Bill > LB999

This bill, known as the Business Innovation and Startup Commission Act, establishes the Business Innovation and Startup Commission to foster entrepreneurship, startups, and business innovation in Nebraska by providing planning, coordination, and an operating program. The commission will offer grants and other assistance to improve access to capital, commercialization, and business development services, aiming to create a comprehensive statewide innovation ecosystem. It will also collaborate with state agencies, local governments, educational institutions, and private partners to strengthen Nebraska's startup and innovation infrastructure. The commission will be composed of various members, including leaders of state innovation hubs, representatives from rural businesses, chambers of commerce, economic development corporations, investment organizations, educational institutions, key industry sectors, and community-based organizations supporting underrepresented entrepreneurs, along with non-voting members from the Departments of Economic Development and Labor. The commission's duties include developing and evaluating programs, identifying and addressing barriers to business growth, studying access to capital, examining best practices from other states, reviewing existing state programs, and making recommendations for improvements to the Governor and Legislature. A dedicated Business Innovation and Startup Fund will be created to support these initiatives, and the commission is required to submit an annual report to the Legislature detailing its activities, financial assistance, progress, measurable outcomes, and recommendations.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63377