[Congressional Record Volume 164, Number 122 (Thursday, July 19, 2018)]
[Senate]
[Pages S5095-S5096]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                     Fast-Growing Startup Companies

  Mr. PETERS. Mr. President, when you think about fast-growing startup 
companies, you might think about Silicon Valley, Boston, or Boulder. 
Though all these cities certainly have very vibrant ecosystems, 
innovative startups and small businesses are launching and growing 
across the United States, including in my home State of Michigan.
  In every State, there are hard-working entrepreneurs who have 
established job-creating startups. These dynamic companies act as 
business leaders, innovators, and job creators within our communities.
  This is why I am working with Senators Warren, Tillis, and Scott to 
commemorate Startup Week Across America and celebrate the ingenuity and 
entrepreneurship in our States and across the country. I kicked off 
this annual event in 2013 while serving in the House of 
Representatives. In the years since, I have had the privilege of 
visiting startups in Grand Rapids, Detroit, and Traverse City.
  I have met with business founders who code apps for Fortune 500 
companies, design and produce high-end jeans and other denim products, 
and grow and deliver farm-fresh products.
  This Monday I visited Ferris Wheel, a new coworking space in Flint, 
MI, a community of hard-working Michiganders who are focused on their 
future.
  The people of Flint are committed to building a stronger, healthier, 
more prosperous community, and they are

[[Page S5096]]

committed to doing it together. You can see this in their schools and 
their churches and nonprofits, and you can see this in their startups 
and small businesses.
  One of the best parts about starting a business in Flint is 100K 
Ideas, a nonprofit staffed by university students committed to helping 
entrepreneurs start their companies. This group is named in honor of 
the 100,000 residents of Flint and inspired by the thought that if they 
could pull one idea from every local resident, they could change the 
world.
  This week, I had the chance to learn about a few of these new ideas. 
I met Kiara Tyler, the founder of Kalm Clothing. She moved the 
furniture out of her apartment to make room for inventory and stocked 
boxes of overalls and track suits where her couch used to be, while 
using her car as the company's headquarters. Now Kiara has done over 
$100,000 worth of business. She is selling her clothing online, and she 
has space for her office and inventory at Ferris Wheel. Flint is her 
home, and she is excited to stay and to build her business in Michigan.
  I learned about Article One Eyewear, a company that has taken on 
office space next door to her. They sell handcrafted eyeglasses and 
donate a portion of their proceeds to combat vitamin A deficiency and 
to fight blindness in developing nations.
  I also met with SkyPoint Ventures, a true homegrown Michigan story. 
While they are a for-profit investment fund, they have also committed 
to social benefit projects and making Flint a better place to live and 
to do business. In addition to investing in companies like Article One, 
SkyPoint renovated the Ferris Building to create the Ferris Wheel 
coworking space and commit to the growing community of startups in the 
city of Flint.
  Successful business growth comes down to matching talent to capital, 
and the United States does this better than any other country in the 
world. I am proud to say that I had a chance to see this happening 
firsthand in Flint and across the State of Michigan.
  Michigan, in fact, has one of the fastest growing venture capital 
communities in the entire Nation, a critical asset that will help us 
become the startup capital of the Midwest. We have world-class colleges 
and universities, more engineers per capita than any other part of the 
country, and the infrastructure to export not just nationally but 
global as well.
  I know that if we keep pulling together as a community and harness 
100,000 ideas and beyond, Flint's future is bright. I know that 
Michigan's small businesses and startups will help to lead the way to 
new innovations that will revolutionize our economy.
  I am committed to ensuring that our growing startup communities will 
be a fixture of creativity, innovation, and job creation for decades to 
come.
  I yield the floor.
  The PRESIDING OFFICER. The Senator from Iowa.