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Introducing the Bipartisan Startup Act

Thom Ruhe, Director of Entrepreneurship, The Kauffman Foundation

Regardless of any party differences in Congress, Democrats and Republicans alike know that ‘entrepreneurs=recovery.’ U.S. Senators Jerry Moran (R-Kansas) and Mark Warner (D-Virginia) introduced bipartisan legislation yesterday to jumpstart the economy by creating and growing new companies—and they backed it up with Kauffman data.

Armed with the fact that nearly all net job creation comes from companies less than five years old, Senators Moran and Warner presented the The Startup Act. The basic principles behind the legislation are based on Kauffman’s extensive research and analysis on the impact of startups and policy reforms that would make it easier for new firms to start and grow. If it’s enacted, The Startup Act’s five-pronged approach would help entrepreneurs create jobs by:

  1. Reducing regulatory burdens
  2. Attracting business investment
  3. Accelerating the commercialization of university research
  4. Attracting and retaining entrepreneurial talent
  5. Encouraging pro-growth state and local policies

Back in February I participated in President Obama’s Winning the Future Forum on Small Business. After engaging in a day of inspiring and engaging dialogue around how the government can help small businesses, I remembered thinking that I hope our country—from communities around the nation to those in the nation’s capital—can sustain its energy and interest around entrepreneurship. The Startup Act is a proof point to me that our government certainly is.

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