Conservative lawmakers have blamed diversity programs for problems in business and even the Baltimore bridge collapse in March.
Colorado Attorney General Phil Weiser and Access Mode CEO Zaneta Kelsey join entrepreneurs for a day of business pitches from startups., is one of 14 Colorado businesspeople who have signed a letter urging congressional leaders to pass two bills that would increase the entrepreneurs’ access to capital. The July 17 letter to members of the Senate Committee on Banking, Housing and Urban Affairs was endorsed by roughly 100 people from 25 states.
“Regardless of where you sit with your politics, you look forward to seeing new jobs from these businesses. You want to see them grow so they can contribute to the economy and jobs,” Kelsey said. “The more innovation that we have in our country, the stronger we will be. The more potential there will be for an economic upside for everybody.”
One bill backed by the business organizations would create a new tax credit for private-sector investors making equity investments in or long-term loans to community development financial institutions. Those institutions provide credit and other financial services to underserved markets and populations.from $10 million to $50 million and double the number of permitted investors from 250 to 500. The goal is to encourage greater diversity among investors.
The enterprise provides mentoring, funds and other resources to entrepreneurs of color who are at the prototype stage.
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