Before policymakers regulate AI, they need to understand a fundamental technology: neural networks.
Congress needs to act on child care challenges
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 Big Story: Global governments complicate content moderation. This week, governments across the globe zeroed in on how companies treat user content online, with several countries advancing policies that would make content hosting and moderation more difficult for Internet companies and hinder free expression online.
Based in New York City, N.Y., Fund Black Founders is a crowdfunding platform dedicated to narrowing the racial capital access gap by connecting Black founders with the financial and community resources they need. Founder & CEO, Renee King is focused on building an organization that can provide a necessary “Family & Friends” funding round for founders who would otherwise lack access to such capital. We spoke with Ms. King about what led her to build Fund Black Founders, the importance of access to early stage funding for Black founders, and how government agencies can make existing resources more accessible to emerging entrepreneurs.
A recent court decision confirming limits around patent (in)eligibility also reveals how this area of the law can more quickly resolve cases where weak patent claims are broadly asserted against companies—including startups and small businesses. In PersonalWeb Techs. LLC v. Google LLC, the Federal Circuit applied § 101 of the Patent Act to cancel patent claims which should not have issued in the first place—but were part of a patent that had been asserted in nearly 170 lawsuits against numerous defendants.
The Big Story: Startups should watch as Congress works on reconciliation bill. The House this week moved ahead with two major legislative packages that will have varying impacts on the U.S. startup ecosystem. On Tuesday, the House voted to approve a budget resolution creating a path for Congress to write its $3.5 trillion reconciliation bill, which could include immigration, childcare, and tax provisions. It also set a deadline to vote on the $1 trillion bipartisan infrastructure bill in late September, which includes billions of dollars for broadband expansion.
TeacherCoach is an education technology company that is dedicated to providing accessible personal and professional development tools to educators and parents in school districts across the U.S. Based in Mount Laurel, N.J., Jared Scherz—Founder and CEO—told us about what led him to found TeacherCoach, the challenges he’s faced in building a social enterprise startup, and how he’s navigating the complexities of content moderation given their platform’s unique audience.
Like all small businesses, startups faced tremendous hurdles during the COVID-19 pandemic. But as the country — and its policymakers — think about building back after the pandemic, startups have a valuable perspective as innovators, adaptors, and significant contributors to future economic and job growth. And every member of Congress represents parts of the startup ecosystem, because startups are everywhere — in every district and state across the country. Congressional Startup Day — taking place this week — gives policymakers the chance to hear from startups they represent directly.
The Big Story: Congressional Startup Day brings policymakers and innovators together. This week, members of Congress and startups across the country celebrated Congressional Startup Day, the annual bipartisan, bicameral celebration giving startups a chance to connect with the members of Congress who represent them and identify the ways in which policymakers can encourage innovation and entrepreneurship.
The following statement is attributed to Kate Tummarello, Executive Director of Engine, regarding today’s introduction of the resolution designating August 18, 2021 as Congressional Startup Day.
The Big Story: Senate passes infrastructure bill, but crypto problems remain. This week, the Senate approved the bipartisan infrastructure bill, which has several provisions aimed at making broadband more accessible and affordable across the country, increasing opportunities for innovation and entrepreneurship. While those provisions are a big win for the startup ecosystem, the bill also contains a contentious provision that would create compliance burdens and data collection requirements on a large part of the cryptocurrency community.
Based in Newark, N.J., MoCaFi is a fintech company that provides a platform and tools designed to make financial services more accessible for all communities. MoCaFi—and its Founder & CEO, Wole Coaxum—are particularly focused on developing tools and technology that can help close the racial wealth gap that persists within the U.S. We spoke with Mr. Coaxum about what led him to MoCaFi, the importance of access to modern banking tools, and how public-private partnerships can help reach underresourced communities.
The Big Story: Senate setting up broadband boost as part of infrastructure package. As the Senate moves toward passing the $1 trillion infrastructure bill, startups stand to gain from provisions in the bill that would increase reliable, accessible, and affordable broadband across the country. Although the bill has faced hurdles as it is being considered on the Senate floor—including significant pushback from the cryptocurrency community—the bill overall is a win for startups and Internet users.
Last week, Congress voted to advance the $1 trillion bipartisan infrastructure bill which promises to benefit startups by directing an unprecedented $65 billion for broadband development. This news comes at a time where many businesses are more dependent on Internet access than ever. Yet, there are still approximately 30 million Americans who lack broadband infrastructure that provides minimally acceptable speeds.
European policymakers concerned about the risks posed by human biases entering Artificial Intelligence (AI) systems introduced a draft proposal earlier this year that would govern AI within the European Union and American startups operating there. Eliminating bias in AI is necessary to protect human rights, and balanced regulation can provide the legal certainty required to foster socially-beneficial innovation. However, the proposed AI law misses this mark in its current form and instead discourages the uptake of AI in the EU and threatens the vitality of AI startups on both sides of the Atlantic.
As part of its sweeping, must-pass infrastructure bill, the Senate is debating a provision that would create compliance burdens and data collection requirements for members of the cryptocurrency ecosystem, including many startups.. While the language in the bill is meant to target tax evasion in cryptocurrency trading, if enacted, the provision could have broad, unintended consequences.
The Big Story: LIKE Act provides hope for startup visas
A new bill in Congress would create more opportunities for foreign-born innovators and strengthen our diverse startup ecosystem. This week, Congresswoman Zoe Lofgren (D-Calif.), chair of the House Subcommittee on Immigration and Citizenship, introduced the Let Immigrants Kickstart Employment (LIKE) Act, legislation that would enable foreign-born innovators who meet certain investment benchmarks to embark on their entrepreneurial endeavors in the U.S., while also providing them with a pathway to permanent residency. A startup visa is more critical than ever, as other countries continue to attract founders through visas and investment in entrepreneurial infrastructure.
Rubitection is making skin health evaluation better, easier, and more reliable to prevent chronic conditions and improve quality of life through innovative, inclusive technology. We recently spoke to Rubitection’s Founder and CEO, Dr. Sanna Gaspard, about the importance of diversity in medtech, the need for more innovation in and investment for technology to support an aging population, and what the government can do to advance these goals.
The following statement is attributed to Kate Tummarello, Executive Director of Engine, regarding today’s introduction of the Let Immigrants Kickstart Employment (LIKE) Act:
Statement:
“Engine is proud to support the Let Immigrants Kickstart Employment Act that would establish a startup visa program so that foreign-born entrepreneurs can launch and grow their startups in the U.S. and spur job creation. The legislation, led by Rep. Zoe Lofgren (D-Calif.), would help the nation maintain its status as a global hub of innovation by encouraging the formation of dynamic new companies and injecting new entrepreneurial talent into the startup ecosystem.”
Background:
The LIKE Act would create a new category of startup visas, providing foreign-born entrepreneurs who meet certain requirements with the protections needed to launch and grow their companies in the U.S., including a pathway to permanent residence. The legislation would also establish a nonimmigrant visa for certain essential employees of foreign-born founders in the U.S. on a startup visa. Foreign-born workers make valuable contributions to the U.S. economy by launching companies and creating new jobs, but restrictive immigration policies too often force startup founders to look elsewhere when launching their ventures. Currently, there is no visa category specifically set aside for foreign-born entrepreneurs who want to establish companies in the U.S. Legislation such as the LIKE Act will allow the U.S. to continue attracting and retaining the talent needed to compete globally by welcoming immigrant entrepreneurs to our shores.
Your privacy is important to us. To better protect your privacy we provide this notice explaining our online information practices and the choices you can make about the way your information is collected and used.
