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Tech Startups Lose Out On Fed’s Stimulus
It’s not that startups are writing the stimulus off, it’s just that most aren’t counting on it.
The $787 billion federal economic stimulus intends to favor “shovel-ready” projects that can produce immediate, though temporary, jobs.
And that means technology startups, most of which can’t put hundreds or even dozens of people to work tomorrow, are likely to miss the stimulus payouts. That’s unfortunate for the Bay Area, home to thousands of startups that could use help.
Much of the $60 billion slated for clean energy projects, for instance, is going into energy efficiency measures. But a good portion of that is flowing through existing programs — like the Home Weatherization Assistance Program.
Photo by bruno-free.
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Jaclyn on April 27th, 2009 7:53 am
That is very unfortunate that most small business start-ups wont receive any part of the bail out money. I mean…whether they can put people to work tomorrow or in 4 month’s….what does it matter? I mean really…a job is a job, granted a lot of people would benefit more if they could go to work immediately, but i doubt that even those people given the choice would not turn down work that start’s in a few month’s either.
Imee on May 6th, 2009 3:25 am
It’s sad that small business start-ups are the ones losing on the deal. With every new idea there’s always winners and losers, in this case the winners would be those looking for jobs (even if only temp ones), just to make ends meet.
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