Tennessee's investment guidelines for its co-investment fund
Tennessee has come up with a useful model for stimulating investment in high growth, emerging companies. The state is now seeking public comment.
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The INCITE co-investment fund fences off investments in local businesses (retail, services, real estate) and traded businesses that are controversial (gambling, oil and gas extraction). The fund focuses on firms under 500 employees (the federal definition of small business). Finally, the fund sets up guidelines for co-investment in tiers or stages, much like the Small Business Innovation Research -- SBIR -- program.
