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Minnesota angel investment tax credit off to a strong start

August 31, 2010 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

It’s been a tough slog for early stage capital, lately.

Affinity Capital Management and Triathlon Medical Ventures have suspended efforts to raise a $10 million seed fund in Minnesota. And the $1 billion fund biotech investor Steve Burill promised to raise for the Elk Run BioBusiness Park two years ago has yet to materialize. (Burrill has reportedly lowered his goal to $250 million, which is still a lot of money.)

But alas, there is some good news (for a change)! The state Department of Employment and Economic Development (DEED) has awarded $573,000 in tax credits during the first full month of Minnesota’s shiny new angel investment tax program.

Full Story: http://www.medcitynews.com/2010/08/minnesota-angel-investment-tax-credit-off-to-a-strong-start/

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