Oklahoma officials want to leverage tax dollars, pension funds and other state-managed money to provide seed capital for local startup businesses, an effort spearheaded by a governor’s office that is aggressively pushing for programs that assist new companies.
The Commerce Department is currently soliciting bids for companies to operate three new business accelerators that would cultivate new businesses and then give the Oklahoma Center for Advancement of Science and Technology (OCAST), a state agency, the opportunity to invest in the new businesses in exchange for equity.
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