As the credit crunch eases for small businesses in general, the Treasury Department today turned its attention to the needs of startups, especially the high-growth companies that are responsible for most of America’s net new jobs.
The agency invited entrepreneurs, venture capitalists, and bankers to its headquarters next to the White House for a six-hour brainstorming session on access to capital. The conference, said Treasury Secretary Timothy Geithner, “is an opportunity to find solutions that run from the traditional—such as tax incentives and direct lending—to the innovative and alternative, such as creating a way to efficiently pool investments in small companies.”
“The financial crisis caused a great deal of damage to the capacity of innovators to access capital, and we can't promote innovation and investment in the United States unless we help these innovative companies get the funding they need to succeed,” Geithner said.
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