A primer on Access to Capital and what it means for startups.
Senators Jerry Moran (R-KS) and Mark Warner (D-VA) reintroduced their Startup Act, bipartisan legislation intended to encourage job growth and the creation of new innovative businesses. In 2017, the senators last introduced this legislation, which would accelerate the commercialization of university research, review and improve the regulatory processes at the federal, state and local levels, and modernize an Economic Development Administration (EDA) program designed to promote innovation.
The Big Story: GDPR’s biggest hit yet. The French privacy watchdog has issued a $57 million fine against Google, the largest fine yet under Europe’s General Data Protection Regulation, the sweeping privacy rules that went into effect in the European Union last year.
California collecting input on privacy law. The process of implementing a new California privacy law kicked off in earnest this week as state Attorney General Xavier Becerra’s office held its first public forum on the issue.
Kim Lane, the Conductor’s CEO and all-around ecosystem builder, has seen the region change dramatically with the help of the public and private sectors. Kim and her team work closely with policymakers to develop policies that encourage entrepreneurship. Healthcare and education are top on her policy wishlist.
Engine responded to the Bureau of Industry and Security (BIS) on their Advanced Notice of Proposed Rulemaking (ANPRM) on the review of export controls for certain “emerging and foundational technologies.” The ANPRM is part of the recently passed Export Control Reform Act of 2018 which seeks to curb exports on national security technology.
New year, new Congress, same issues. The new year and the new Congress kicked off this week, but many of the policy debates that concerned startups in 2018 will continue on. As the Democrats take control of the House and the gavels of key committees, expect vigorous oversight of the Trump administration across the board, which is likely to impact several of the policy areas startups care most about, including trade, net neutrality at the Federal Communications Commission, and more.
The Big Story: How the new trade deal affects startups. After months of negotiating a new trade deal between the U.S., Canada, and Mexico, the three countries’ leaders signed onto a new trade deal—the United States-Mexico-Canada Agreement, or USMCA—late last month.
We met with Thuc Vu, cofounder and CEO of OhmniLabs, a startup that produces home robots that help people communicate at a distance. Vu and his team have partnered with policymakers to help communities in their healthcare and workforce development efforts. As OhmniLabs continues to grow, Vu hopes policymakers look for solutions to immigration reform and incentivizing research and development.
As 2018 comes to a close, one key policy area that is sure to take center-stage in 2019 is the passage of the updated North American Free Trade Agreement (NAFTA), renamed the United States-Mexico-Canada Agreement (USMCA). While the USMCA is a big win for startups in several areas, Congress should continue to push the Administration in two areas to ensure that entrepreneurs will flourish under the new agreement. Overall, the USMCA sets a high standard for future free trade agreements and will positively impact the growth of American startups.
The Big Story: Trump’s STEM push. The White House released a report this week aimed boosting the country’s science, technology, engineering, and math skills over the next five years, including through work with educational institutions like colleges and libraries as well employers, nonprofits, and others.
Memphis has served as the epicenter of music for great stars from Elvis Presley to B.B. King. The city has also become an epicenter for the region’s ecosystem, led by Leslie Smith, the president and CEO of Epicenter. Leslie and her team work to identify gaps in the ecosystem and work collectively to fill those for gaps for the region’s growing population of innovators.
The Big Story: FTC wants more authority, resources for privacy. During a hearing this week, the commissioners of the Federal Trade Commission told lawmakers the agency needs more authority to better protect consumers’ privacy online, including the ability to bring civil penalties against companies that violate privacy rules.
A flood of perspectives on privacy. Late last week, the federal government got dozens of comments from companies, trade groups, non-profits and more on how to approach consumer privacy online. As part of the response to a request for comments on a broad framework for consumer privacy, Engine submitted comments to the Commerce Department’s National Telecommunications and Information Administration, outlining the ways in which various privacy proposals and laws affect startups.