(20 ILCS 700/3001) (from Ch. 127, par. 3703-1)
Sec. 3001.
Illinois Technology Enterprise Development
and Investment Program. The Department
shall, subject to appropriated funds, establish an Advanced Technology
Enterprise Development Program to: (i) provide
investments, loans, or qualified security investments to or
on behalf of young or growing businesses, in cooperation with private
investment companies, private investors or conventional lending
institutions which also assume
a portion of the investment loan or financing for a business project, or
on behalf of new or emerging business through financial intermediaries as
they commercialize
advanced technology projects;
(ii)
fund regional technology enterprise development centers that make
available resources and
expertise in furthering the technical or managerial skills of owners; aid the
ventures in locating financing;
and help new companies with product development and marketing.
(Source: P.A. 91-476, eff. 8-11-99.)
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