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.,
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
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.