The Invest Illinois Venture Fund (IIVF) is a venture capital program seeking to support young,  innovative companies, and start-ups that show a high potential for future growth resulting in the creation of high-paying professional Illinois jobs.  Applicants with a good business model and other interested investors should apply directly to DCEO.

Application Evaluation:

In its application to DCEO submitted electronically, the company should demonstrate that it:

• Already has an actual or conditional, market-based third-party lead investment commitment;
• Pursues a rapidly expanding market with demonstrated potential for large market share;
• Has a dedicated management team with significant experience to execute;
• Features a new idea /leverages technology with a clear path to commercialization and monetization;
• Has a strategy demonstrating a strong sustainable competitive advantage;
• Has an investment plan for (a) securing follow-on venture capital or financing to successfully sustain the company; or (b) to successfully sustain the company upon completion of the venture capital financing;
• Has successful collaborations and experience (preferably with Illinois-based incubators, labs and universities) needed to commercialize technology and accelerate the growth of a high-tech start-up company;
• Establishes reasonable price per share or terms;
• Conforms to all DCEO and US Treasury SSBCI guidelines.

Proceeds from the IIVF can be used for many business purposes, including, but not limited to:

• start-up costs,
• working capital,
• business procurement,
• franchise fees,
• equipment,
• inventory,
• and the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes

Download a printable IIVF form.

Submit an application.

Printable Fact Sheet about IIVF

Email to [email protected]