History
Georgia has long benefited from a robust innovation ecosystem, yet its many promising early-stage founders outpaced sufficient venture capital needed to scale their companies. Young businesses were often being recruited by established innovation centers and competing programs outside the state, taking jobs, intellectual capital and opportunities for economic growth with them.
As a long term strategy, the Georgia General Assembly established the Invest Georgia Fund through House Bill 318 in 2013. The legislation authorized a $100 million venture capital initiative to increase access to investment capital and support the growth of innovative Georgia businesses. The state authorized $49.6 million in funding between fiscal years 2014 and 2019.
The legislation also established the Invest Georgia Board, defined its responsibilities and investment authority, and provided for the selection of a third-party administrator and ongoing program reporting.