Startup America – President Obama’s Bold New Innovation Strategy

Startup America is a coordinated public and private effort to help startup companies survive and overcome the “Valley Of Death” – a series of problems that startups face which could prevent them from succeeding.The program is open to all kinds of startup businesses, not just tech startups.

President Obama announced the launch of this initiative in his State Of The Union address on January 25th, 2011.

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Goals Of The Startup America Innitiative

Austan Goolsbee – Chairman of the Council of Economic Advisers – breaks down the goals of the Startup America initiative into 4 different components¬† – created, managed and overseen by the Federal Government –¬† that are designed to help Startup companies cross over the “Valley Of Death” and become successful, foster American innovation and create new jobs.

  1. Getting Startups The Access To Capital: The Federal Government is putting in an extra 2 billion dollars of matching funds for VC and other Private Sector Investors who are trying to get money to people trying to get their startups off the ground.
  2. Review and Reform Regulatory Barriers: Startup America will identify where there is difficulty in dealing with regulations, where they are particularly costly or particularly intrusive on their operations and look at them closely.
  3. Create Mentors Program To Help Startups: Real business mentors will be brought in to help startups with the kind of business knowledge and advice that they need to grow.
  4. Provide Tax Relief and Incentives For Startups: President Obama has already cut taxes for Small Businesses and Entrepreneurs 17 different times. One of the tax cuts sets the capital gain to ZERO for people starting their own businesses.

It remains to be seen how this shakes out, but I believe this is a great strategy by President Obama to create new jobs and foster American Innovation in this Global Economy!

Keep Track Of Startup America

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