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Minnesota start-ups have new tool to lure capital: the angel tax credit
Raising cash to fuel a start-up business is always a challenge — one that became next to impossible during an economic downturn.
With the economy in a slow rebound, there’s no shortage of young businesses looking for investors. The latest tool Minnesota start-ups have to lure capital is a tax credit for angel investors — typically high net-worth individuals who roll the dice and put money into companies trying to get off the ground.
In the program’s first year in 2010, 67 companies raised a total of $28 million using the tax credit. It’s a modest sum even compared with the ever-thinner slice of U.S. venture capital that finds its way to Minnesota.
By John Welbes
jwelbes@pioneerpress
Full Story: http://www.twincities.com/business/ci_17754268?nclick_check=1
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