Next proposal due: June 28, 2012. It is strongly recommended to submit an Executive Summary at least 2 weeks before the proposal is due.

Click here to view 2012 Review Cycle Dates

Overview

As BFTP/SEP seeks to invest in only the most promising ventures, funding for IT companies is extremely competitive. Most of the companies successful in raising BFTP/SEP funding possess some or all of the following characteristics:

• Venture experienced business management
• Active and diverse set of directors or advisors
• Sound business and technological approach
• Leveraged sources of capital (SBIR, Angel, Early Stage Venture Capital, other state funding sources)
• Ability to achieve a significant milestone with BFTP/SEP dollars
• Long term sustainability and job creation
• Beta Customers and/or Product sales

 

Information Technology (IT) Application Documents

• Program Information Instructions: doc
• Executive Summary (Due: June 11, 2012): doc
• Applications:
  – Application (If you have a business plan):doc
  – Alternative Application (Slides):doc
• Milestones: xls

 

Investment Levels

Within the IT sector, while BFTP/SEP will on occasion invest up to $500,000 as a first investment, $100,000 to $250,000 is more typical initially. The maximum cumulative investment in any one company is $750,000. Click on the appropriate fund for an application.

 

Terms

BFTP/SEP’s standard investment terms for IT companies include:

• Convertible Debt
• Warrant
• Lien on the technology
• Board Observation Rights
• BFTP/SEP reporting compliance

Term Details: pdf

 

View IT Investment Committees

 

For more information, please contact:

Alan Kraus
Director of Investments, Information Technology