As the federal government pulls back on its spending, threatening the strength of the Washington area recovery, interest is growing in nurturing entrepreneurs and young companies that might one day pick up the slack.
A multitude of organizations across Maryland, Virginia and the District have made it their mission to cultivate and advance this group, often with the idea that they will produce high-growth companies and create jobs that in turn generate tax revenue.
This week marks the one-year anniversary of the Startup America Partnership, a national initiative created by President Obama and chaired by former AOL chief executive Steve Case that aims to promote private-sector investment in entrepreneurship.
Three regional chapters of the partnership are preparing to lay down roots. Groups in Virginia and the District will officially kick off their efforts Tuesday, with Maryland slated to follow shortly thereafter.
The Startup America Partnership began to form regional outposts across the country in the middle of last year to spur the creation of fast-growing companies in areas beyond established hotbeds such as Silicon Valley, New York and Boston.