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Illinois INVENT: Empowering Innovation in Illinois

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Name: Illinois INVENT: Empowering Innovation in Illinois
Date: December 7, 2023
Time: 9:00 AM - 4:30 PM CST
Event Description:
The Illinois Innovation Venture Fund (INVENT) is a $114 million direct equity capital program funded through the U.S. Department of the Treasury State Small Business Credit Initiative (SSBCI) and administered by the Illinois Department of Commerce and Economic Opportunity (DCEO). Peoria NEXT will be hosting INVENT on December 7th for an event to kick off an initiative with Distillery Labs, the Turner Center for Entrepreneurship, and Illinois Small Business Development Center (SBDC) at Bradley University focused on keeping and creating more innovative startups in Greater Peoria through the State's new equity investment matching program (i.e., INVENT). In short, Illinois INVENT will match a local private investment in startups ($10k - $6m per company), but only after private investors are committed. Stated another way, if someone chooses to invest $100k in a Greater Peoria startup, Illinois INVENT will also put in $100k at the same terms. That investor's decision not only supports the local economy, but it forces the State to Choose Greater Peoria. Topics covered: Overview of Illinois INVENT. How Illinois INVENT supports startups in Illinois. Impact funding has on local innovation. Presentations from select 3-4 scalable startups from Central Illinois. Each startup presents its innovative idea, market potential, and impact. (Plus Q&A) Information regarding application for entrepreneurs to present at future INVENT visit. Guidance on navigating the world of venture funding in Central Illinois. Interactive roundtable session focusing on fostering innovation and entrepreneurship in Peoria. Who should attend? Investors interested in making investments in startup companies right here in Central Illinois Startup founders seeking capital to grow and scale their enterprises in Illinois Entrepreneurs, Investors, and Economic Development Professionals interested in an exciting new initiative to magnify the impact of investment capital deployed in our local innovation ecosystem Takeaway: Attendees will receive an overview of the Illinois Innovation Venture Fund (INVENT). Investors will learn the basics of venture capital investment and how they can participate in the growth of their community by investing in local startup business, including advantages and risks. Startup founders will learn how to position their companies to magnify the impact of private investment they receive via participation in Illinois INVENT. Attendees will have the opportunity to ask questions of the presenter. Attendance information will be shared with event partners. Featured Presenter: Bruce J. Wilson VCP Platform Coordinator Illinois Innovation Venture Fund (INVENT) Office of Entrepreneurship, Innovation, & Technology Illinois Department of Commerce & Economic Opportunity No cost to attend. Lunch provided by Peoria NEXT Innovation Center. Registration is requested by December 4, 2023. Co-Sponsors: Peoria NEXT Innovation Center, Turner Center for Entrepreneurship and Illinois SBDC at Bradley University, Distillery Labs
Peoria NEXT Innovation Center 801 W Main St, Peoria, IL 61606 Main Conference Room – A114
Date/Time Information:
Thursday, December 7, 2023 9:00 am – 4:30 pm
Contact Information:
Eric Sampson
No cost
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