Archives

The Coalition of Small Business Innovators (CSBI) expresses support for the Start-up Jobs and Innovation Act, which would incentivize investment in emerging, pre-revenue, research-centric businesses and support the search for cutting-edge technologies that help to fuel our nation’s economic health and prosperity. CSBI thanks Senator Pat Toomey (R-PA) and Senator Robert Menendez (D-NJ) for introducing this vital piece of legislation, and Senators Pat Roberts (R-KS) and Tom Carper (D-DE) for cosponsoring the bill.

The Start-up Jobs and Innovation Act is critical to the continued vitality of next generation innovators and is a much-needed step to ensure that America maintains its place as a global leader and we urge other Members of Congress to lend their support to this important measure.

To read more, click here.

In the last two years, we have seen a record number of biotechs go public, and their successful initial public offerings will provide the capital for their late-stage trials. But how did they get there? Venture capital. It has long been the lifeblood for early-stage biotechs, and 70 percent of last year’s IPOs were issued by VC-backed companies. Companies like mine need years of private investment before going public is even an option.

We have seen funds raise less money, turn away from biotechnology, or close altogether. We run the risk of losing out on a generation of young companies that could be the next class of IPOs. Pennsylvania’s strong life-science economy is poised to grow even larger, but only if our companies are able to get the funding they need to prosper.

The U.S. economy is bolstered by the high-quality jobs created by our industry, and supporting R&D is key to maintaining America’s lead in the innovation-centric 21st-century economy. As an industry, we should be mindful of the importance of early-stage financing and the promise that early-stage research holds. By supporting the Start-up Jobs and Innovation Act, we can help Congress make the right decision for innovators, patients, and the country as a whole. Jeff Hatfield, Philadelphia Inquirer, June 9, 2014.

To read the full op-ed in the Philadelphia Inquirer, click here.

As a serial entrepreneur and a scientist, I have been immersed in the biotechnology industry for almost two decades, starting several companies from the ground up and leading key scientific research projects that have contributed to our biological understanding of the human genome. In our industry, one quickly learns that while we discover unbelievably exciting and useful facts about human diseases, the pace of research and development for new medicines can move excruciatingly slowly, and the cost can be remarkably high.

We believe that our therapies in development for life-threatening diseases in oncology, fibrosis, and metabolic diseases have the potential to change and save patient lives around the world. However, obtaining critical capital to fuel such innovation can be challenging.

The Start-up Jobs and Innovation Act would benefit small R&D driven businesses like Regulus by allowing companies to focus their time on what’s really important – exploring the frontiers of science to develop new and powerful medicines. I believe that industries like biotechnology are helping our economy and ensuring that our nation is competitive on the world stage. Kleanthis Xanthopoulos, San Diego Business Journal, June 6, 2014.

To read the full op-ed in the San Diego Business Journal, please click here.

The recent recession has decimated financing for the start-up bioscience industry, with many companies and venture funds disappearing completely. Fortunately, there is newly proposed federal legislation that would help address these issues and strengthen high-tech, research-intensive industries across the country – including the bioscience industry right here in Colorado.

By encouraging investors to support early-stage R&D and dedicate themselves to long-term research projects, the Start-up Jobs and Innovation Act will allow growing companies to finance for the longer term and focus more of our attention on scientific advancement and innovative research.

The Start-up Jobs and Innovation Act will ensure that we continue to attract the highest caliber researchers and have the capital necessary to fund their groundbreaking research. I urge Colorado’s delegation in Congress to support this vital legislation. Tim Rodell, Denver Business Journal, April 20, 2014.

To read the full op-ed in the Denver Business Journal, click here.

Every great company began with a revolutionary idea and individuals dedicated to making the seemingly impossible a reality.

It’s easy to see that Washington has a rich history of producing great, innovative companies — just look at Amazon, Boeing and Microsoft. These companies started out as small businesses and grew into the household names they are today.

Our state is home to many more innovative startups that are working their way toward becoming the next breakthrough company. Bradford Zakes, Puget Sound Business Journal, April 11, 2014.

To read the full op-ed on how the Start-up Jobs and Innovation Act will support R&D, please click here.

When LigoCyte Pharmaceuticals was founded in 1998, the team that built the company was certain that Bozeman, with the talent available through Montana State University, would be the best place to start the company. But who had ever heard of an early-stage biotech in Montana?

If we want Montana’s R&D-based economy to continue to grow, we need our policy makers to continue to support laws that encourage the growth of early-stage innovators.

The Start-up Jobs and Innovation Act is designed to stimulate investment in growing innovators – and investment is vital to fund costly, long-term research. Under the bill, companies will be able to partner with private investors on an R&D project, bringing in important capital for groundbreaking research ongoing at small companies in Montana and across the country.

To an outsider, Montana might seem like an unlikely place for innovative breakthroughs in new medicines and vaccines. But we have an opportunity to build on our progress and become an integral part of America’s 21st century economy. I am hopeful that our Montana congressional delegation will support the burgeoning researchers and job creators here at home by endorsing the Start-up Jobs and Innovation Act. Don Beeman, Billings Gazzette, March 7, 2014.

For the full op-ed in the Billings Gazzette, please click here.

The Coalition of Small Business Innovators applauds Senator Pat Roberts (R-KS) for co-sponsoring the Start-up Jobs and Innovation Act. Senator Roberts joins Senators Robert Menendez (D-NJ) and Pat Toomey (R-PA) as supporters of the legislation.

“CSBI thanks Senator Roberts for taking this important step to support innovative pre-revenue companies,” said John Lewis, Vice President of Public Affairs at the Association of Clinical Research Organizations. “America’s economy depends on the success of job-creating small businesses, and the Start-up Jobs and Innovation Act will spur investment in growing research-centric companies.”

Read more here.

The Coalition of Small Business Innovators (CSBI) is hosting a media briefing to address the potential of comprehensive tax reform in 2014 based on recent legislative proposals and the need to simplify the tax code and eliminate specific deductions and credits while simultaneously encouraging and supporting small business innovation.

For more information on the event on Thursday, December 12th, please click here.

A new legislative proposal aims to modernize the U.S. tax code in order to stimulate investment in research and development for emerging companies.

The Startup Jobs and Innovation Act, introduced Nov. 6 by Sen. Robert Menendez, D-N.J., and Pat Toomey, R-Penn., would allow emerging companies to partner with investors through so-called research and development partnership structures. Cady McGovern, The Idaho Business Review, December 4, 2013.

For full text of this article in The Idaho Business Review , please click here.

North Carolina – especially the Research Triangle Park – is a hotbed for next-generation technology development and is among the nation’s leaders in overall employment and job creation in several emerging technology sectors. Yet despite its education and technology strengths, our state continues to trail national leaders in innovation capital.

Earlier this month, legislation that could help improve access to innovation capital nationally was introduced in Congress by Sens. Robert Menendez and Pat Toomey. Titled the Start-up Jobs and Innovation Act, the legislation would restore and expand federal tax policy designed to support capital formation among small, innovation-based companies. Our state’s congressional delegation should lend its support to the bill, which would create jobs and support R&D here in North Carolina. Sam Taylor, The News & Observer, December 2, 2013.

For the full text of the op-ed by Sam Taylor, President of the N.C. Biosciences Organizations, please click here.