More 21CJF Awards
Have you been following the 2008 21st Century Jobs Fund award announcements? You will recall that originally last October, 2008 the SEIC Board approved awards to 17 companies. That was how many of the 51 applicants they could accomodate with the $30million available for the competition last year. As the MEDC completed due diligence and confirmed matches, two companies had to drop out. They couldn’t close on their match and therefore... [Read More...]
21st Century Jobs Fund Awardees
The SEIC Board approved the recommendations of the NCMS reviewers giving 17 companies approval to borrow money from the state, totaling almost $30 million. The 17 were the top scoring proposals of the 51 reviewed. If any of the 17 change their mind about accepting the loan or the MEDC due diligence reveals inconsistencies in proposals causing some of the awards to be invalidated, the companies ranking 18, 19 or beyond would be approved. This... [Read More...]
21CJF Applicants Notified of Fate
Announcements went out advising companies they made it to the written review phase Applicants for this round of the 21st Century Jobs Fund competition were notified yesterday that they were approved to move forward to the written review phase. About 90 companies are moving forward. We haven’t heard yet what the 26 companies were told who didn’t move forward. This phase of the competition will take another two weeks. NCMS will recommend... [Read More...]
21CJF Update
Updated information about the 21st Century Jobs Fund competition The SEIC met last week to approve the list of companies that met the requirements for eligibility for the 21st Century Jobs Fund competition. 26 companies were rejected from the 117 that applied leaving 91 companies to be reviewed. Those 26 should have received word by now but we haven’t heard any rumblings yet. David Haviland with Shepherd Advisors attended the meeting and... [Read More...]
21st Century Jobs Fund Applicants
109 companies applied for funding The numbers are in. 109 companies applied for funding in this round of the 21st Century Jobs Fund competition. An astounding total of $451 million is being asked for in total. Here’s a breakdown of the applicants: 27 in Advanced Automotive, Manufacturing, and Materials asking for $157,845,672 14 in Alternative Energy asked for $71,729,846 19 in Homeland Security and Defense asked for $43,402,965 49 Life... [Read More...]
21st Century Jobs Fund Update
Peer Reviewers, Loan Terms, More Competitors The SEIC Board met last Wednesday and recommended the National Center for Manufaturing Sciences (NCMS) be the organization to conduct the peer review process for this round of the 21st Century Jobs Fund competition. The MEDC http://www.themedc.org/21cbizplan/ also talked about the loan to be used for the awarding of the money to recommended companies. Rather than two loans they are zeroing in on one. ... [Read More...]
Interest in 21st Century Jobs Fund Competition Low
Very few companies have registered to apply for 21CJF competion Have you thought about applying for the 21st Century Jobs Fund pool of $30 million and decided not to? THINK AGAIN. Only 30 companies have registered so far for the competition. That’s not much competition. The word is, apply even if you don’t think you meet all the criteria to the tee. Sell your business and make your case. You may (or may not) lose a few points... [Read More...]
New Application Deadline for 21CJF
Deadline to apply for the 21st Century Jobs Fund competition is moved to June 30 The SEIC Board has not yet selected a peer review organization for the 21CJF competition. Their next meeting to make that decision is in mid-June, after the original June 4 deadline. Therefore they had to push out the date. It is actually a good thing in that it gives companies more time to raise their matching investments and/or commitments. Have you registered? ... [Read More...]
21CJF Update
New information about application content Have you read the FAQ regarding the 21st Century Jobs Fund competition recently? Here’s the link: http://ref.themedc.org/cm/attach/18efd0c7-95d3-4a2f-89e4-cae672d8ecd2/20080428_FAQs.pdf Here are some highlights that shed more light on the RFP. You already know there will be 2 types of loans, a straight loan and a convertible note. Which will apply to you? The MEDC says this will be negotiated... [Read More...]
21st Century Jobs Fund Survey
Survey of companies considering an application for the competition Shepherd Advisors is conducting a volunteer survey of companies considering application to the 21CJF competion. http://www.surveymonkey.com/s.aspx?sm=pub_2bWsXr5QdcceT8FBMjIw_3d_3d The survey is short and is designed to capture some very general information about interested applicants. By collecting this info we may get a sense of just how many applications there may be as well... [Read More...]
