241(4) 242The private fund manager shall use a thorough and detailed process that is modeled after investment industry practices to evaluate a proposal. In order to approve a company for investment, the private fund manager, on behalf of the institute, must consider if:284(a) 285The company has a strong intellectual property position, a capable management team, readily identifiable paths to market or commercialization, significant job-growth potential, the ability to provide other sources of capital to leverage the state’s investment, and the potential to attract additional funding;
327(b) 328The private fund manager has had an opportunity to complete due diligence to its satisfaction;
343(c) 344The company is a target industry business as defined in s. 355288.106(2); 356and 357(d) 358An approved private-sector lead investor who has demonstrated due diligence typical of start-up investments in evaluating the potential of the company has identified the company.
403(6) 404The institute or private fund manager may:411(a) 412Provide a company with value-added support services in the areas of business plan development and strategy, the preparation of investor presentations, and other critical areas identified by the private fund manager to increase its chances for long-term viability and success;
452(b) 453Encourage appropriate investment funds to become preapproved to match investment funds;
464(c) 465Market the attractiveness of the state as an early-stage investment location;
476(d) 477Collaborate with state economic-development organizations, national associations of seed and angel funds, and other innovation-based associations to create an enhanced state entrepreneurial ecosystem; and
501(e) 502Transfer any portion of the assets of the investment portfolio, on behalf of the institute, into a private fund or special purpose vehicle, receive additional private investment in the private fund or special purpose vehicle, manage the private fund or special purpose vehicle, and distribute to the technology fund and the private investors the respective pro rata portion of any net profits from the sale or liquidation of the assets of such private fund or special purpose vehicle.