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Advancing Tech Startups Act
12/30/2022, 5:32 PM
Summary of Bill HR 3708
One key aspect of the bill is the establishment of a grant program that will provide funding to tech startups for research and development, as well as for the commercialization of new technologies. This funding will help startups to innovate and bring new products and services to market, ultimately driving economic growth and creating jobs.
Additionally, the bill includes provisions for mentorship and training programs for tech startup founders and employees. These programs will help to develop the skills and knowledge necessary for success in the tech industry, as well as provide guidance and support for navigating the challenges of starting and growing a tech business. Overall, the Advancing Tech Startups Act is aimed at fostering a supportive environment for tech startups in the US, with the goal of promoting innovation, economic growth, and job creation in the technology sector.
Congressional Summary of HR 3708
Advancing Tech Startups Act
This bill requires the Department of Commerce to study and report on the impact of technology startup companies and small businesses on the U.S. economy.
Such study shall involve, among other things, (1) describing the activities of identified locations that are dedicated to the creation, development, and growth of technology startup companies and small businesses; (2) establishing a list of federal agencies asserting jurisdiction over entities and industry sectors dedicated to technology startup companies and small businesses; and (3) assessing risks and trends in relevant marketplaces and supply chains that impact technology startup companies and small businesses in the United States.
Commerce must report to Congress the results of such study and any recommendations to promote the creation, development, and growth of technology startup companies and small businesses.
