SVB Perspective: Why We Believe California's Prop. 23 is Bad for BusinessOctober 08, 2010 Posted by: Mary Dent
In the United States, we often undervalue the role good policy can play in helping to support nascent industries that promise significant growth. If entrepreneurs and investors are going to devote years of their lives and tens or hundreds of millions of dollars to develop and commercialize transformative ideas, they need stable, clear policies they can count on. This is particularly true in sectors like clean technology and life sciences, in which a significant amount of capital and time are required to move from R&D, through technology development, to manufacturing and deployment at scale.
The United States currently has a patchwork of state and local clean energy policies. On the federal front, policies are temporary and unpredictable. While other countries have enacted strong policies that promote the clean-energy economy as an area of opportunity, U.S. investors and entrepreneurs are still waiting to find out the rules.