FOR IMMEDIATE RELEASE
March 13, 2023
Contact: Robin Ceppos
WASHINGTON, DC – On behalf of startup communities across the country, the National Venture Capital Association (NVCA) expresses our deep appreciation for the bipartisan leadership we witnessed during this weekend’s crisis as many of America’s most innovative companies experienced unique turbulence. The joint efforts by the Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation, and bipartisan members of Congress provided stabilization for hundreds of thousands of American workers and companies that were facing an acute payroll crisis this morning.
Startups all across the country are still impacted by these events and continue to face immediate, medium, and long-term challenges. The startup ecosystem is critical to the country’s economy and innovation. This is a pivotal chapter that will impact the fate of many ground-breaking companies of tomorrow, including companies in all 10 key technology focus areas as defined by the CHIPS and Science Act.
Lack of action would have had far reaching consequences for the global competitiveness of the U.S. economy, our national security posture, and the energy transition. We appreciate this leadership and look forward to continuing to execute our role as a convening force between policymakers and the startup community.
The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about the NVCA, please visit www.nvca.org