Angels Fight!

As blogged yesterday, the Angel Capital Association has been working hard to address the issues in the Senate financial reform bill that affect angel investors and entrepreneurs. You can keep track of the issues, overall activity and our progress on ACA's Web site, ACA has posted a WSJ editorial that certainly caught many people's attention.

ACA's Executive Director Marianne Hudson said, I want to let you know that we have made some good progress in Washington, DC including working with the bill's author, Sen. Christopher Dodd - who plans to promote two amendments on the Senate floor to greatly improve the bill. ACA has published its statement of support for these amendments on their Web site for more information.

We greatly appreciate the work many of you have done to contact your Senators and policy makers about these issues. You have made a huge difference!

It is important, though, that angels continue the fight! You can link to our Senators here.

Dodd Needs an Angel

Lost in the national press’s attention to the Dodd financial reform bill has been any attention to what it does to angel investing. Angels are building the kinds of companies that represent the majority of net new jobs in the United States and this is exactly the wrong time to hinder that in any way.

For those of you who have not yet had the opportunity to review the related materials, look to the ACA Web site. Essentially the bill's current language recommends significantly increasing the thresholds for accredited investors.

Two issues would affect angels and entrepreneurs seeking angel financing:
1. A 120-day waiting rule before money can be put into a small business—good luck surviving,
2. Doubling of the investor requirements to $449,000 income and $2,250,000 net worth, increased for inflation every 5 years.

ACA has been the lead advocate for angels and the entrepreneurs who are REALLY the audience that would be affected and have been very involved in negotiations to improve the provisions of the bill with the Senate Banking Committee.

ACA is cautiously optimistic that the bill will include much improved provisions. Democrats plan to call for a vote to try to block a Republican filibuster that could prevent formal debate from starting on the bill, under development for months now. Sixty votes are needed to invoke "cloture," blocking a filibuster.

Democrats control 59 Senate votes and would need at least one Republican vote for cloture to proceed. It does not currently appear they have the 60 votes for cloture to avoid a Republican filibuster.

Washington's Innovation Summit 2010

Hope you enjoyed the first time in Tacoma Washington Innovation Summit last Friday.

Here's a link to numerous photos of speakers, panelists, exhibitors - and only one crowd shot for the luncheon address.

Our thanks to the Washington Technology Center and the many hosts and sponsors that brought this special event to our community.

Washington's Innovation Summit 2010

I look forward to seeing you tomorrow!

There are 272 pre-registered attendees.

Please note the following speaker changes made after our program book went to press:

• Added to the morning Welcome: Congressman Jay Inslee, U.S. House of Representatives, State of Washington, First District
• New moderator for the morning Aerospace session: Bill McSherry, Director of Economic Development, Puget Sound Regional Council; Special Advisor to Governor Gregoire
• Additional speaker added to the morning Defense session: Jayne Shelton, President, Isotron
• Speaker replacement in the morning Defense session: Irvine Alpert replaced by Tina Gonsalves, Sr. Director Creative and Brand Strategy, Onvia

An updated agenda and speaker biographies can be found here.

Washington's Innovation Summit 2010

Washington's Innovation Summit 2010 is Friday! Online registration ends Wednesday April 7.

Register now to avoid the lines for on-site registration April 9th at the Greater Tacoma Convention and Trade Center. Plus, register online and you'll receive the event attendee list* to help you make connections at the Summit.

*The attendee list will be distributed Thursday April 8th to registered attendees; list includes only those attendees who opt in to sharing their contact information.

Comments Open on 2nd WAve of Broadband Applications

Washington’s Department of Information Services informs us the state’s 2nd wave broadband stimulus review process begins today.

You have an opportunity to submit written comments about an application submitted by a Washington company or organization for federal funding under the National Telecommunications & Information Administration’s (NTIA) Broadband Technology and Opportunities Program (BTOP).

Here is the link to NTIA’s Database of BTOP Applications:

The Deadline is 5:00 pm on Thursday, April 8, 2010.

PLEASE BE ADVISED THAT COMMENTS SUBMITTED PRIOR TO OR AFTER THE TIME PERIOD ALLOTTED WILL NOT BE INCLUDED IN WASHINGTON’S STATE BROADBAND REVIEW PROCESS.

Comments are limited to the scope of the questions below. Any comments that exceed the scope of the questions will be redacted and disregarded.  The questions are:

1. If overbuild is an issue, then the commenting party should provide information on the adequacy of service to that area. Please describe in detail the services provided today, or any future plans to provide service, including but not limited to the location, speed, and price of such service and the community anchor institutions currently served or not served.
2. With respect to the adequacy of the application, please provide a detailed explanation about how the application meets or does not meet the requirements of the 2nd wave broadband stimulus NOFA.

You are limited to 5 pages, on 8x11 paper, double-spaced; not including the cover page. Any additional pages will be removed from the review process.

The cover page should provide the following information:

• Name of Commenter
• Name of application you are commenting upon
• Date of your submission
• Contact person, email and phone number for any questions

Group Filings

Parties that decide to file as a group may file comments up to 10 pages, on 8x11 paper, double-spaced; not including the cover page. Please note that an individual commenting party may not also participate in a group filing. In that eventuality, the individual commenting party’s filing will be disregarded.

When comments are accepted, written responses must be either mailed with return/receipt or submitted by hand delivery to the attention of Angela Wu, Broadband Policy and Programs Manager at Department of Information Services, 1110 Jefferson St., SE, PO Box 42445, Olympia, Washington, 98504-2445. The office is closed by 5:00 p.m.

If you have questions about this Notice, please contact Angela Wu or 360-902-2983.

Washington's Innovation Summit 2010 Clean Tech Open

Richard Gustafson emails to highlight the opportunity at the WA Innovation Summit on April 9 for emerging Cleantech Companies to learn more about the Northwest Clean Tech Open (CTO). CTO will be making a presentation at next Week’s Innovation Summit on what the CTO is about and how to submit promising new clean tech companies into this business competition.

Attached is an overview of the Clean Tech Open and in summary:

• The mission of the Cleantech Open is to Find, Fund and Foster the big ideas that address our most urgent energy, environmental, and economic challenges,
• Clean Tech Open is a growing national program holding regional competitions, and
• Participants in this competition receive a unique blend of Mentoring, MBA level workshops, Opportunities to win a “Start-up in a box” professional services and cash prizes for regional and national winners.