“Startup America” is a White House initiative to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation. This coordinated public/private effort brings together an alliance of the country’s most innovative entrepreneurs, corporations, universities, foundations, and other leaders, working in concert with a wide range of federal agencies to dramatically increase the prevalence and success of America’s entrepreneurs.
The act removes some limitations on Internet-based or "crowd-funded" investments. It also eases restrictions on public stock offerings by creating a category for "emerging growth companies." Such companies with less than $1 billion in annual revenue are exempt from several Securities and Exchange Commission regulations.
This mission to promote entrepreneurship is a core component of President Obama’s national innovation strategy for achieving sustainable growth and quality jobs. Not only do startups bring a wealth of transformative innovations to market, they also play a critical role in job creation across the United States.
Unlocking capital: This spring President Obama signed the Jumpstart Our Business Startups (JOBS) Act (http://wh.gov/QBy), a bipartisan bill that allows startups to raise capital from investors more efficiently, among other initiatives, by allowing small-dollar crowdfunding investments (http://wh.gov/3Buf), expanding mini-public offerings, and creating an “IPO on-ramp” consistent with investor protections.
Nurturing entrepreneurial talent: President Obama has taken executive action to make it much easier for graduates to manage student loan debt (http://wh.gov/uc1) and pursue an entrepreneurial path (http://wh.gov/TX5). The Administration has launched new mentorship and training opportunities for thousands of entrepreneurs starting new high-growth companies
“I was saying the other day, we take pride in individual initiative and … we don’t like handouts,” Mr. Obama told supporters in West Palm Beach, Fla. “We don’t expect government to solve every problem and we don’t think the government should help people who don’t want to even help themselves
According to Obama’s plan, all 50 states would be able to establish Self-Employment Assistance (SEA) programs, enabling aspiring entrepreneurs to utilize unemployment insurance money to fund their businesses for up to 26 weeks —providing roughly $10,000 to $13,000 in assistance, or what I would refer to as “seed funding.”
Obama's plan would create jobs now and establish "the building blocks necessary for greater long-term growth," NLC President and Charlotte, N.C., Councilmember James Mitchell said in a statement. "The outlined plan would save and create thousands of jobs in our communities that are essential to the short-term and long-term health of our communities," Mitchell said. "It would put thousands of our residents back to work in private sector positions by building and maintaining the infrastructure that is fundamental to our economic future."C?
"The administration has proposed making permanent the 100 percent exclusion for investments in C corporations held for at least five years," Litan said. "Making this exemption permanent would generate, conservatively, $7.5 billion in additional investment over a 10-year period in startups, which contribute the vast majority of net new jobs created in the U.S. economy."
“If you were successful, somebody along the line gave you some help,” Obama said in Roanoke, Va. “There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business, you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own.”