Startup America
In the State of the Union, President Obama set out his plans for America to out-innovate, out-educate and out-build the rest of the world.
Key to achieving this ambition is today’s launch of Startup America, a national campaign to promote entrepreneurship across the country.
Announcing the initiative, President Obama said:
“Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country. And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs. That’s why we're launching Startup America, a national campaign to help win the future by knocking down barriers in the path of men and women in every corner of this country hoping to take a chance, follow a dream, and start a business
“Startup America also represents a historic partnership with business leaders, investors, universities, foundations, and non-profits, and we're urging others to join them in this effort. For entrepreneurs speak to what's best about America, and in their drive and innovative spirit—in their willingness to take a risk on a bold idea—we can see the future. We can see how America will compete and win in the 21st century global economy.”
There are a number of new initiatives being announced as part of Startup America including:
- Proposing a permanent end to the capital gains tax on key investments made by small businesses;
- Supporting startups and small firms in lower-income communities with new tax credits and acting as guarantor for private sector investment;
- Working with veterans who want to start their own business;
- Promoting clean-technology startups through high-quality mentorships and reducing the time it takes to secure patents, helping new ideas reach the market place sooner; and
- Expanding existing programs that provide seed funding and mentorship to women entrepreneurs, college students, and startups in key cities, regions, and states.
These measures will support entrepreneurs in turning their great ideas into reality, spurring job-creation as startups and small businesses thrive and become successful, bigger businesses.
You can find out more about the Startup America campaign, including how to be involved, here.
