Pallone Hosts Startup Panel in Metuchen
New Brunswick, NJ – Today Congressman Frank Pallone, Jr. (NJ-06) held a roundtable at Cai’s Café in Metuchen on how to support startups in New Jersey. Congressman Pallone is the Ranking Member of the House Energy and Commerce Committee, which oversees many important issues vital to business, including the internet. The participants included Eva Abreu, founder of Blank Space which is based in Central New Jersey, Mukesh M. Patel Assistant Professor of Professional Practice, Rutgers Business School, Steven Abreu, a Computer Science major at Oberlin College who is originally from Edison, NJ and Diana Callinan and Colleen Hanson, owners of Cai’s Café in Metuchen.
“Startups are so important to growing our economy and creating quality jobs in the 21st century,” said Pallone. “We need to be investing in technology and creating policies that help entrepreneurs succeed. I’m so thankful for the insights of those taking part in the roundtable and I look forward to bringing their ideas back to Washington.”
Congressman Pallone recently voted for the JOBS and Investor Confidence Act – which passed the House of Representatives. The bill makes a range of changes to capital formation laws, including updating the accredited investor definition which limits who can invest in most startups. The legislation will make it possible for more startups to receive funding.
Congressman Pallone is also a strong supporter of Net Neutrality, which the Trump administration recently repealed. Without net neutrality, startups that have an innovative product or service which competes with big companies, including the increasing number of services owned by or affiliated with ISPs (Internet Service Providers), have to worry about paying more to have their websites or services load as fast as their competitors. These extra connection costs would make it harder for startups to attract funding and get off the ground.