The Coalition of Small Business Innovators (CSBI), a strong advocate for private investment in small companies, is taking another step through its support of the COMPETE Act. This act, introduced by Senators Tom Carper and Pat Toomey, addresses and “reforms the rules to improve the process investors must undergo to enter into partnerships with early-stage, R&D companies,” according to the organization’s press release.
The CSBI is a national coalition of organizations that encourages investment in small companies, aiming to develop innovative, life-altering technologies. Members of the CSBI include the Advanced Medical technology Association (AdvaMed), Biotechnology Industry Organization (BIO), Commercial Spaceflight Federation (CSF), Fuel CelL & Hydrogen Energy Association (FCHEA) and the National Venture Capital Association.
Dedicated to obtaining support for small businesses, the CSBI works to educate lawmakers and the public on small businesses’ potential to solve global economic, environmental and societal issues by working to advance research, development and manufacturing of technologies. “These growth-stage innovators are advancing cutting-edge science, creating breakthrough products, and supporting high-quality jobs. Small business innovators face an uphill climb to raise the capital to fund their groundbreaking R&D“
The CSBI promotes that small business innovation can improve American global competitiveness and accelerate the growth of the U.S. economy, so their main objective is to amend the U.S. tax code by encouraging lawmakers to recognize innovation as a crucial component of American economy. The coalition argues that tax reform should encourage investors to finance businesses that need a boost through the pre-revenue stage of growth.
In addition to supporting the COMPETE Act, the CSBI strongly supports the Start-Up Jobs & Innovation Act, PARTNER Act and more. To learn more about the CSBI, visit http://smallbusinessinnovators.org/page.asp?id=19
