All the recent press and coverage of the new White house program Startup America has certainly had a positive impact on the state of innovation and entrepreneurship in America. For those who haven’t seen the Austan Goolsbee, Chairman of the Council of Economic Advisers video on the program click here.
For those who are unfamiliar, although if you are reading this, I would be surprised, the administration announced Monday the creation of the “Startup America Partnership,” an initiative aimed at creating new jobs and industries of the future by promoting high-growth entrepreneurship and innovation across the country. Steve Case, co-founder of AOL was named leader of the initiative today. Key parts of the initiative include tax breaks for certain small businesses, access to capital through the SBA program for funds who are investing in high growth businesses, mentoring from private and public organizations to companies and promises to clear out red tape at the governmental level to help reduce burden on small busiensses.
We agree with others that the overall commitment by the administration is a very positive and much needed boost to innovation. We will remain very supportive of the underlying components as well. We will however, continue to monitor the program from the ground up and hope it wont find its own political morass. We have been preaching the innovation and entrepreneurship message as a defining moment for the US now for many years. We still have a leadership position in this “industry”. Very few out innovate us. Even fewer can create the kinds of successful company stories that we have in the past 40 years. The fact remains however, that we must try to remove all barriers to an outright innovation nation. We must tackle some tough issues that will still prevent this from full exposure. The startup visa and immigration reform, creation of innovation zones in many states, tightening of our IP protections, grants for continued research and development, easing and elimination of subsidies on corporate protections (oil and corn) and the creation of those for the investing in tomorrows jobs (clean energy). I could go on.
This is a great start and we applaud and support the movement. Lets follow through and make sure this is a defining moment. We will be watching and eager to participate.