ARTICLE
The Delaware BioScience Association (Delaware Bio) was recognized for its role in establishing a tax credit for angel investors in qualified small businesses at the bill signing of the Angel Investor Job Creation and Innovation Act (HB 170). Delaware Bio advocated for this state-level incentive for over two years and provided the perspective of the scientific and small business communities during the lawmaking process. Governor John Carney of Delaware signed the legislation at the University of Delaware’s DTP@STAR incubator, home to 14 startup companies, many of whom are Delaware Bio members. Helen Stimson, President and CEO of Delaware Bio, commented, “We believe that keeping innovation created in Delaware in the state is a key component of future success for the life sciences industry. We are delighted to have this new Angel Investor Tax Credit program to entice investors to support our startup companies. This benefit coupled with Delaware’s attractive R&D tax credit program provides key benefits needed to keep our innovators in the state.” Gov. Carney said, “We should do everything we can to support Delaware’s innovators and entrepreneurs who are leading Delaware’s new economy, and this law will help connect our most talented entrepreneurs with the resources they need to be successful.” The bill’s primary sponsor, Rep. Michael Ramone, remarked, “I know that by enacting this legislation we are taking a significant step in helping to strengthen Delaware’s economic development climate.” For more information on this legislation, read our press release when it passed in the General Assembly: http://files.constantcontact.com/b287b5b9001/8877b0a0-44fc-419c-bd1a-8f5d657571ab.pdf