The following developments address the need for seed capital available to Arizona technology companies:

• In 2005, Governor Janet Napolitano signed into law the “Angel Investor’s Tax Credit” to spur investments in life sciences and technology development - it will become available on July 1st, 2006.
  
  
• The newly created web portal for tech entrepreneurs contains information about funding opportunities and a searchable list of funding sources for life sciences and technology companies.
  
  
• 52 companies received AZ FAST grants to pursue SBIR/STTR opportunities – to find out more, click here.
  
  
• Since 2004, $4.4 million in federal grants have been awarded to AZ FAST participants, with an additional $1.74 million pending.
  
  
• In November 2005, The Arizona Angel Investment Conference brought nearly 150 of the region’s leading investors, bankers and early/middle stage service providers together with emerging growth businesses seeking funding.  In addition to deal making, 2005 Arizona Angel Investment Conference offered educational workshops – the Entrepreneur and Investor Summits – geared towards educating both the entrepreneur and investor on the most current investment issues.
  
  
• Ongoing efforts are underway to create a private sector led $50 million fund of funds program.