Rich Bendis, President and CEO, Innovation America and Jim Jaffe, President and CEO, National Association of Seed and Venture Funds support Senator Pryor’s new legislation to encourage early-stage VC’s (also know as Angel investors) to invest in small companies that have fallen into the financial “Valley of Death” and have potential for significant economic growth and job creation.
Bendis, who also serves as the Chair of the Advocacy Committee for NASVF commented, “Senator Pryor’s legislation in providing a nationwide 25% federal income for those who invest in qualified small businesses will help stimulate the much needed early-stage capital in emerging technology enterprises.”
WASHINGTON, DC – U.S. Senator Mark Pryor today introduced legislation to encourage early stage venture capitalists, also known as angel investors, to invest in small companies that have potential for significant economic growth and job creation.
Pryor said angel investors provide entrepreneurs with capital that cannot be met by traditional bank loans, often helping businesses overcome the “valley of death” which is the stage between start-up and profitability. Citing concerns about declining angel investments due to the recession, Pryor said tax incentives will lead to new growth and industries. In 2009, angel investments led to the creation of 250,000 new jobs, or about 5 percent of the new jobs created in the United States.
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