Engine statement regarding the ‘‘Small AI Innovators Empowerment Act’’

The following statement is attributed to Kate Tummarello, Executive Director of Engine:

Statement:

"In order for lawmakers to pass sound legislation both regulating and promoting the development of AI, they need a firm grasp of the realities faced by AI startups across the country. The Small AI Innovators Empowerment Act will shine light on the experiences of startups from the first dollar they raise to eventual successful exit—and all of the product development, regulatory hurdles, and other challenges they encounter in between. Engine is proud to endorse this legislation and is grateful to Reps. Subramanyam and Obernolte for their leadership on this issue and support of the U.S. startup ecosystem."

Background:

Rep. Suhas Subramanyam (D-Va.) and Jay Obernolte (R-Calif.) introduced the Small AI Innovators Empowerment Act, a bill directing study of key challenges and factors impacting U.S. ‘‘small artificial intelligence businesses’’—startups—innovating with AI. 

The bill requires the study to examine early stage funding, the availability and accessibility of federal funding, the utility of R&D tax credits, the role of accelerators and incubators, the impact of regulations on technologies used by startups, and the role of exits by acquisition. 

The study was one of the many steps forward identified by the Bipartisan House AI Task Force in the 118th Congress, which was Co-Chaired by Rep. Obernolte.