The White House could soon finalize a proposal that would shift the venture capital investment landscape in fields like renewable energy, quantum computing, national security, and life sciences. If the plan moves ahead, high-tech entrepreneurs may not be able to raise the capital needed to develop the cutting-edge technologies of the future.
The proposal centers on the 1980 Bayh-Dole Act, which allows universities, federal labs, and businesses to file patents for any discoveries they make with the help of federal funding. Prior to the law, any patents resulting from taxpayer funding automatically belonged to the government, and billions of dollars worth of research simply gathered dust.
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