Himes stresses benefits of jobs act to area businesses – Scania Turbocharger Manufacturer

STAMFORD — Just over a month ago, President Barack Obama signed into law the Jumpstart Our Business Startups Act, a pieceof legislation that Rep. Jim Himes , D-Conn., helped to write. Himes came to the Stamford Innovation Center on Thursday to hold a discussion with area businesses,entrepreneurs and investment experts about the JOBS Act and itseffect on the local level. “Jobs and economic prosperity are about the extent to which wecreate an amenable ecosystem for young companies,” Himes said, asthe discussion turned to how to create that sort of environment inFairfield County. Komatsu Turbocharger

One of the most talked-about points of the JOBS Act, which seeks tomake it easier for small businesses to raise capital and expand, iscrowdfunding, which allows companies to solicit up to $1 millionthrough the Web from individual investors without going through theSecurities and Exchange Commission. Companies would have work through a broker or “portal,” a “trustedvenue through which young companies will do this grass-rootssolicitation,” Himes said. “If crowdfunding can get some kind of legs in Connecticut, itstarts a buzz that there’s an interesting, sexy startup environmenthere,” Leonora Valvo , chief executive office of Norwalk-based etouches.com, said. The Internet platforms through which these transactions can be madewill be closely watched, under the regulations, but the companieswill not be regulated by the SEC. Scania Turbocharger Manufacturer

Himes noted that this aspect ofthe legislation made him a bit uneasy. “Crowdfunding grew out of a philanthropic tradition of solicitingfunding,” he said, “though, I was a little ambivalent aboutcrowdfunding clauses because it could potentially be an attractiveavenue for people with less benign intent.” The hope is that Connecticut can, with help from the federal JOBSAct and recent state legislation, build a reputation similar toPalo Alto, Calif., as a hip, startup-friendly area, as parts of NewYork City, Boston and California have. Much of this can come from putting the marketing focus on theindividual entrepreneurs, like Paul Forster , CEO of the Stamford-based Indeed.com, who are making a success oftheir start-up companies, said Anton Simunovic , founder and CEO of ThreeJars.com , based in the Southport section of Fairfield. “When you go into the (Silicon) Valley, the conversations arearound entrepreneurs,” Simunovic said. You’ve got to follow theentrepreneurs.”. Man Turbocharger Manufacturer


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