Press Release

The Economic Innovation Group Launches to Engage Entrepreneurs and Investors in Addressing America’s Economic Challenges

Mar 31, 2015

Bipartisan Group Will Drive Policy Solutions to Catalyze Broad-Based Economic Growth

Washington, D.C. – Today, a diverse group of entrepreneurs, investors, economists, and policy experts announced the launch of the Economic Innovation Group (EIG), an ideas laboratory and advocacy organization dedicated to forging a more dynamic, entrepreneurial, and innovative U.S. economy for the 21st century. EIG will convene leading voices from the public and private sectors, develop original policy research, and work with policymakers to advance legislation designed to bring new jobs, investment, and economic growth to communities across the nation.

EIG is led by a bipartisan executive team including former Obama Administration senior economic advisor Steve Glickman and former Republican Senate aide and trade association executive John Lettieri.

“It’s time for a paradigm shift in the way we think about growth, investment, and job creation. Important voices are missing from the policy debate, and Washington is mired in the same, stale conversations,” said Steve Glickman, Executive Director and co-founder of EIG. “We’re bringing together entrepreneurs and investors who are at the vanguard of our economy to tap into their ideas, resources, and creativity to help increase economic opportunity around the country.”

EIG’s initial supporters are some of the most innovative private sector leaders in America, including: Ron Conway, legendary tech investor and founder of SV Angel; Rebecca Lynn, co-founder of Canvas Venture Fund; Sean Parker, chairman of Brigade, founding president of Facebook, and co-founder of Napster; Joseph Sanberg, co-founder of Aspiration.com and Pt Capital; Dana Settle, co-founder of Greycroft Partners; and Ted Ullyot, investor and first General Counsel of Facebook.

“It’s time for those of us in the tech community to look beyond the borders of Silicon Valley, and to think long term about solutions to broader national challenges,” said Sean Parker. “Our approach to public policy should leverage the lessons we learned as technology entrepreneurs and investors: take big risks, seek out innovative solutions, and don’t shy away from big problems.”

“The uneven economic recovery has left many communities behind,” said Dana Settle. “We need greater engagement from leaders in the private sector – not simply to advance their own interests, but to help address national challenges that go beyond the boundaries of any single industry.”

EIG has assembled a world class Economic Advisory Board led by six of the nation’s top economists, who will contribute ideas, provide expert advice, and conduct original research. The Advisory Board is co-chaired by Dr. Kevin Hassett, Director of Economic Policy Studies at the American Enterprise Institute and former advisor to several Republican presidential candidates, and Dr. Jared Bernstein, Senior Fellow at the Center for Budget and Policy Priorities and former chief economist to Vice President Joseph Biden. Other members include Dr. Steven Davis and Dr. Austan Goolsbee at the University of Chicago’s Booth School of Business, Dr. Kenneth Rogoff at Harvard University, and Dr. Matthew Slaughter at Dartmouth College’s Tuck School of Business.

“EIG inhabits a unique space in the policy ecosystem that has been vacant for far too long, bringing a fresh and entrepreneurial voice to Washington,” said Kevin Hassett, co-chair of EIG’s Economic Advisory Board. “It plans to take the best bipartisan ideas from the academic and think tank communities, and help ensure they receive the attention and support they deserve.”

“While cynics are folding up their tents and giving up on critical policy debates, EIG is engaging smart, new, optimistic voices to find ways to invest in the future and give a fair shot to those who’ve been left behind,” said Jared Bernstein.

EIG will hold its first policy event on April 15, 2015, in partnership with The Atlantic, which will coincide with the release of the group’s first white paper, authored by Dr. Hassett and Dr. Bernstein, focused on unlocking capital to revitalize distressed communities. EIG has also issued an analysis of the current state of the recovery and its lingering challenges, available here.

“Washington needs to facilitate new approaches for driving private investment to entrepreneurs struggling to access capital, grow new businesses, and create high-paying jobs,” said John Lettieri, Senior Director for Policy and Strategy and co-founder of EIG. “We know there are policymakers on both sides of the aisle who share this vision, and we intend to leverage our resources to help their ideas break through.”

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