Innovation America Innovation America Accelerating the growth of the GLOBAL entrepreneurial innovation economy
Founded by Rich Bendis

Once again, Richard Bendis spoke with the Wall Street Journal.  In her article, Federal Aid Sought for Equity-Backed Companies, Kelly K. Spors covers the growing initiative to invest in innovative companies.

"There needs to be a balance" when handling the financial needs of "Main Street businesses and innovation entrepreneurs, and I think the SBA is capable of serving both," says Rich Bendis, chief executive and president of Innovation America, a Philadelphia-based nonprofit that works with investor groups.

"In December, Innovation America and the National Association of Seed and Venture Funds pitched to members of the Obama transition team a plan to create a government-funded $1 billion seed fund that would shore up angel-investing groups and regional early-stage equity investment programs, which provide equity investments to start-ups. He says the new administration seemed receptive to the idea, but has not moved forward on the proposal."

Federal Aid Sought for Equity-Backed Companies, Kelly K. Spors of the Wall Street Journal