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The importance of the US startup ecosystem It's clear during the epidemic: Many of XO us rely on new technologies that have been developed over the past decade. including revolutionary vaccines and testing equipment State-of-the-art video conferencing software that allows workers

Efficient and young learn online and financial technologies that allow restaurants and other small businesses to move their operations online to survive.As we enter the period of national recovery. High-tech startups and venture capitalists supporting them. It is poised to play a key role in creating high-paying jobs across the country.

These jobs can be created both in traditional US technology centers. and regions affected by the decline in production Venture capitalists also help build and deploy technology. (Think advanced computer chips and electric car batteries) that boost America's economic competitiveness with China and help deal with the climate crisis.

All of these are key goals of Biden's management's ambitious new program.But these worthy goals may be hampered by policies that disregard the unique business models of high-tech startups. We have to realize that we are in an increasingly intense global competition. in innovation Share of global venture capital to US companies It has declined sharply over

the past two decades, from 84% in 2004 to 51% last year, as venture capital plays a huge role in economic value creation. This includes new jobs, innovation, economic growth. and tax revenue We therefore have to readjust our efforts so that the United States Positioned as a global leader in innovation and research and development