Startups call for better access to capital for entrepreneurs of color
Before policymakers regulate AI, they need to understand a fundamental technology: neural networks.
The video game industry is concentrated in a handful of locations, leaving incredible talent in underserved areas frequently overlooked. Ben Kvalo started Midwest Games to change that narrative, supporting underrepresented game developers because increasing diversity in game development leads to better products and bigger markets. Ben recently joined us to talk about Midwest Games, the challenges of raising capital in the Midwest, the importance of small developers in maintaining a healthy video game ecosystem, and the potential benefits of AI for the industry.
Engine statement on SCOTUS Decision in Moody v. NetChoice and NetChoice v. Paxton
Consumer weather models are too coarse for farms and conservancies that are large enough to occupy their own microclimates. Dr. Carlos Gaitan started Benchmark Labs to solve this problem, leveraging artificial intelligence to create custom weather models for farmers and conservators—helping them increase their crop yield and better manage their land. Carlos recently sat down with us to discuss Benchmark Labs, his experience as an immigrant founder, the value of government funding for startups, and how policymakers should approach AI policy.
The “Treasure State” of Montana is rapidly becoming a trove of high-growth startups and innovators. This week, we talked to Paul Gladen of the Blackstone LaunchPad, a university entrepreneurial education program brought to Montana with the help of Senator Jon Tester. Paul believes an educational process that helps legislators understand the needs of the 21st century economy could accelerate startup growth nationwide, as was the case in Montana.
The Big Story: Congress passes funding bill with several tech provisions. Narrowly avoiding a government shutdown, Congress passed and President Donald Trump signed into law this week a $1.3 trillion government funding bill that included a whole host of tech-related provisions.
Today, Reps. Steve Stivers (R-OH) and Bill Foster (D-IL) introduced a House version of the STRONGER Patents Act (S.1390), which would hobble the U.S. Patent and Trademark Office’s internal review system for challenges to overly broad, obvious patents and overrule decades of Supreme Court decisions on patent issues, exposing technology users to increased litigation.
The following can be attributed to Engine Executive Director Evan Engstrom:
"We applaud Sen. Wyden's work to address some of our concerns with this legislation. We all support efforts to stop sex trafficking, but it is important to do so in a way that doesn't create unintended consequences for smaller internet companies that feature user-generated content. Sen. Wyden's amendments would help clarify that companies honestly engaging in content moderation won't face unexpected or unfair liability. That would make it substantially easier for platforms to proactively contribute to the fight against sex trafficking without fear of negative consequences."
Despite its reputation as an “oil patch town”, Houston is home to a thriving and diverse startup ecosystem. This week, we learned from Brad Burke and Lawson Gow that Houston’s diversity, concentration of research institutions and active investors, and involved support from local government have been critical in making the city a startup hub.
A renewed sense of localism has bolstered support for Southern Louisiana's entrepreneurial ecosystem in the "large small town" of Baton Rouge. For this week's #StartupsEverywhere, we talked to Stephen Loy, who cites the city's steady flow of eager, educated university students and a statewide tradable tax credit program as key inputs.
The House this week passed a bill that would undermine platform protections that companies rely on to host user content and to police that content themselves without fear of meritless litigation.
Engine's statement following the announcement from the House Committee on Rules to consider H.R. 1865, the Allow States and Victims to Fight Online Sex Trafficking Act (FOSTA) on Monday, February 26th and the proposed amendment by Rep. Walters to include language from the Senate’s Stop Enabling Sex Traffickers Act (SESTA)
Infrastructure was the buzzword of the week, which kicked off with the Trump administration unveiling its infrastructure plan.
The world of innovation is at an exciting point in time, unrivaled by anything we’ve ever seen before. The cost of launching a startup has never been cheaper and the process has never been more efficient. This is largely due to reduced business costs (e.g. server fees) resulting from advancements in technology services and internet access. What once cost a startup hundreds of thousands to millions of dollars in capital expenditures just to get to the starting line is now accessible to almost anyone for much, much less. With the Internet, the distance between business and consumer has also shortened drastically; marketing directly to your customer demographic across the world is now possible. Additionally, information in the form of advice, mentoring, and best practices is now abundant and accessible. What was once restricted to Ivy League schools or knowledge bases such as New York and San Francisco is now available for free online.
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