On Friday, February 21, 2025, Georgetown University hosted its third annual “Venture in the Capital” Summit, a student-led conference exploring the intersection of venture capital, entrepreneurship, and public policy. A highlight of the event was the session titled “From Code to Policy: Connecting Silicon Valley and D.C.,” featuring Washington, D.C. Mayor Muriel Bowser in conversation with Georgetown student and VITC co-organizer Drew Peterson. The discussion centered on Bowser’s strategic initiatives to attract tech jobs and innovation companies to the nation’s capital.

D.C’s Tech and Innovation Advantages

Bowser emphasized that D.C.’s rich talent pool is a significant draw for tech companies. “The biggest reason is because of the talent that is here, and we’re very proud that people with big ideas want to live and work here and start businesses here,” she stated. She highlighted the city’s livability, citing factors such as excellent schools, vibrant sports and arts scenes, parks and diverse neighborhoods as key attractions for potential residents and businesses.

D.C.’s proximity to other major employment centers and its role as a hub for federal government innovation were also noted as advantages. “We are a big, small town and just a train ride away from other major employment centers,” Bowser remarked. She pointed out that the federal government – the city’s largest employer – has been a catalyst for innovation in various sectors, which in turn attracts and retains talent in the region. At the same time, with federal government jobs in decline, the city is looking to diversify its talent base.

Attracting Tech Jobs and Innovation to D.C.

A cornerstone of Bowser’s strategy is the recently launched DC Venture Capital Program, a $26 million initiative funded by the U.S. Treasury’s State Small Business Credit Initiative. The program aims to support early-stage, D.C.-based tech companies with a focus on underrepresented founders. “We want workers, companies, and investors to know this is a big focus in D.C.,” she affirmed. The fund is designed to leverage public dollars to attract private investment, doubling local startups’ total funding to a minimum of $52 million.

VITC co-organizer Devon Pasieka explained the importance of Bowser’s participation, saying, “With the launch of the $26 million D.C. Venture Capital Program, she’s made a real commitment to fueling the city’s startup ecosystem and ensuring that more great companies can grow right here in D.C.”

Addressing the relationship between government and the tech industry, Bowser acknowledged the need for regulatory reforms to keep pace with contemporary commerce. “In some ways, government gets a bad rap on regulation, but in others, the reputation is justified,” she noted. She shared an example from the beauty industry, where outdated regulations did not align with modern business models, underscoring the importance of updating policies to support innovation across various sectors.

Recognizing that affordability is a critical factor for attracting and retaining talent, Bowser highlighted the city’s efforts to increase housing availability. As of July 29, 2024, the District surpassed its goal of delivering 36,000 new homes by 2025, a target set in 2019. “One of the big things we need to do is make sure D.C. is affordable. We’re competing with other regions for great talent,” she emphasized, alluding to Silicon Valley and Austin. The city’s robust public transportation system and investment in amenities further enhance its appeal to employers and employees.

Tech Policy and Economic Growth

Bowser stressed the importance of proactive engagement in business policy discussions. “Being engaged in policymaking is key. Not just at the end when we’re trying to figure out the regulations, but how are we setting up an ecosystem to support business,” she explained. This collaborative approach aims to create a conducive environment for business growth and innovation.

Despite budgetary challenges, Bowser committed to strategic investments that promote economic growth. “Even in a tough budget, I will be making strategic investments to promote growth. But at the same time, I may be making tough decisions on programs that aren’t doing as well,” she stated. This focus ensures that resources are allocated to initiatives that generate jobs, housing, and revenue for the city. It recognizes that when business does well, the city can reinvest in quality-of-life initiatives like public transportation and parks that attract tech jobs and workers.

Embracing Tech and Innovation Advancements in D.C.

Looking ahead, Bowser discussed the potential impact of autonomous vehicles in D.C., mentioning a funded pilot program near The Wharf. “While we’re very focused on that innovation, we’re very concerned about traffic safety,” she noted, indicating a balanced approach to embracing new technologies while ensuring public safety.

“As hard-tech startups surge and efforts to bolster government initiatives proliferate, entrepreneurs are increasingly looking to elected officials for support,” Peterson said, referencing the D.C. Venture Capital Program as one example. “Her recent partnership with Georgetown alumnus Ted Leonsis and Monumental Sports to revitalize Gallery Place-Chinatown exemplifies the impact public-private partnerships with engaged entrepreneurs can have on their local communities.”

Bowser’s participation in the VITC Summit underscored her administration’s multifaceted approach to transforming Washington, D.C., into a premier hub for technology and innovation. Through strategic investments, regulatory reforms, and a focus on quality of life, the city aims to attract tech jobs and innovation talent, foster economic growth, and position D.C. as a leader in the tech industry.

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