Today, the White House announced administrative and private sector actions that will help entrepreneurs grow their businesses and create jobs by increasing their access to capital and resources. The U.S. Small Business Administration (SBA) is moving forward with launching a $1 billion Early Stage Innovation Fund, originally announced as part of Startup America, which will provide matching capital to Small Business Investment Companies (SBICs), targeting early-stage small businesses seeking private institutional capital. Today, the White House is also hosting the first board meeting of the Startup America Partnership, where board members will announce commitments from more than 50 private-sector partners to deliver over $1 billion in value – from free software to free consulting and legal services – to 100,000 startups over the next three years. The President also renewed his call for Congress to work on a bipartisan basis to develop ideas from his American Jobs Act plan that will help our small and growing businesses access capital while continuing to protect investors. Specifically, the President has called for increasing limits on “miniofferings,” allowing “crowdfunding,” and phasing in some requirements for small firms as they go public.
Let’s check back here on this post in 3 years and see how it worked out.