Support For Tech Firms

Illinois -- Technology firms in Illinois that are involved in developing new processes or products or in transferring knowledge can take advantage of two funding programs sponsored by the state.

The Illinois Technology Development Bridge program and the Equity Investment program are open to firms with 50 employees or fewer that have no equity other than owner capital. The technology must be credible and commercially marketable. Entrepreneurs can receive $150,000 to $1 million for an investment period of up to 10 years, and must be able to produce matching funds from another investment source.

Both programs are seeking firms that will create jobs in Illinois. For information on the Bridge program, contact the Illinois Development Finance Authority at (312) 814-3482; for information on the Equity Investment program, call the Department of Commerce and Community Affairs at (312) 814-7168.

This article was originally published in the November 1998 print edition of Entrepreneur with the headline: Support For Tech Firms.