Indiana Venture Capital Company Income Tax Law
The INnovation Angels in a new venture capital company investment group that will provide access to seed capital and ongoing strategic assistance for entrepreneurs in Indiana and Kentucky. The group has been attracted to Indiana in part by the state income tax law, where they will be eligible for the Indiana Venture Capital Tax Credit. This program offers individual and corporate investors incentive to invest.
Angel investors who provide qualified debt or equity capital to Indian companies can receive a credit against heir Indiana income tax liability. The state hopes that the startup capital provided by groups like the INnovation Angels will help to attract new companies to the region and ultimately create new jobs in a virtuous cycle. The 12 member group of investors plans on investing in a range of early-stage companies in the health care, clean-tech, internet/digital media, mobile, software, technology-enabled services and communications sectors.