The INCITE Co-Investment Fund is a component of Gov. Bill Haslam’s INCITE initiative to drive growth and create knowledge-based jobs by encouraging investment in small businesses. Administered by Launch Tennessee, the Fund matches a portion of investments in Tennessee-based companies.
It was created in 2011 using $28.8 million of federal funding awarded under the State Small Business Credit Initiative. To date all $28.8M has been invested, leveraging $87.8M in private capital. An additional $58M in follow-on capital has been invested, for a total of $175M to Tennessee companies.
- Create and retain high-quality jobs in Tennessee.
- Provide Tennessee companies access to additional seed, early and expansion-stage venture capital, in part by attracting and leveraging significant private capital investment.
- Accelerate technology commercialization from Tennessee research institutions to Tennessee companies.
- Minimize administrative costs and maximize funding to Tennessee companies.