U.S. Rep. Bill Johnson (R-OH) on June 4 sponsored legislation that would require the U.S. Commerce Secretary to conduct a study on technology startup companies in an effort to spur American innovation in the tech sector.
“Over the last year, small businesses across our country were hit hard by the economic shutdowns triggered in response to the coronavirus outbreak,” Rep. Johnson said. “We’ve also seen firsthand how dependent America is on certain other countries for products and technology we require in our day to day lives, some of them adversarial, like China. This has to change.”
The study authorized under the Advancing Tech Startups Act, H.R. 3708, would identify where American innovation is being developed by tech startups and small businesses, according to a bill summary provided by Rep. Johnson’s office.
“Tapping into this wealth of American talent and intellectual capital across the nation will make us more economically self-sufficient in critical areas and ensure our supply chains will be more resilient in a global economy,” said Rep. Johnson.
Additionally, H.R. 3708 would require a Commerce Department survey to identify which federal agencies have jurisdiction over the creation, development and growth of tech startups, as well as to identify relevant interagency activities and federal rules and regulations, according to the summary. An international survey also would be required to gauge American competitiveness, as well as a survey on relevant marketplaces and supply chains that impact creation and growth of technology startups, the summary says.
“I believe we must partner with American innovators, entrepreneurs and other job creators to remove the barriers that may hinder technology and small business startups from taking root across the country,” said Rep. Johnson. “America was built by hard work and ingenuity, and we must continue to support and nurture innovation and growth in all parts of the United States, not just Silicon Valley.”
H.R. 3708 would require the Commerce Department to issue a final report to Congress and to recommend a comprehensive plan that promotes growth and development of tech startups and mitigates risk to marketplaces and supply chains, according to the bill summary.