Millions Are Flowing Through The AITC Into MN Tech Startups This Year

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Redpath3A group of Minnesota tech startups chalked up some ~$7.6m in funding so far this year, according to newly released data from the Department of Employment and Economic Development about the Angel Investor Tax Credit Program (AITC).

19 unique ventures saw their accredited investors take a combined $1.9m in deductions credits for 25% of their qualified investment made between Jan-March, 2016.

For 2016, $15.5 million in credits is available, $7.5 million of which is reserved until Sept. 30, 2016, for minority- and women-owned businesses, as well as businesses located in Greater Minnesota. As of 4/11/2016, $7.0M remains available for these businesses and $3.8M remains for general businesses. By this measure, $4.7M in credits have been used. Here’s the tech portion so far:

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