With its legislative agenda for job creation stuck for the foreseeable future, the Obama administration has turned inward, looking to the federal bureaucracy for new ways to jump-start the economy.
Lately its gaze has settled on the Small Business Administration. Yes, it has proposed merging the S.B.A. into a much bigger government agency dedicated to business and trade. But an arguably more consequential decision came in December, when the S.B.A. unveiled a new $1 billion program to invest in young companies by loaning money to venture capital funds. Unlike the reorganization, which faces long odds in coming to pass, the new investment program, part of the administration’s Startup America campaign, is likely to commence this spring. But what remains unclear is whether it can win over the venture capital industry that it is meant to assist.
To read the full, original article click on this link: S.B.A. Readying Program to Invest in Start-Ups - NYTimes.com
