Coming back from my first meeting at the White House. A group of Latinx investors was invited to engage in practical conversation with several federal agencies working on entrepreneurship.
My take away is that there have been several great programs created at the federal level to help entrepreneurs and investors, in general, and underrepresented entrepreneurs and investors in particular. Among them are the new SBIC and SSBCI programs, the Chips and Science Act, Regional Innovation Clusters, Regional Innovation Engines, Opportunity Zones, The Growth Accelerator Fund Competition, etc.
However, sometimes these programs fail to achieve their full potential and fall short. Large amounts of money are provided, but the rules put in place to dole them out get in the way of equitable access and efficient distribution. There is little or no coordination across programs, therefore the problem gets compounded and goals become harder to reach. Sometimes it feels that allocations of funding to different sectors and different regions of the country are done without sufficient thought and planning.
We have a significant opportunity to help push further up many vibrant communities throughout the entire country. Many great federal programs are already in place and, with a little coordination, they can have a greater impact. State pension funds have an opportunity to generate alpha and help their regional communities.
A little more organization, creativity and coordination will go a long way to do this in a more impactful way. The dollars that entrepreneurs need to make a significant impact in the economy are minimal compared to the economy as a whole. This is a very worthwhile investment.
Other participants in the conversation included: Tom Perez, Taylor Wright, Janis Bowdler, Bailey DeVries, Justina Gallegos, Marcelo Claure, Nina Vaca, Beto Pallares, Tom Soto, Dr. Mariela Salas,Noramay Cadena, Arturo Sneider, Adrian Mendoza, Senofer Mendoza, Laura I. Maydón, Jorge M. Calderon, Vincent Cordero, Marcos Gonzalez, José Luis Silva Vázquez, Elian Savodivker, Milton Berlinski, Alejandro Guerrero, Adela Cepeda, Roman Leal, CFA, Pete Amaro, Danny Navarro, Lili Gangas, Antonio Tijerino, Herman Goihman