Saturday, February 5, 2011

White House White Board: Austan Goolsbee on Startup America, Includes Transcript

In this edition, Austan Goolsbee, Chairman of the Council of Economic Advisers, explains how the new Startup America program will help entrepreneurs overcome what’s often called the “valley of death” on the way to success and help America win the future.

Now everyone knows that some of the biggest and greatest companies in the United States, employing hundreds of thousands people, started out in some version of their garage with an idea. And over a 13-year period that had the data, those start-up new companies, created over 40 million jobs. They have the great engine of our growth, and all across the country people we talked to have raised issues that start-ups have trying to get to big companies, they have to cross, what in business they referred to as, valley of death. Which includes serious of problems like getting access to getting Capital and other things that they need to grow.

For them, the President outlined Startup America Program. Startup American is an ambitious effort that rolls private sector with the federal government to try to get the small businesses what they need. We've talked to hundreds of small business owner around the country.

The federal government going to be contributing four components to try to build the bridge across the valley of death.
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