NVCA Supports Legislation to Increase Access to Capital for Women Entrepreneurs

ARLINGTON, VA – The National Venture Capital Association (NVCA) today offered its support for the Women’s Small Business Ownership Act of 2014. Introduced today by Senator Maria Cantwell (D-WA), the bill focuses on promoting women-owned small businesses through small business counseling, federal contracting opportunities and greater access to capital.

“The venture capital community is committed to identifying and implementing solutions to provide women in the startup community with greater access to capital,” said Bobby Franklin, President and CEO of NVCA. “This bill creates more opportunities for women to access the early-stage capital necessary to launch groundbreaking companies that disrupt entrenched industries and bring innovative products and services to market. We applaud Senator Cantwell for her leadership in taking this critical step to ensure the innovation economy better represents women entrepreneurs.”

“In the venture community, we know from experience that women drive economic growth and job creation by building capital-efficient companies that create game-changing products and services,” said Maria Cirino, Co-Founder and Managing Director of .406 Ventures and NVCA Board of Director and Member of the Executive Committee. “I strongly support reducing obstacles to innovation and growth in our economy.  Senator Cantwell’s legislation creates greater opportunity for more women entrepreneurs to build the companies that make the U.S. a global leader in innovation.”

The Women’s Small Business Ownership Act of 2014 includes a “Sense of the Senate” supported by NVCA expressing support for venture capital and angel investors as an important source of capital for women entrepreneurs.