Yesterday, Calvin Goforth, Chief Executive Officer and Founder of VIC Technology Venture Development™ (VIC™), announced the formation of the VIC Investor Network, a new fund that will significantly accelerate and expand technology venture development in Arkansas. The VIC Investor Network will place $250,000 start-up capital into every new portfolio company that VIC forms. Start-up capital is the most difficult funding to acquire. The VIC Investor Network funding will allow VIC to jumpstart its new portfolio companies and significantly shorten the average company development time.
Dr. Goforth made the announcement at VIC’s offices, following a presentation by Mitch Horowitz, Vice President & Managing Director of Battelle Technology Partnership Practice of Cleveland, Ohio. Mr. Horowitz led an in-depth 2012 Battelle study entitled Arkansas' Knowledge Economy Initiatives. He spoke about the importance of technology based economic development for Arkansas’ future economy, the benefits of the state’s incentive programs for encouraging such development, and he introduced the unique role VIC plays: “VIC fills key challenges and gaps for technology based economic development efforts by bringing together the initial management, product development, business development, and administrative teams needed to launch successful companies based on university inventions.”
To read the original article: VIC Investor Network to Significantly Accelerate Technology Company Growth
