Washington, D.C. (May 22, 2012) – The Information Technology Industry Council (ITI) applauded the bipartisan Startup Act 2.0, introduced in the Senate today, as a way to putmore Americans to work in innovative industries. Senior Vice President for Government Relations Robert Hoffman commented on the new proposal:

“From coast to coast, there is one issue on the minds of all Americans: create new jobs. We need bipartisan solutions to policy barriers that are preventing new ideas, new businesses and new jobs from taking root here in the U.S. The Startup Act 2.0 meets those criteria and breaks down barriers to economic growth. It brings together Republicans and Democrats. And it would put more Americans to work.

“The bipartisan sponsors of the Startup Act 2.0 – Senators Jerry Moran, R-Kan., Mark Warner, D-Va., Marco Rubio, R-Fla., and Chris Coons, D-Del. – have put together a policy blueprint to fuel new business start-ups in the U.S. They understand that the secret to success is marrying financial capital with innovative human capital.

“For instance, for too many years, we have seen a talent drain here in the United States. Amazingly smart women and men who come to the U.S. to earn degrees in our colleges and universities are then forced to leave our shores when they graduate because they are caught in a numbers crunch. There aren’t enough visas to go around. So these newly minted graduates take their innovations and ideas overseas – and jobs and opportunities go with them. It makes no sense, and the Startup Act 2.0 would begin to keep these innovators here in the states. At the same time, the legislation would provide enormous help to our colleges and universities by backing top-flight research and development. America’s universities have long been the world’s launching pad for new innovation. Providing federal grant assistance to advance research into new commercial startups will help to ensure that taxpayers and the economy get a strong return on investment.

“Other countries are putting in place new policies to expand entrepreneurship, innovation, and job creation. They are leaving no stone unturned in the global competition to create jobs and attract breakthrough industries. The United States must not stand still. The Startup Act 2.0 addresses gaps in the economy and will help businesses – large and small – to create new jobs. From improved immigration policies to a renewed commitment to R&D to greater access to capital, Startup 2.0 is a smart, bipartisan approach to advance America’s economic strength.

“The bill’s sponsors have demonstrated a bipartisan entrepreneurial spirit, and ITI hopes that this is a benchmark for future bipartisan advances on key policy issues essential to the long-term competitiveness and growth of the U.S. economy.”

About ITI

The Information Technology Industry Council (ITI) is the premier voice, advocate, and thought leader for the information and communications technology (ICT) industry. ITI is widely recognized as the tech industry's most effective advocacy organization in Washington D.C., and in various foreign capitals around the world.