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Thursday, July 11, 2013

 9:41 AM 

Baldwin unveils first Senate bill

U.S. Sen. Tammy Baldwin today announced the introduction of the Small Business Innovation Act of 2013, her first bill authored as a member of the Senate.

The measure would expand the Small Business Administration’s authority to provide leverage to Small Business Investment Companies, as well as authorize a separate SBIC fund to provide equity financing to support early stage firms within targeted growth industries.

The bill also includes preference for startups that have previously shown promise by receiving grants from the National Science Foundation, National Institutes of Health, or Small Business Innovation Research program.

The legislation would include biotechnology and life sciences, which were excluded in the state venture capital bill lawmakers approved this summer.

In a statement, Baldwin says the measure will help fuel small business job creation by increasing access to venture capital.

"When our startup small businesses grow, Wisconsin families get ahead and the economic security of the middle class is strengthened," said Baldwin, D-Madison. "In order to build long-term economic growth, we need to make a strong commitment to supporting investments in advanced manufacturing, innovation, science, research and technology."


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