Startup America: The First 180 Days

Six months ago, we joined together at the White House in a room packed full of entrepreneurs, to celebrate the launch of Startup America.

• We said we would drive up to $2 billion in private investment into high-growth companies over the next five years, at no cost to taxpayers. Just last week, the U.S. Small Business Administration (SBA) announced the first Impact Investment Fund in Michigan, providing up to $130 million in capital to job-creating businesses throughout the state.
• We said we would use the tax code to incentivize more private investment in the early-stage companies that need it most. Now, the President’s budget includes a permanent, 100% exemption from capital gains taxes for investors in small businesses, and we have proposed new rules to simplify tax credits for investment in entrepreneurs revitalizing low-income communities.
• We said we would connect more entrepreneurs with experienced mentors. Now, we have launched new mentorship and education opportunities for thousands of cleantech entrepreneurs, military veterans and undergraduate engineers.
• We said we would travel the country to get first-hand input from entrepreneurs about how to reduce barriers. Now, we have completed an eight-city tour and we will soon release a report on the ideas we heard. We have already taken action to dramatically streamline requirements facing entrepreneurs in cleantech and telemedicine, as top Administration officials continue to hit the road to engage with young entrepreneurs, urban entrepreneurs and entrepreneurs in healthcare, cleantech and learning technology.