A group of venture capital veterans stated that the recent venture capital funds and crowdfunding initiatives established by the state of Georgia made it a leader in constructing ways for individuals to support growing companies.
The state has lately became the first of all the states across America to open its doors to crowdfunding by small investors. The state had also established a US$100 million fund to invest taxpayer money in startup ventures. These are all state-supported venture capital initiatives.
"As we investors look for deals, ...states like Georgia who have been real visionary by putting a system together that provides not only the funding but that helps support those companies as they go from proof-of-concept and prototype-development phases of development through to commercial activities that are vital to a bio-pharma or bio-sciences type company (are attractive). Georgia's ahead of the curve," Southeastern Medical Devise Association president Bob Crutchfield said to media. Mr. Crutchfield is also an Alabama-based venture capital fund executive.
One of the latest adjustments in state law was the granting of permission for the pension plans to invest in these growing organizations.
"The reason we've been active investors in Georgia is not because of this program or that program. There are investors in Georgia because there are really good companies, and there's a lot happening here, both on the bio-sciences side and on the technology side. Georgia is in a unique position of all the states in the Southeast to take advantage of some programs like this," Mr. Crutchfield explained.
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