Vol. I, Issue 3, Summer 1996

FROM THE PRESIDENT...

n our previous newsletter I described the special investment niche being served by NCIC as "The Entrepreneurial Capital Gap." This early stage funding gap is usually beyond the financial resources of the company owners but prior to the size and growth potential that would interest established venture capital funds.

In targeting this critical funding need, NCIC works closely with other business assistance centers and funding sources in our mission to support the growth and competitiveness of the region's technology based businesses.

In this newsletter we have listed some of the region's venture capital funds and venture clubs, potential sources of both private investment, as well as institutional venture capital.

NCIC is active with the venture clubs throughout Ohio and Indiana. Many of our clients have presented summaries of their business plans to potential investors at these meetings, and we are very pleased to have had 13 of our clients and potential clients present at Innovest '96. Additional information on this Venture Capital Conference is featured on page 4 [Innovest '96 A Success] of this newsletter. We are committed to working with other investors whether they be individuals, venture capitalists, financial institutions or strategic alliances with established firms. We know that not only do start-up firms need capital, but the very successful early-stage companies will need the infusion of significant additional capital as they grow.

In order to facilitate investments by these other funding sources, NCIC can subordinate to financing from financing institutions. In addition many senior lenders view fully subordinated unsecured debt as equity for lending purposes. This flexibility allows for full collaboration with these other funding sources.

We have listed some of the sources of venture capital in this newsletter; in future newsletters we will give some examples of successful joint funding for growing enterprises in our region.

NCIC INVESTMENT - RECENT CLOSINGS

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