Chapter
431
2003 -- H 5546
Enacted 08/06/03
A N A C T
RELATING TO THE ECONOMIC
DEVELOPMENT CORPORATION
Introduced By:
Representatives Dennigan, Anguilla, Slater, Lewiss, and Laroche
Date
Introduced: February 11, 2003
It is enacted by the General
Assembly as follows:
SECTION
1. Chapter 42-64 of the General Laws entitled "Rhode Island Economic
Development Corporation" is
hereby amended by adding thereto the following section:
42-64-7.11.
Venture capital forum program. - - The corporation shall establish a
"Rhode Island Venture
Capital Forum Program." To establish the program, the corporation shall:
(1)
Organize a statewide system for facilitating venture capital investing. Such
system
may include, but need not be
limited to, the following:
(a)
Identifying and providing information to investors about investment
opportunities in
new and high-growth business
enterprises;
(b)
Identifying and providing information to entrepreneurs and high-growth business
enterprises about investors
seeking investment opportunities;
(c)
Providing statewide and regional meetings, forums, internet-based information
systems, venture capital fairs,
and other opportunities for venture capital investors and new and
high-growth business enterprises
to meet and discuss potential mutual opportunities;
(d)
Cooperating with other service entities in facilitating effectiveness of the
program
including, but not limited to, financial
institutions, attorneys, accountants, investment banking
firms, established venture
capital funds, institutions of higher education, local and regional
development organizations,
business development centers, business incubators, and utilities;
(e)
Serving as a clearinghouse and access point for information about venture
capital
investment opportunities in
Rhode Island;
(f)
Serving as the central organization and means of delivering appropriate
education and
training programs for potential
investors and new or high-growth business enterprises;
(g)
Facilitating the formation of private venture capital funds.
SECTION
2. This act shall take effect upon passage.
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LC01581
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