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Angel Investment Credit
 

Angel Investment Credit

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Learn about the potential Illinois Senate Bill to provide tax credits to Venture Capital Firms and Angel Investors who invest in Illinois emerging technology and startup companies.

Learn about the potential Illinois Senate Bill to provide tax credits to Venture Capital Firms and Angel Investors who invest in Illinois emerging technology and startup companies.

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    Angel Investment Credit Angel Investment Credit Presentation Transcript

    • Angel Investment Credit
      Presented by:
      David Szostak – Owner / Principal Consultant
      May 4, 2010
    • SB 1522 (SB 3654)
      Emerging Technology Industries Act
      Started in 2009
      $10 million grant-matching program for emerging technology enterprises
      $15 million investment tax credit for Venture Capital (VC) or Angel Investors
      13 Senate / 40 House Sponsors
      Passed the Senate
    • SB 1522 (SB 3654)
      Emerging Technology Industries Act
      Started in 2009
      $10 million grant-matching program for emerging technology enterprises
      $15 million investment tax credit for Venture Capital (VC) or Angel Investors
      13 Senate / 40 House Sponsors
      Passed the Senate
      Create New Jobs!
    • SB 3710
      Angel Investment Credit
      Started in 2010
      No matching-grant program for businesses
      $10 million investment tax credit for VC or Angel Investors
      New life, no guarantees, other potential opportunities
    • Proponents/Opponents
      Proponents
      Northwestern University
      IL Biotechnology Industry Organization
      IL Chamber of Commerce
      Chicagoland Chamber of Commerce
      Opponents
      Taxpayers’ Federation of IL
    • Qualified Investor is…
      Individual – At least $25,000
      IL corporation – A least $250,000
      IL VC firm
    • Qualified IL VC Firm is…
      Invests in privately held companies for emerging technology
      2 principals with at least 5 years of VC experience
      1 year of experience in investing in emerging technology
    • Amount of Tax Credit
      Equal to 25% of the qualified investment
      $50,000 for individual
      $250,000 for corporation or VC firm
      Max credit amount may not exceed $500,000
      Credits may be carried forward for 5 years
    • Summary
      Provide early-stage financing to high-growth companies
      • Potential $40 million for qualified businesses
      Qualified applicants (investors and businesses) are determined by the Department of Commerce and Economic Opportunity (DCEO)
    • Summary
      Provide early-stage financing to high-growth companies
      Potential $40 million for qualified businesses
      Qualified applicants (investors and businesses) are determined by the Department of Commerce and Economic Opportunity (DCEO)
      Create New Jobs!
    • Next Steps… Be Active
      Contact
      President & CEO of iBIO, David Miller
      President of the Senate, John Cullerton
      Speaker of the House, Michael Madigan
      • Your Local Senator or Representative
      Please check Illinois General Assembly, www.ilga.gov
    • Contact Us
      To learn more about Diamond Strategies LLC marketing and consulting services, please contact us at:
      info@diamond-strategies.com
      773.849.9333
      www.diamond-strategies.com
    • Thank You