Engine Statement on the Startup Act

The following statement can be attributed to Engine Executive Director Evan Engstrom:

"Engine has long supported the Startup Act, since its first introduction in 2011, and we’re excited to support the newest iteration of the bill introduced this week.

"The bill would open up opportunities for entrepreneurs and U.S.-educated foreign students with graduate degrees in the STEM fields, remove per-country caps for employment-based visas, encourage university research to move to the market more quickly, and require agencies to evaluate the costs of new significant regulations to startups.

"This year’s version of the bill also includes a crucial new provision that would modernize the U.S. Economic Development Administration’s Regional Innovation Program. That program -- which awards grants for innovative job-creating programs at the local and regional level and has seen decreased funding in recent years -- would be restored to its original authorization level of $100 million and would be made available to a more programs.

"Legislation that contains forward thinking immigration policies, research policies, and federal funding programs like this bill will help boost the U.S. startup ecosystem while adding jobs and economic growth. We thank Sens. Moran and Warner for their tireless work on these issues and hope Congress will move quickly on this measure."