Angel Investment Venture Capital Program
Act 24 of 2021 (Act 24) established the Commonwealth of
Pennsylvania's Angel Investment Venture Capital Program (Program) to create a
business environment that attracts and encourages early-stage financing for
businesses located in Pennsylvania with the potential for high growth,
increases capital investment in the Commonwealth, and encourages job creation
in Pennsylvania by making investments in Pennsylvania-based companies that
focus on commercializing research and development, technology transfers, or the
application of new technologies.
Business entities that qualify as angel investors or as
qualified business ventures under Act 24 had until June 30, 2022 to submit
their completed applications to the Executive Offices, Office of the Budget.
The Office of the Budget will begin considering and working with completed
applications on a rolling basis after July 5, 2022 until all available Program
funding is exhausted. Angel investors or qualified business that submitted
completed applications by the June 30, 2022 deadline must direct any inquiries
to the Office of the Budget at 333 Market Street, 19th Floor, Harrisburg, PA
17101; telephone: 717-787-2542; email: firstname.lastname@example.org.