SSBCI: State & Local Support for Innovation Finance Presented by CDFA
A quarter of the funding from the $1.5B State Small Business Credit Initiative (SSBCI) was awarded to state and local government programs to support angel, seed, and venture capital. Governments and other economic development organizations engaging in these investments always face a number of considerations, and the requirements of managing an SSBCI-backed program, although worthwhile, create additional challenges.
The SSBCI: State & Local Support for Innovation Finance Workshop is one of the only opportunities for program managers to exclusively discuss the challenges and opportunities that exist for innovation finance programs operating within the SSBCI framework.
The purpose of this workshop is to bring together the managers of state- and local-level economic development organizations and other partnering investment entities to discuss public-supported innovation finance, in order to discuss best practices, regulatory challenges, leverage and ratio requirements, and investment strategies.
Wednesday October 24, 2012
12:30 pm - 4:30 pm
San Diego Convention Center
Access to this workshop is included in a WBT2012 Registration
Agenda12:30pm – 2:00pm Strategies for Meeting 10:1 Leverage with Venture Capital Programs
A key requirement of the SSBCI is that programs must collectively meet a 10:1 leverage ratio of private-to-public dollars. This is a challenge for many programs supporting small business capital access, and venture capital programs are no exception. During this segment of the seminar, program managers will lead a discussion on program design and investment decision strategies for meeting or exceeding the leverage requirement.
2:00pm – 3:30pm Venture Capital’s Role in Growing, Attracting, and Retaining Businesses Locally
State- and local-supported venture capital programs are not only looking for a return on investment, but also for positive economic development in the state or municipality. Some wonder whether venture capital support can help keep new companies in non-traditional venture capital areas as those companies emerge. During this segment of the seminar, program managers will discuss venture capital as a tool for spurring local economic development.
3:30pm – 4:30pm State Program Presentations
At the end of the day, venture capital programs are about growing companies. As a fun end to this day, state and local programs will have the opportunity to present one of their successful investments and compete for recognition from their peers.
- Toby Rittner, President & CEO, Council of Development Finance Agencies
- Jason Rittenberg, Research & Resources Coordinator, Council of Development Finance Agencies
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