January 27, 2009


“The New America Entrepreneur Fund”

Creating a Culture of Creativity and Innovation-Back to basics, the way America was Built


Federal Investing in American start-up companies that create technology, innovation and employment


In the past, American entrepreneurial efforts have been funded by family, friends, Angel Investors and Venture Capitalist (VCs).  These investors have enabled the growth and expansion of new idea’s, technologies and companies that have changed the landscape of business worldwide. Examples of business that have benefited from the support of early investors are: NCR, GE, Ford, IBM, RCA, HP, Motorola, Fairchild, Intel, Oracle, and Yahoo.

With the economy in its current state, this type of investor support is nearly non-existent. This not only wipes out the entrepreneurial spirit that our country was founded upon and has thrived upon but also raises the question of how does our nation step up to the current economic crisis given the shortage of investors?  How does our nation sustain and grow an economy when cutting edge, knowledge jobs and meaningful employment are becoming extinct? How does this nation re-create the hope the entrepreneurial spirit has so steadfastly inspired in times past?

In the 1930’s Roosevelt implemented the WPA with the intention of stimulating the depressed economy, strengthening our nation’s infrastructure, and creating lasting skilled jobs.   While the WPA did not accomplish these goals alone, it was a vital part of the Roosevelt plan.  When determining how to revitalize today’s economy it is imperative that we look at our nation’s history, understand where we have missed the mark and identify how we can keep jobs, skills, knowledge creation, creativity and INNOVATION here in the US.


Currently, as mentioned above, start-up capital is no longer available through the traditional channels of family, friends, Angel Investors and VC’s because the easy path to liquidity no longer exists.  Americans have become accustomed to the easy cash and easy ROI of the past decade generated by financial speculation, real-estate and other types of financial instruments.  Our nation’s new economy causes hesitancy in making early “start up” investments.  This hesitancy may help “right” the economy, but long term it is not the path that will create the technology, the skill, the jobs or the companies that will take our nation back to economic prosperity.


To “right” the ship of our nation, the Federal Government needs to set the example of investing in innovative and technologically driven start-up companies.  The concept is that of a “start-up investment bank/fund” being established by the Federal Government.

The responsibility of this “bank/fund” would be that of assessing the viability of early start up technologies/ideas and providing the “seed” money to grow. The “bank/fund” would incorporate similar assessment models that VC’s and investors have used to determine the risk potential of startup companies in the past.  The process of assessment includes analyzing the idea, business model, product validation, product potential (depth and breadth), time to market, team strength and exit strategy risk.

The key to success with the New America Entrepreneur Fund is the identification and funding of proposals that help lead our nation onto the next technology wave.  The New America Entrepreneur Fund will have the obligation to consider ideas and products that have the potential to revolutionize the way in which our nation behaves.

Ford, GE, Intel, and Apple are just a few examples of companies that received “seed” money to expand their technology/ideas that created products before a “need” existed.  Our nation did not need the automobile, nor did it need a “chip”, nor did it need a computer. However, our nation accepted these products, technology grew, skilled jobs were created and “me too” companies started up.  The “seed” money created the ripple effect, which will be created when the New America Entrepreneur Fund is created.


Technological ideas/startups are not going to save our failing economy.  Technology will however, drive our nation forward and continue to lead us to economic leadership.  The New America Entrepreneur Fund will need the guidance of seasoned VC’s, bankers, technologists and academics.  Every university must be challenged to submit their emerging technologies, their next big idea.  Every garage based science experiment should be encouraged.

Creating excitement, hope, promoting education and fostering entrepreneurial spirit will return the spirit that this country was founded upon.  The New America Entrepreneur Fund would capitalize on our nation’s strength and would clearly demonstrate that the new national leadership is willing and committed to invest in American entrepreneurs.

If this concept is of interest, we can provide more insight.  Both of us have been in the startup space for many years, have benefited from “seed” money investment, created new products based on new technologies and thus created employment and the experience of the American dream of being an Entrepreneur.

Jeff Curtin                            Alan Steinberg
408-655-7399                            602-300-2851



  1. billdaul Says:

    In addition to the above proposal from “Jeff Curtin” :

    BTW, if you have any comments or suggestions about the document let me know. I have also CC’d Alan Steinberg , my co-creator of this proposal.

  2. billdaul Says:


    I really appreciated the thought and how concise your proposal is. It is easy to understand.

    You reminded me that IBM research centers pride themselves in innovating technologies that intentionally 10 years ahead of when they are needed.

    We should talk with the appropriate people at IBM such as Jim Spohrer.

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