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Washington, D.C. – Today, the House of Representatives passed legislation introduced by Congresswoman Kyrsten Sinema (AZ-09) and Congressman Steve Chabot (OH-01) to reduce the regulatory burden on Arizona startups and small businesses.
“Arizona’s innovative small businesses should have every opportunity to grow and succeed,” said Congresswoman Sinema. “This bipartisan solution provides a clear path for startup businesses to connect with angel investors and venture capitalists without the burden of unnecessary regulation and red tape. Arizona is a great place to do business, and I will continue working with my colleagues on both sides of the aisle to help our economy thrive.”
The Helping Angels Lead Our Startups (HALOS) Act clarifies confusing regulations that prevent small businesses from participating in “demo days”, or business plan competitions, startup days, innovation summits, and other public forums. Demo days provide important opportunities for startups to share their business plans with angel investors, business experts, and other entrepreneurs who can help turn innovative ideas into reality and create good-paying jobs.