TITLE 42
State Affairs and Government

CHAPTER 42-64
Rhode Island Commerce Corporation

SECTION 42-64-7.11


§ 42-64-7.11. Venture capital forum program.

The Rhode Island commerce corporation shall establish a "Rhode Island Venture Capital Forum Program." To establish the program, the corporation shall 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;

(h) Reviewing annually the current status of venture capital in Rhode Island in conjunction with the full capital continuum needs of businesses in Rhode Island and make such report to the legislature as to the availability of capital for businesses in Rhode Island. The report shall analyze the needs of small and larger businesses in Rhode Island. The corporation shall work in conjunction with any organization formed to provide economic analysis for the state.

History of Section.
(P.L. 2003, ch. 431, § 1; P.L. 2013, ch. 243, § 3; P.L. 2013, ch. 490, § 3.)