White House blog: Obama's American Jobs Act, innovation, and crowdfunding

Over at the White House blog, Tom Kalil and Aneesh Chopra look at Obama's American Jobs Act in the context of innovation, entrepreneurship, and crowdfunding, including a link to the iPhone 4 Tripod Mount & Stand project on Kickstarter. That's the one that had a $10,000 goal and ended with $137,417 pledged. From the White House (photo by Scott Beale / Laughing Squid):


America's most innovative companies need equity capital to grow and hire faster. As part of the President's Startup America initiative, the Administration will work to unlock this capital through smart regulatory changes that are consistent with investor protection. This means reducing the disproportionately high costs that smaller companies face when going public, as well as raising the cap on "mini" public offerings (Regulation A) from $5 million to $50 million. It also means responsibly allowing startups to raise money through "crowdfunding" – gathering many small-dollar investments that add up to as much as $1 million. Right now, entrepreneurs like these bakers and these gadget-makers are already using crowdfunding platforms to raise hundreds of thousands of dollars in pure donations – imagine the possibilities if these small-dollar donors became investors with a stake in the venture. Steve Case, chairman of the Startup America Partnership, noted after he joined the First Lady as a guest at the President's speech, that "High-growth entrepreneurial businesses have been responsible for nearly all of the net jobs created in the last three decades – so policies that make it easier for entrepreneurs to start and expand companies must be at the epicenter of any jobs effort. While Republicans and Democrats don't seem to agree on much these days, they do agree that entrepreneurs hold the key to a bright economic future. Therefore, I hope both parties will put politics and partisanship aside, and work together to ensure the success of the next generation of great American companies."

"The President's American Jobs Act: Fueling Innovation and Entrepreneurship"