FEDERALhearing transcript

Joint Economic Committee Hearing: Barriers to Startup Funding

Original title: THE INNOVATION ECONOMY, ENTREPRENEURSHIP, AND BARRIERS TO CAPITAL ACCESS

January 1, 2019

innovation entrepreneurship capital access economic policy startups finance

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The Frame

What this does

This hearing informs potential future federal policy regarding tax incentives, IPO regulations, and lending standards that directly affect the ability of small businesses and startups to secure funding.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Startup businesses

These entities face challenges in securing seed capital and financing for new technologies.

Investors

Regulatory changes regarding IPOs and tax incentives directly impact their investment environment.

What changed

Last recorded activity January 1, 2019.

What's next

Next step not available in the current record.

Summary

The Joint Economic Committee held a hearing on July 25, 2018, to examine the challenges entrepreneurs face in securing capital for new businesses. Lawmakers and industry experts discussed how regulatory environments and financial systems impact the ability of startups to innovate and grow.

Key Facts

The U.S. ranked 11th in the 2018 Bloomberg Innovation Index.
Approximately 70% of startup businesses received less financing than they requested.
Approximately 28% of startup businesses were denied all requested financing.
The committee hearing took place on July 25, 2018, in the Longworth House Office Building.
Business lending reportedly increased by 75% following the implementation of the Dodd-Frank Act, according to slides submitted by Representative Maloney.
The hearing included testimony from representatives of NASDAQ, GlycoMimetics, and the Opportunity Finance Network.

Frequently Asked Questions

What was the purpose of this hearing?

The hearing was held to discuss the challenges entrepreneurs face in accessing capital and to explore policy solutions to encourage innovation.

Who testified at the hearing?

Witnesses included Phil Mackintosh (NASDAQ), Rachel King (GlycoMimetics), and Lisa Mensah (Opportunity Finance Network).

Why It Matters

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on IPO Modernization

The committee explicitly discussed the need to modernize IPO systems to combat the decline in public offerings, citing overregulation as a barrier.

Joint Economic Committee NASDAQ

Connected Entities

organizationJoint Economic Committee“Congressional committee hosting the hearing”Map →

personMartin Heinrich“Ranking Member of the Joint Economic Committee”Map →

personPhil Mackintosh“Global Head of Economic Research, NASDAQ”Map →

personErik Paulsen“Chairman of the Joint Economic Committee”Map →

personLisa Mensah“President and CEO, Opportunity Finance Network”Map →

personRachel King“CEO, GlycoMimetics”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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