Until now. The recent Harvard study, first published in April, doesn’t specifically focus on angel credits. But it does prove the value of angel investors to start-ups beyond mere money, something Lenczewski either failed to understand or simply did not want to understand.
Boy, if only this Harvard
University business school study came out before February, when
Minnesota Tax Committee Chair Rep. Ann Lenczewski argued, somewhat
nonsensically, that direct grants to start-ups were superior than angel
tax credits.
She even commissioned a much ridiculed report from the House Research Committee to back her claims.
Fortunately, common sense prevailed and Minnesota enacted a five year, nearly $60 million angel credit program. But Lenczewski was right about one thing: there has been little quantitative evidence to support angel credits.
To read the full, original article click on this link: Harvard study says angel investors add value to start-ups (Duh.) « MedCity News
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