this year.

Perhaps most importantly, the Startup America initiative brought attention to the fact that not all small businesses are created equal—innovative firms with high-growth potential deserve special attention because they’re the ones that create the most new jobs.


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