April 8, 2013 – Atlanta, Georgia – Georgia House of Representatives approved a proposal which will, if signed by Governor Nathan Deal, create a $100 million state-based venture capital fund – the Invest Georgia VC fund. House Bill 318 passed with a 135-28 vote and will allow an independent board to invest the capital in Georgia-based high-growth technology startups.
“Many Southeastern states already have state-supported or public-private venture fund vehicles,” says Tino Mantella, Technology Association of Georgia (TAG) President and CEO. “Thanks to our Legislature, we now have the tools needed to organically grow our tech businesses and keep them in Georgia.”
TAG’s continual work to develop and support initiatives to strengthen Georgia’s technology sector is now influencing state law – a huge success for the organization. Within the past several months, TAG reached out to Jabian Consulting to develop a technology strategy for the State. Jabian consultants Nigel Zelcer, Michael Lan, Will Funderburg, Alex Aschenbroich, and Ryan Applegate volunteered their time outside of client work to create what is now known as the Georgia Science and Technology Strategic Plan, or Innovate Georgia 2025.
“The Strategic Plan articulated detailed actionable steps as well as how to execute the plan. With this legislation, we see the first steps of the Strategy underway and we couldn’t be more thrilled,” stated Jabian Founding Partner Nigel Zelcer. “Jabian is proud to be a part of the recent push paving the way for Georgia as an entrepreneurial hub.”