Senate Competition Bill would be Big Win for American Made Innovation

Washington, DC – The National Venture Capital Association commends Senate efforts to enhance America’s innovative startup ecosystem in the CHIPS Act of 2022.

“The technology commercialization programs included in the CHIPs Act represent a generational commitment to expand technology-focused economic opportunity to more regions and communities of the country,” said NVCA President and CEO Bobby Franklin. “If passed, the bill will put more Americans to work developing and producing critical frontier technologies that will make our country more competitive and improve national security.”

“We know that there are talented people spread across the country that are looking for opportunities to work in jobs and industries shaping the future. It is a primary reason we founded Venture Forward with a mission to increase access to the startup ecosystem. We are excited to see the emphasis on expanding entrepreneurial opportunities and stand ready to use our resources to support the implementation should the bill pass.”

Background:

The technology commercialization programs, such as the Technology Innovation and Partnerships Directorate, will support the commercialization of more technologies through entrepreneurship, new company formation, and growth. This emphasis will increase the impact of federal basic research by bringing more technologies out of the lab and finding their most significant potential to impact society. This is particularly the case when it comes to climate technology, where development and scaling of clean energy technologies are central to addressing the crisis.

NVCA has been a longtime champion of technology commercialization programs in the several versions of the Bipartisan Innovation Act. We look forward to working with policymakers to move this important legislation through Congress and to the president’s desk.

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About National Venture Capital Association
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.