Last week, Silicon Valley Bank hosted a roundtable discussion featuring members of the New Democrat Coalition and SVB clients from the venture capital community. The event allowed Silicon Valley entrepreneurs and innovators to discuss first-hand with legislators focused on championing innovation a variety of ideas for promoting U.S. economic growth. SVB summed up the event well in a press release.
As part of the discussion, there was a focus on the Startup Visa effort that has been introduced in both the Senate and House of Representatives (including by Jared Polis in the House).
I think Jared says it best:
"As a former entrepreneur, I know first-hand what it takes to build a company — and I know what opportunities a successful company can create for its workers, its suppliers, and its community. If an entrepreneur has an idea for a company that will attract investors and hire workers, we should be welcoming and encouraging that entrepreneur to start their company in the U.S.,"
Furthered Mary Dent General Counsel of SVB when speaking about the impetus of the event:
"There is a great deal of evidence showing the profoundly positive effect that venture-backed companies have on our economy — creating jobs, creating entire new industries, and promoting U.S. competitiveness around the world," said Mary Dent, SVB’s general counsel. "Congress hears a lot from companies that have already made it. We want to make sure they also hear from the growing companies that will shape our economy in the future.
Kudos to SVB for organizing such a worthwhile event and the New Dems for supporting their efforts. Among all the issues that are important to our continued leadership role in technology and entrepreneurship, the value of initiatives like Startup Visa can not be overstated.