Bill with strong bipartisan support will help Maryland startups gain capital
What:
The Maryland Technology Development Corporation (TEDCO), which is a founding member of the Maryland region of the national Startup America Partnership, has formally announced its support of the bipartisan JOBS Act. This bill is the first legislation that directly targets early stage companies that TEDCO funds and supports.
When:
The Jumpstart Our Business Startups (JOBS) Act was recently approved by Congress and is expected to be signed into law by President Obama later this week. A measure with strong bipartisan support, the JOBS Act will increase access to capital for young companies and reduce certain regulatory barriers that restrict the growth potential for companies. The Act seeks to help startups and small businesses, the lifeblood of our economy, to build their companies and hire employees.
Comments:
“Entrepreneurs are the backbone of Maryland’s innovation economy and play an essential role in job creation and economic development,” said Rob Rosenbaum, president and executive director of TEDCO. “Being home to successful companies like Under Armour and Millennial Media, our state has a proud entrepreneurial and start-up spirit. The JOBS Act will encourage ambitious and promising business leaders to start companies and develop technologies that will make contributions to the quality of life for all Americans. TEDCO is extremely honored to play a role in supporting and growing Startup America and we look forward to the momentum and advancements that this partnership will bring.”
"I am pleased that Congress passed the Jumpstart Our Business Startups (JOBS) Act to help entrepreneurs get faster access to capital to grow their companies and create jobs,” said Startup America Chairman Steve Case. “It has been gratifying to watch Democrats and Republicans put politics aside to strengthen our economic competitiveness over the long-term.”