Chairman Schweikert Hosts Innovation Sandbox Roundtable at Hoover
WASHINGTON – On Thursday, August 13, Chairman David Schweikert convened a Joint Economic Committee roundtable at the Hoover Institution at Stanford University to examine how regulatory sandbox pilot programs can reduce barriers to innovation, facilitate responsible experimentation, and inform more effective regulatory policy.
The roundtable, titled “Lowering Barriers to Innovate: Regulatory Sandboxes and the Federal Government’s Role,” brought together Members of Congress, private-sector representatives, and scholars from the Hoover Institution.
Participants discussed how regulatory sandboxes create localized, time-limited, and supervised environments in which businesses, researchers, regulators, and other stakeholders test innovative products, services, and business models under defined parameters. The discussion examined how these programs can reduce regulatory uncertainty and initial compliance barriers while preserving appropriate consumer, health, safety, and financial protections.
“Regulatory barriers, along with unreasonable tort liability, is costing innovators potential investment. As we look to reforms, we also need to look at how all the players interact with each other, from researchers to regulators to practitioners, to ensure we are laying the groundwork for implementation of new and proven innovations. Sandboxes and pilot programs are proving grounds to highlight and more broadly adopt best practices,” said Chairman Schweikert. “We are approaching a fundamental choice: cut or innovate. Too often, cutting or capping what already exists is easier than pursuing disruptive technologies that can lower costs, improve outcomes, and challenge entrenched business models. The technology is there; we just need to provide the environment to allow for capital investment to bring these new technologies to the market.”
The roundtable participants also discussed the appropriate role of the federal government in supporting regulatory sandboxes, including approaches to interagency coordination, information sharing, technical assistance, regulatory flexibility, and cooperation with state and regional programs.
They also highlighted lessons from existing state programs, including regulatory sandbox initiatives, as well as federal pilot programs. The discussion addressed key policy questions such as participant eligibility, the duration and scope of regulatory relief, reporting requirements, consumer protections, and procedures for responding to unexpected risks.
A recording of the roundtable is available here.
Participants:
Rep. David Schweikert, Chairman, Joint Economic Committee
Dr. Kevin A. Schulman, Professor of Medicine; Associate Chair, Department of Medicine; Deputy Director, Clinical Excellence Research Center
Stanford University School of Medicine
Stanford, CA
Dr. Sandra Waugh Ruggles, Director, Policy Research
Stanford Biodesign Policy Program, Stanford Mussallem Center for Biodesign
Stanford, CA
Dr. Robert (Bo) Wood, Director, Regulatory Relief & Research
Utah Governor’s Office of Economic Opportunity
Salt Lake City, UT
Dr. Patrick A. McLaughlin, Research Fellow
Hoover Institution, Stanford University
Stanford, CA
Dr. Allison M. Okamura, Richard W. Weiland Professor in the School of Engineering; Professor of Mechanical Engineering
Science Fellow, Hoover Institution
Stanford University
Stanford, CA
Dr. Joshua Makower, Yock Family Professor of Medicine and Bioengineering; Director, Stanford Biodesign
Stanford University
Stanford, CA
Dr. Rachel Slaybaugh, General Partner
DCVC
Palo Alto, CA
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