GOP Launches Innovation Fund to Match Democrats

“Startup Caucus, which is billing itself as a Republican venture capital effort, will announce on Tuesday that it will give $25,000 in seed funding to six early-stage tech companies. It also plans to provide the startups with a 12-week training and support program,” Politico reports.

“The fund is intended to provide Republicans with an answer to Higher Ground Labs, a Democratic tech incubator that has helped to bankroll a wave of liberal startups. Higher Ground Labs, whose financial backers include LinkedIn founder Reid Hoffman, supplied more than $5 million in seed funding during the 2018 midterms and recently announced plans to invest over $10 million during the 2020 campaign.”