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Creating a National DeepTech Capital Fund
Summary
The Biden-Harris Administration should establish a National DeepTech Capital Fund (NDTC Fund) to bridge capital gaps and enable more DeepTech entrepreneurs to bring promising and beneficial technologies to market.
Greater investment in DeepTech is critical in order to return the United States to the forefront of advanced science and technology research and development (R&D). “DeepTech” refers to companies and innovators building science-based, or R&D-based, products and services including hardware and advanced materials, robotics, manufacturing, and biotech. U.S. government investment in technology has declined by two-thirds in the past decades. Private capital typically eschews investment in advanced technologies, due to a combination of the additional expertise needed for and risks inherent to advanced-technology investment. Silicon Valley’s early days were cushioned by government risk capital at a time when the private sector could not see the value of investing in R&D. But relying entirely on Silicon Valley to drive investment in innovation has led the U.S. to a point where it risks being replaced by other innovation centers such as China. A National DeepTech Capital Fund would encourage and enable investment in companies building solutions to society’s greatest challenges, while ensuring that the United States remains at the center of global innovation.
Congress should foster a more responsive and evidence-based ecosystem for GenAI-powered educational tools, ensuring that they are equitable, effective, and safe for all students.
Without independent research, we do not know if the AI systems that are being deployed today are safe or if they pose widespread risks that have yet to be discovered, including risks to U.S. national security.
Companies that store children’s voice recordings and use them for profit-driven applications without parental consent pose serious privacy threats to children and families.
Privacy laws are only effective if they include civil rights protections that ensure personal data is processed safely and fairly regardless of race, gender, sexuality, age, or other protected characteristics.