The National Venture Capital Association, fearful that the creation of broad rules shifting fees to the losers of patent lawsuits could make it harder for people to fund startups and create new gadgets, also opposes the bill.
Despite its good intentions to discourage abusive suits, the Innovation Act “would make patent enforcement so risky and expensive that it could dry up innovation in certain sectors,” Bobby Franklin, president of the trade association, said in a statement.
“Many innovative companies require strong patent protections to prevent others from copying their innovative ideas and will not survive otherwise,” Franklin said.
“We have and continue to reach out to as many members as we can, including leadership, and making sure that lawmakers understand the potential unintended consequences of this legislation,” said Bobby Franklin, president of the National Venture Capital Association, which argues the bill should do more to protect patent holders.
The National Venture Capital Association , which has been pushing to get venture capital firms and their portfolio companies to hire more diverse workforces, has found several new ways to attack the problem.
By diversity, the trade group means not just women, but also minorities, veterans, people with disabilities, and lesbian, gay and transgender people. All of these groups are underrepresented in venture firms and in startups, which tend to be run by white males.
“I know we have a long way to go, but everyone gets it,” said ScaleVP General Partner Kate Mitchell, who is co-chairing a task force on diversity that the NVCA launched in December.
The National Venture Capital Association, another critic of the House proposal, called the Senate bill an encouraging first step.
“While we remain concerned that the Innovation Act of 2015 introduced in the House could be harmful to the entrepreneurial ecosystem, the PATENT Act is an encouraging step in the right direction and we are eager to dig in and review the details with our membership,” the group said in a statement.
Kate Mitchell of Scale Venture Partners, who is serving as co-chair of the task force, said in an interview that the National Venture Capital Association is committed to “moving the needle on this.”
“Silicon Valley is about solving hard problems and this is a hard problem,” she said. “We have to acknowledge that this is only a first step. We have to make a long-term commitment.”
By targeting solutions to help foreign-born entrepreneurs build their businesses in the U.S., President Obama has made clear he understands the important role the entrepreneurial ecosystem plays in our economy,” said Bobby Franklin, president of the National Venture Capital Association.
Corporate venture capital investments totaled $3.1 billion last year, well more than double the amount companies invested in startups in 2008, when the recession put a damper on corporate V, according to data compiled by PricewaterhouseCoopers and the National Venture Capital Association…
“A lot of corporations have cash on the balance sheet and are looking to deploy that,” said Bobby Franklin, president and CEO of the National Venture Capital Association.
Last year, Bobby Franklin became president and CEO of the National Venture Capital Association in Washington, D.C. On Tuesday, over croque-monsieurs in San Francisco, we talked about the battles he’s been trying to win since for VCs and, increasingly, he says, entrepreneurs.
To say that Franklin’s job is complicated is kind of understating things. Still, we gather that Franklin — formerly an executive VP at a wireless communications lobbying group — is up to the challenge. Our chat with him has been edited for length.
“The U.S. government should ensure that entrepreneurs do not face arbitrary roadblocks that limit their potential to build products and services on the Internet,” National Venture Capital Association President Bobby Franklin said. “If the FCC were to allow this, it would create a competitive advantage for well-established companies while disadvantaging entrepreneurs.”
A survey by the National Venture Capital Association and Deloitte & Touche LLP shows that investors are most confident about startups in cloud computing and software-as-a-service, two sectors that involve minimal capital costs. The 10th annual worldwide study measured confidence in investment through 331 interviews among venture capitalists, private equity and growth equity investors around the world.