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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.

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Angel Investment Credit

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

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