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Colorado venture capital bill passes legislative committee
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A bill that aims to increase the availability of venture capital for startups has gained traction in the Colorado Legislature.
Known as the Colorado Entrepreneur Act, the bill passed the Senate Business, Labor and Technology Committee by a 5-2 vote Wednesday. Sponsored by Sen. Rollie Heath, D-Boulder, the measure would establish a venture capital advisory board to review obstacles facing the state and develop methods to boost access to capital, according to a statement from the state Senate Majority Office.
The board would report to state leaders on current venture capital levels and similar programs in other states. It also will identify steps that can be taken to back investment in Colorado.
"By not investing in venture capital we are putting Colorado at a competitive disadvantage," Heath said in the statement. "Our economic future rests on our ability to attract venture capital to bring in new industries and help business in Colorado thrive." |
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