What are LOCAL Governments Doing for Entrepreneurs?
City Initiatives:
- Reno & Cedar Rapids launch 1 Million Cups, a program by the Kauffman Foundation that lets entrepreneurs present to mentors, makers, and the startup community.
- Arlington has BizLaunch, a small business assistance network to provide free research assistance, business advice, counseling and loan information in english and spanish.
- The City of San Buenaventura, California has a Jobs and Investment Fund that set up an incubator and works with venture funds to support young companies.
A Few State Bills on the Table:
1) SENATE BILL NO. 2018, North Dakota
Read the bill here.
Update: Sent to Governor on May 2, 3013
Section 9: “Research North Dakota venture investment program.
1. The corporation shall administer a research North Dakota venture investment program that provides investments to startup or spinoff businesses that utilize technology developed at a research university, as defined in section 54-65-01, or jointly developed by a research university and the private sector.
2. A qualified applicant for a research North Dakota venture investment:
a. Must be a business operating in North Dakota that is in the startup or spinoff state;
b. Must be utilizing technology that is licensed from a research university or a nonprofit foundation affiliated with a research university; and
c. Must meet underwriting guidelines established by the corporation.
3. An investment under this section may not exceed two hundred fifty thousand dollars. A recipient business may not receive more than one award under this section.”
Section 25: “The department of commerce shall use up to $300,000 for a grant to a nonprofit organization assisting individuals with business ideas. The department of commerce shall use any remaining amount for the technology-based entrepreneurship grant program.”
Section 42: “It is the intent of the sixty-third legislative assembly that the North Dakota development fund, incorporated, use funding transferred to the North Dakota development fund, incorporated, in section 18 of chapter 50 of the 2011 Session Laws for investments under the research North Dakota venture investment program.”
2) New York S4574-2013:
Apr 11, 2013 — REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
Goal: Create Micro Business Outreach Centers & A Micro Business Network.
“PURPOSE: To create a means of supporting existing business outreach centers and creating additional centers that are serving micro enterprises as well as providing them with the opportunity to facilitate individuals of communities that are geographically and socially isolated from the mainstream economy with access to economic development counseling services and funds.”
Read the short, conscise bill here.
3) SF 1545, Minnesota
Read the Bill here.
“Section 1. ASSISTANCE TO ENTREPRENEURS; APPROPRIATION.
(a) $360,000 in fiscal year 2014 and $360,000 in fiscal year 2015 are appropriated from the general fund to the commissioner of employment and economic development for a grant to the small business development center hosted at Minnesota State University, Mankato, for a collaborative initiative with the Regional Center for Entrepreneurial Facilitation.
4) S 0827, Rhode Island
Referred to Senate Finance
Read the bill here.
“SECTION 14. Section 44-43-2 of the General Laws in Chapter 44-43 entitled "Tax
Incentives for Capital Investment in Small Businesses" is hereby amended to read as follows:
44-43-2. Deduction or modification. -- (a) In the year in which a taxpayer first makes a qualifying investment in a certified venture capital partnership or the year in which an entrepreneur first makes an investment in a qualifying entity, the taxpayer or the entrepreneur shall be allowed:
(1) A deduction for purposes of computing net income or net worth in accordance with
chapter 11 of this title; or
(2) A deduction from gross earnings for purposes of computing the public service
corporation tax in accordance with chapter 13 of this title; or
(3) A deduction for the purposes of computing net income in accordance with chapter 14
of this title; or
(4) A deduction for the purposes of computing gross premiums in accordance with
chapter 17 of this title; or
(5) A modification reducing federal adjusted gross income in accordance with chapter 30 of this title.
(b) The deduction or modification shall be in an amount equal to the taxpayer's qualifying investment in a certified venture capital partnership or an entrepreneur's investment in a qualifying business entity and shall be measured at the year end of the certified venture capital partnership, the year end of the qualifying business entity, or the year end of the investing taxpayer, whichever comes first.”
ADOPTED:
5) New York R633: Establishes the Senate Select Committee on Science, Technology, Incubation and Entrepreneurship
Read the legislation here.
“be it RESOLVED, That a Select Committee on Science, Technology, Incubation and Entrepreneurship is hereby established, to conduct meetings, conferences, examinations, and public hearings, to gather information and make legislative proposals, reports, and recommendations, and to provide outreach to and interaction with private and public organizations that provide incubation, innovation, and entrepreneurship programs, and to make recommendations on efforts to strengthen entrepreneurial and job creation including related legislative proposals and resolutions before the State Legislature in such areas; all with the aim of growing the spirit of enterprise and innovation in New York”
Sources:
- http://www.nlc.org/find-city-solutions/center-for-research-and-innovation/economic-development/small-business-and-entrepreneurship/providing-support-services-to-strengthen-your-small-businesses
- http://www.nlc.org/find-city-solutions/center-for-research-and-innovation/economic-development/small-business-and-entrepreneurship/asheville%E2%80%99s-efforts-to-support-and-attract-entrepreneurs
- http://www.nlc.org/find-city-solutions/center-for-research-and-innovation/economic-development/small-business-and-entrepreneurship/a-city-in-action-the-san-buenaventura-jobs-and-investment-fund
- http://www.vcreporter.com/cms/story/detail/hatching_an_idea/7705/