FOR IMMEDIATE RELEASE
April 21, 2021
Contact: Devin Miller
WASHINGTON, DC – The National Venture Capital Association (NVCA) was thrilled to see the reintroduction of the bipartisan Endless Frontier Act by Senators Chuck Schumer (D-NY) and Todd Young (R-IN). The Endless Frontier Act would solidify U.S. leadership in innovation by renewing government commitment to federal basic research investment and offering a range of tools to support the successful transition of technological concepts from a lab into innovative products that can succeed in the marketplace.
The bill leverages public-private partnerships to provide increased investment in early research, education, training, facilities, and entrepreneurship to support the U.S. leadership position in key emerging technologies. The legislation makes commercializing these technologies through new company formation a priority for many of the programs, a critical activity for developing emerging startup ecosystems and spreading opportunity across the country.
“The Endless Frontier Act is a bold, bipartisan proposal that will grow the American economy and increase economic opportunity by enhancing American innovation capacity,” said Bobby Franklin, President and CEO of NVCA. “If effectively implemented, this legislation will meaningfully increase federal basic research investment and technology commercialization activity, improve our nation’s long-term economic competitiveness, create new industries and high-quality 21st century jobs, and increase economic growth in communities across the country. We thank Senator Schumer and Senator Young for recognizing the venture capital industry’s importance in achieving our shared goals of prioritizing the nexus between technological progress and new company formation to advance economic opportunity. We look forward to working with policymakers to move this important piece of legislation through Congress.”
You can read NVCA’s letter of support here.
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 US 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 NVCA, please visit www.nvca.org.