Friday, June 25, 2004
Pennsylvania has approved the first investment under a unique initiative to stimulate angel investing. The State, through the Ben Franklin Investment Partners program, guarantees 25% of the angel investment. The angel investors pay a 1.5% annual fee on the guaranteed amount.
In the first deal, the total angel investment was $300,000. The State is guaranteeing 25% or $62,500. If the deal tanks, the State pays this amount to the investors. If the deal works, the State participates in the upside.
Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
If you are using a news reader, here is the link to syndicate this site:
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Pennsylvania's new angel investor program
