Areas Served: Statewide Illinois
The Invest Illinois Venture Fund is a venture capital program seeking to support young, innovative companies, and start-ups that show a high potential for future growth resulting in the creation of high-paying professional Illinois jobs.
Applicants with a good business model and other interested investors should apply directly to DCEO.
Application Evaluation: In its application to DCEO submitted electronically, the company should demonstrate that it: – Already has an actual or conditional, market-based third-party lead investment commitment; – Pursues a rapidly expanding market with demonstrated potential for large market share; – Has a dedicated management team with significant experience to execute; – Features a new idea /leverages technology with a clear path to commercialization and monetization; – Has a strategy demonstrating a strong sustainable competitive advantage; – Has an investment plan for (a) securing follow-on venture capital or financing to successfully sustain the company; or (b) to successfully sustain the company upon completion of the venture capital financing; – Has successful collaborations and experience (preferably with Illinois-based incubators, labs and universities) needed to commercialize technology and accelerate the growth of a high-tech start-up company; – Establishes reasonable price per share or terms; – Conforms to all DCEO and US Treasury SSBCI guidelines.
Proceeds from the IIVF can be used for many business purposes, including, but not limited to: – start-up costs, – working capital, – business procurement, – franchise fees, – equipment, – inventory, – and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes
Contact InformationIllinois Dept of Commerce & Economic Opportunity
Address: 500 East Monroe
City: Springfield
State: Illinois
Website:
http://www.ildceo.net/dceo/Bureaus/Advantage+Illinois/Invest+Illinois+Venture+Fund/
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