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{{McNair Projects|Project Title=Current Entrepreneurship and Innovation Policies (Wiki Page)|Topic Area=Social Factors in Entrepreneurship|Owner=Veeral Shah,|Start Term=Summer 2016|End Term=TBD|Status=Active|Deliverable=Wiki Page|Audience=General Public|Skills Needed=Writing I|Primary Billing=Dr. Edward Egan}}
*'''California''' -
@article{brander2015effects, title={The effects of government-sponsored venture capital: international evidence}, author={Brander, James A and Du, Qianqian and Hellmann, Thomas},<includeonly> journal={Review of Finance},[[Category: McNair Projects]] volume={19}, number={2}, pages={571</includeonly><!-- flush --618},> year={2015},[[Category: Public]] publisher={Oxford University Press}}[[Public Classification: Legislation| ]]
Current Entrepreneurship and Innovation Policies (view source)
Revision as of 17:00, 21 September 2020
, 17:00, 21 September 2020Ed moved page Current Entrepreneurship and Innovation Policies (Wiki Page) to Current Entrepreneurship and Innovation Policies
==Abstract==
Out of the 7430 bills in total proposed in the 114th Congress of 2015-2017, there were 103 bills either related to entrepreneurship or innovation or containing the specific word, "entrepreneurship". Several of these bills have [[The Bill Process|led to acts and policies]] that have had a significant impact on the present and future outlook of entrepreneurship and innovation in the United States.
===Federal Policy===
Several policies affecting small businesses and entrepreneurship have been discussed in Congress. The following is a summary of some acts and policies that have a significant impact of entrepreneurship in the United States. A comprehensive list of policies on entrepreneurship reports by the Senate Committee on Small Business and Entrepreneurship can be found [[Acts Reported on by the Senate Committee on Small Business and Entrepreneurship | here]].
*The '''Small Business Innovation Research (SBIR)''' program<ref name="kauffman" /> was introduced by the U.S. Congress in the early 1980's to enhance long term growth among small businesses. It is currently coordinated by the Small Business Administration (SBA). They offer grants to small businesses (typically with 25 or less employees) to financially boost the company's outlook and additionally assign the company's a sign of quality which consequently starts to attract further external investments. Academic research has shown that SBIR awards significantly increases the likelihood of subsequent venture capitalism funding in future years. There additionally has not been many indicators of SBIR grants crowding out private investors because the program targets small businesses with researched potential that informs private investors on the quality of upcoming startups. Research and data analysis of the effects of SBIR are highly in favor of the view that the program enhances entrepreneurship, innovation, and the venture capital industry in the United States.
*The '''Jumpstart Our Business Startups (JOBS) Act of 2012''' was enacted to provide looser security regulations for entrepreneurs and investors to allow for more funding and potential for success for startup businesses. Two specific provisions of the act are especially impactful for small businesses: Title II and Title IV. Title II indicates the increase in the number of potential investor that a company can communicate with in order to acquire funding. Title IV allows investors to put almost 10 times more funds into companies with much less restricted investing requirements.<ref name="kauffman" />
*The '''Helping Angels Lead Our Startups (HALOS) Act''' simplifies the process by which startup companies can publicly attract investors by allowing these startups to pitch their businesses in areas in which every person in attendance is not necessarily an accredited investor. In addition, the act clarifies the definition of an angel investor group. To be considered as an official angel investor group, an entity must be made of primarily accredited investors that want to invest personal capital into early-stage startup companies, must have a structured meeting and procedural outline, and must not be associated with any other investment advisers or brokers.
===State and Local Policy===
====General Policy====
*State and local governments often create a link between new businesses and research universities in the area.
*'''Tax incentives''' for investing in startup companies in specific areas of research have been created by several states. Over 20 states have created policies to award tax credits for angel investors. Some other states tax credits for firms investing in specific qualified startup companies.
====Specific State Policy====
*'''Florida''' - The Florida Growth Fund was formed in 2009 to increase innovative development and growth in Florida. Experienced investment professionals manage the $750 million fund through either committing to an investment partnership with private equity funds or co-investing directly into companies alongside another fund manager.
*'''Wisconsin''' - The Qualified New Business Venture program (Angel Investment Program) was formed by the Wisconsin state government in 2003. The program works by designating startup businesses in Wisconsin in the early stages of innovative development as QNVBs. When qualified venture capital firms and angel investors give funds to these startups, the QNVBs would receive a 25 percent tax credit on the amount of the investment.
===Regional Cluster Policy Currently in Review===Regional cluster policy targets startups to encourage and assist the formation and growth of the companies. These policies do this by typically instigating the transfer of knowledge across numerous organizational boundaries. Often these boundaries are organized in a manner where opportunities for startup companies, universities, and firms overall are optimized. *'''Silicon Valley''' - Several computer technology companies emerged in this part of California in the late 1990s. This led to an abundance of opportunities for entrepreneurs to form their own startup companies. This exponential increase in startups subsequently led to numerous venture capital firms moving to Silicon Valley. More and more startups and VC firms continued to move into Silicon Valley, creating the innovative "cluster" in the area. With the help of nearby research institutions and universities, particularly Stanford University and the University of California at Berkeley, Silicon Valley blossomed into one of the premiere innovative concentrations in the world.
*Investment Advisers Modernization Act '''Route 128''' - Influenced by academia, industry, and government, Boston's Route 128 has become a prime geographical area for entrepreneurship and innovation. With the resources available at nearby institutions like Harvard College and The Massachusetts Institute of 2016Technology, as well as through the federal funding given to encourage innovation and research, Route 128 has become one of the most prolific clusters for innovation and policy in the country.
*SEC Regulatory Act '''Research Triangle Park''' - The Research Triangle of 2016North Carolina was formed to take advantage of three of the state's big universities, UNC Chapel Hill, NC State, and Duke, to create a zone in North Carolina where startups, research, and innovation all thrive. This triangle allows for startups to be immediately put in an area with the resources and support to succeed as well as the opportunities for research needed to thrive.
*Proxy Advisory Firm Reform Act of 2016'''Confluence Water Technology Innovation Cluster''' - Ohio, Northern Kentucky, and Southeast Indiana have obtained support from the EPA and SBA to collaborate to establish the Ohio River Valley region as a global leader in innovation by attracting the best entrepreneurs and innovators and by creating and attracting jobs and investment.
==Innovation==
http://www.whiteandwilliams.com/resources-alerts-HALOS-Act-Provides-Clarification-on-General-Solicitation-Under-Federal-Securities-Laws.html
http://www.netvalley.com/silicon_valley/Silicon_Valley_and_Route_128.html
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