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KTEC Unveils New Seed Fund for Technology Companies

August 29, 2003

The Kansas Technology Enterprise Corporation (KTEC), the state's lead corporation to promote advanced technology economic development, has developed a new investment program to help early-stage technology companies get the capital boost they need.

KTEC's Technology Commercialization Seed Fund (TCSF) is intended for companies that have developed technology products or processes and are preparing for a venture investment. Established July 1, the new fund emphasizes technology commercialization and complements KTEC’s existing Applied Research Matching Fund, which is intended for companies still in the product development phase.

“TCSF allows us to help companies that are farther along than companies we’ve invested in in the past,” said Michael Peck, KTEC vice president of investments and portfolio management. “Companies that are eligible for a TCSF investment will have other investors ready to co-invest with KTEC.”

By investing in early-stage Kansas technology companies in need of capital, KTEC helps to grow businesses that will contribute to the state’s tax base and create higher-paying jobs for Kansans. TCSF investments are limited to $250,000. To be eligible for a TSCF investment, a company should be a C-corp or a limited liability corporation and must match the investment at 150 percent.

To learn more about TCSF and other KTEC investment programs, visit http://www.ktec.com/investment/investment.htm.