Candidates must be small, privately-owned businesses with less than 50 employees. Investment proceeds must be applied to companies requiring venture capital or seed capital . Venture capital represents financing for the research and development needs of a company developing a new technology, product, process, or invention. Seed capital represents financing for application for applied research, development, testing, and initial marketing of a technology, product, process, or invention. IDFA venture capital investments provide centure and seed financing to Illinois businesses that have the potential to stimulate long-term employment and economic activity in Illinois.
Investments require a co-investment by one or more professional venture investors.
Businesses are required to locate their operations in the State of Illinois.