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Are the Capital Formation Programs (Angel network, Venture Capital and Tax Inceitives) in Your State Included in the Database from the NASVF?

Your help is critcally important in NASVF’s search for state-sponsored/state-assisted programs to create innovation capital for worthy entrepreneurs. Please read.

The National Association of Seed and Venture Funds staff is undertaking a large and challenging task to assemble, in one place, the variety of state sponsored or state assisted programs designed to help entrepreneurs find early stage innovation capital.

We are aware from NetNews readers that most states have a wide array of such programs targeted to commercial activity, to university technology transfer, to economic development, etc. And we, as you, are similarly aware of the statistics, which suggest robust economic growth stems from fast growing small companies, particularly, technology-based businesses.

The states have become the laboratory to test various ways to structure, implement, track and measure innovation capital programs to determine what works and what doesn’t, to what degree, and why. NASVF believes that it will be helpful to now harvest this information, assemble it in comparable, readable and understandable form so that all entities can make use of it.

NASVF has assembled a team of indefatigable, unrelenting, and diligent workers who are reaching out to the states to gather that information. We start with a pretty good database drawn from a decade of experience in the industry. Yet we know there are more capital creators, located in state departments of commerce, departments of economic development, treasurers’ offices, university tech transfer systems, etc. The ingenuity for design and location of such programs surprises us not a bit. But therein lies the challenge. Find them ALL! Gather the data. Organize it. Assemble it. And share it with ALL!

To that end we beg your assistance not only to respond to the surveys that are currently in the field, to capture key data on winning strategies for fostering innovation capital; but also to identify those programs of which we are unaware so we can get survey instruments to them, as well.

We intend to release preliminary results to national press and key policy leaders on May 18th at a State Venture Capital Symposium at the Renaissance Hotel in Washington, DC.

“This is an opportunity for states to showcase their efforts to support the new businesses and entrepreneurs who drive the new economy,“ says Sue Strommer, CEO, NASVF. “Today’s new businesses succeed by moving rapidly from a good idea to a great product to global distribution. States fill a critical gap in available finance for many of the nation’s start-ups. State leaders can reap local benefits from learning about national best practices and emerging models.”

The report is expected to show that states are natural incubators for many new venture capital programs and incentives. Fund of funds strategies, pre-seed or validation funds, angel networks, university tech transfer funds, creative tax incentives, and other innovations are taking root across the country. The final compendium of state data will be a valuable resource to policy makers, universities, economists, financial analysts, private venture firms, and entrepreneurs. The deadline for survey responses is March 15, 2006. (editor’s note: even if you fail to meet the deadline, send the survey back anyway. We expect to make this a continuing collection of such data, as the states doubtlessly will continue to create and adjust such programs to strengthen their entrepreneurial support mechanisms)

Survey Contact Information – State program managers can go directly to a survey link at http://www.nasvf.org, or may contact Lisa Walker, Research Associate, at [email protected] for more information.

Symposium Contact Information – Participation in the State Capital Venture Symposium for policy leaders on May 18 is by invitation only. For more information on the symposium (or sponsorship opportunities), contact Julie Evans at [email protected], or call 609-735-0797.

NASVF is a national non-profit member organization committed to building local economies through investment and facilitation of investment in entrepreneurial ventures. NASVF promotes industry and public policy best practices through its seminars, research and educational outreach to entrepreneurs, early stage investors, legislators and regulators.

By:
George Lipper
National Association of Seed and Venture Funds
Chicago, IL
http://www.nasvf.org/web/allpress.nsf/pages/12697

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