Connecticut § 32-41w - Early-stage venture capital program.
Full text of Connecticut Connecticut General Statutes § 32-41w — Early-stage venture capital program., with citation guidance and answers to common questions.
§ 32-41w. Early-stage venture capital program.
Sec. 32-41w. Early-stage venture capital program. (a) There is established an early-stage venture capital program to be administered by Connecticut Innovations, Incorporated, to provide preseed financing, seed financing, start-up financing, early or first-stage financing and expansion financing to companies in the state.
(b) In support of the program established in subsection (a) of this section, the corporation shall establish criteria for awarding such financing and shall develop and implement a plan to market the program.
(c) The board of the corporation shall review and approve each application for such financing.
(d) Funds provided for this section shall be allocated as follows: (1) Not less than five per cent for preseed financing; (2) not less than ten per cent for seed financing; (3) not less than ten per cent for start-up financing; (4) not less than fifteen per cent for early or first stage financing; and (5) not less than forty per cent and not more than sixty per cent on expansion financing, as such terms are defined in section 32-34. The corporation shall use not more than three per cent of such funds for administration and marketing of such financial aid.
(e) The corporation shall adopt procedures, pursuant to section 1-121, to implement the provisions of this section.
(P.A. 06-83, S. 4.)
History: P.A. 06-83 effective July 1, 2006.
Frequently Asked Questions About Connecticut § 32-41w
What does Connecticut General Statutes § 32-41w cover?
Section 32-41w ("Early-stage venture capital program.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 32-41w?
A common citation format is "Connecticut General Statutes § 32-41w" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 32-41w apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.