Participate in State VC Survey By Mar. 15

Innovation and tech entrepreneurship take money — different amounts at different stages with different strings. As a result, increasing access to capital is an objective of many state and local technology-based economic development programs.

“States fill a critical gap in available finance for many of the nation’s start-ups," said Sue Strommer, chief executive officer of the National Association of Seed and Venture Funds (NASVF). Discovering just how many programs across the country are working toward filling the financial needs of tech-based innovation is the goal of a current NASVF project to survey programs. All state equity-related financing programs are encouraged to participate before March 15, 2006.

“This is an opportunity for states to showcase their efforts to support the new businesses and entrepreneurs who drive the new economy,“ Strommer added. "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, creative tax incentives, and other innovations are taking root across the country. The final compendium of state data will be a valuable resource to policymakers, universities, economists, financial analysts, private venture firms, and entrepreneurs.

Preliminary survey results will be released to national press and policy leaders on May 18, 2006, at the State Venture Capital Symposium, Renaissance Hotel, Washington, D.C. To participate, state program managers can go directly to a survey link at www.nasvf.org, or may contact Lisa Walker, Research Associate, at lwalker@nasvf.org for more information.