What the CHIPS Act Has in Store for Entrepreneurs Across the Country
The CHIPS and Science Act — an initiative poised to strengthen American manufacturing, supply chains, and national security by investing in research and development, science and technology, and the workforce of the future — is officially law. But what does that mean for startups? According to SparkCharge Founder and CEO, Josh Aviv (who introduced President Biden at the bill’s signing), it gives founders the chance to build and grow businesses that aren’t at the mercy of global supply chains — businesses like his that manufacture innovative U.S.-made products in Buffalo, NY.
“As a business owner, I want to give Americans more than just a job; I want to give them an opportunity to lead our economy’s transition to clean, electrified transportation.”
The bipartisan deal will help entrepreneurs like Josh realize their visions by bolstering U.S. leadership in semiconductor production and catalyzing regional economic growth and development, with $10 billion authorized to invest in rising innovation hubs across the country.
Why it Matters: Silicon Valley never had a monopoly on good ideas or capable founders. What it had was ample funding and infrastructure. CHIPS will help close the gap, bringing real money, leadership, and opportunity to bear in tech hubs between the coasts, many of which are on the cusp of taking off.
But CHIPS isn’t just a bipartisan win or boon for entrepreneurs and ecosystems in Middle America. Like the JOBS Act, it’s a step forward in maintaining America’s edge by creating opportunities for more people, solving real problems, in more places. SparkCharge’s mobile charging solutions are a prime example of the innovation the funding will empower. The Rise of the Rest-backed startup’s plans to expand production and create more American jobs also offers a model of why legislative cooperation is critical to our economic future.
