Top Startup Policy Achievements in 2023
Did you know that over the last four decades, America has seen a decline in startup creation, impacting innovation and job growth? In 2023, we've made significant strides to reverse this trend. Policies are pivotal for providing equal opportunity, driving innovation, and providing mobility from generational poverty to generational wealth. With so many initiatives progressing at all levels of government, we've rounded up these highlights to inspire and inform. As we celebrate these achievements together, we also want to hear from you! Share your organization's success stories and policy wins with us. Let's amplify our collective impact and keep the momentum going. Your story could inspire others and contribute to a thriving community of innovators.
Center for American Entrepreneurship
In 2023, the Center for American Entrepreneurship (CAE) was at the forefront of advocating for policies that foster a more inclusive and geographically diverse entrepreneurial ecosystem. Their key initiative was the bipartisan Expanding American Entrepreneurship Act introduced in the Senate. This Act seeks to democratize the venture capital funding landscape by easing regulations for starting smaller venture funds. Currently, a stark 50% of all venture capital funds are concentrated in just four major U.S. metro areas, limiting the growth potential in midsize and rural communities. Furthermore, women founders and entrepreneurs of color, who collectively receive a mere 3% of all venture funding, stand to benefit significantly from these more inclusive funding opportunities. By advocating for this legislation, the CAE aims to broaden economic opportunities and support a diverse range of entrepreneurs across the nation. John Dearie, President of CAE, emphasizes the goal for 2024: “to get the Act introduced on a bipartisan basis in the House, and to pass the legislation through both chambers and sent to the President's desk”.
Startup Champions Network
Startup Champions Network has been weaving policy specific sessions into its programs over the past year and a half. This summer, the organization held its inaugural Policy Summit in Washington, D.C., bringing together ecosystem builders with advocacy groups, government agencies, and past and present government officials from across the country. Among Summit attendees there was representation from 50 Entrepreneur Support Organizations! The convening helped raise awareness for policy-related programs and opportunities that help remove barriers for entrepreneurs through policy and advocacy. Attendees had the opportunity to arrange meetings with their representatives while in DC and offered practical examples for having an effective meeting with representatives. We were proud to support the Policy Summit, organizing a private tour of the capital for attendees, and leading a session on workforce development policy.
Learn more about the Policy Summit here.
Co-hoots, Huub, and Startup Champions Network
In a pioneering move, the City of Phoenix declared October as Ecosystem Builder Month, spearheaded by the SCN in collaboration with Co+hoots and Huub. This proclamation, a first of its kind, aims to highlight the crucial role of ecosystem builders in fostering a supportive environment for startups, encouraging other cities to recognize and promote entrepreneurial communities similarly.
Engine
Engine has been actively involved in shaping startup-friendly policies. They've focused on the impact of privacy laws and platform liability on startups, contributing to Supreme Court discussions on Section 230. Their 2023 Startup Policy Playbook outlines key policy areas for startups, including capital access, platform liability, and more. This resource is designed to guide startups through the complex landscape of policy and advocacy. Download your copy of Engine’s 2023 Startup Policy Playbook here
Right To Start
Right to Start's year was highlighted by hosting the first Presidential Candidate Forum on Entrepreneurship and publishing a Bipartisan Public Opinion Survey on entrepreneurship. These initiatives aim to bring entrepreneurship to the forefront of national discussions, emphasizing its importance in job creation and innovation. They also launched the Lucky Entrepreneur Coin, supporting entrepreneurs with a symbol of solidarity and community.
Make Startups
Our year started by working with our partners at CAE, Right to Start, and SCN to expand an alliance of more than two dozen organizations to encourage and endorse the reintroduction of the Startup Act. Meeting with Cosponsors Rick Allen (R-GA) and Mark DeSaulnier (D-CA), we developed a policy one-pager to help them and others summarize the benefits of the legislation.
Over the summer, we supported Startup Champions Network’s inaugural Policy Summit in DC, organizing a private capitol tour with Congressman Allen, leading a session on workforce policy, and hosting a fireside chat with John Dearie, President of the Center for American Entrepreneurship. Post-summit, we facilitated roundtable discussions with an array of stakeholders—government leaders, lenders, VCs, and startup founders. These conversations delved into pressing issues affecting the startup community, such as the importance of rural startups, overcoming workforce bias, navigating SBA loans, and leveraging AI in startup training and investment.
December marked a significant milestone with the introduction of H.R. 6655 by Virginia Foxx (R-NC) and Bobby Scott (D-VA) to amend the Workforce Innovation and Opportunity Act. This bipartisan effort is set to incorporate several provisions of the Startup Act, notably recognizing entrepreneurial skills development programs as explicitly eligible for part of the $10B in annual discretionary training funds. This legislative progress is a testament to our collective advocacy and strategic policy work.
Looking ahead, we're thrilled to launch the Make Startups Executive Fellowship Program, made possible by a grant from the Ecosystem Builder Leadership Network and the Kauffman Foundation. This initiative will bring together 10-12 leaders from diverse organizations to enhance state and community-level support for entrepreneurship programs. As we prepare to open applications in January 2024, we invite you to join us in this movement by subscribing for updates and sharing your journey with entrepreneurship and policy.
