The following criteria are considered in the initial screening of a proposal:
- Must be located in New York City, with special priority for projects targeted to economically distressed communities across the five boroughs. In certain cases, we will consider a company or project not currently located in the city, but committed to relocate prior to funding;
- Significant growth potential, including creation of new, permanent jobs and/or other significant benefits to the city and the local economy;
- Fits with our target growth sectors;
- Solid business plan and experienced management;
- Ability to recover investment within 5-7 years;
- Contribution to health, education and general quality of life in the city;
- Clear evidence that the Partnership Fund’s investor network will add value, beyond the financial investment, to the development of the enterprise;
- With respect to early stage technology companies in our target sectors, the commitment or potential to attract a qualified venture capital firm as lead investor.
If a submission is deemed appropriate for consideration, the Partnership Fund will share the proposal with a select group of Fund advisors who will participate in our evaluation and due diligence. Applicants may be invited to meet with a Project Team comprised of experts drawn from our Sector Group Advisory Boards as well as other Project Team Volunteers.
The Partnership Fund is prepared to collaborate in due diligence with other investors. Investment decisions are made by the Board of Directors, based on recommendations from the Project Team. (In the case of nonprofit funding, decisions are made by the Board of the New York City Partnership Foundation, Inc., based on recommendation by the Project Team and the Partnership Fund Board.)
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