The Growth Accelerator Fund Competition provides important support to startup accelerators, which in turn support startups that contribute to the U.S. economy. Extending the Growth Accelerator Fund Competition is a no-brainer. Without federal intervention, it’s likely that startup funding will remain too concentrated in Silicon Valley and New York, leaving large swaths of the country behind.
Given the amount of money private sector tech and startup investors have to invest, it’s unnecessary to spend taxpayer money on funding the Growth Accelerator Fund Competition. The federal government should step aside and let private sector investors and established accelerators, such as Y Combinator, fill in the gap.