Performance Measure

Agency Innovation and Entrepreneurship Investment Authority (934) All measures for this agency • Percentage of compliance to the Code of Virginia for legislated support services mandates. [93453416.002.001] • Ratio of CRCF Award Investment Compared to Follow-on Investment Associated with Awards [934.0017] • The number of Virginia university start-up companies [934.0005] • Amount of Venture & Angel Capital Dollars Attracted as a Result of the Center for Innovative Technology (CIT) Growth Acceleration Program (GAP) [934.0006] • Number of Localities Assisted by CIT Broadband Team [934.0008] • Number of Growth Acceleration Program (GAP) investments [934.0009] • The score given to the Center for Innovative Technology for its preparedness assessment [93400000.001.001] • Virginia's placement relative to all U.S. states for the amount of venture capital investments [93453415.001.001] • Percentage of achievement of the director's duties as described in the Governor's Executive Order 35 (2006) [93453420.001.001] • Investment conversion rate [93453415.001.002] • Ratio of the Center for Innovative Technology (CIT) Growth Accelerator Program (GAP) Dollars Invested in Commonwealth Technology Companies Compared to Private Sector Investment Dollars Obtained by the Company [93453415.001.003] • Number of Virginia Localities with Less than 80% Households with Broadband Access [934.0007] • Broadband Access [934.0002] • The number of new entrepreneurial firms in Virginia [934.0004] • Research and Development intensity of Virginia Universities [934.0014] • Number of Events Providing Exposure to and Engagement with the Center for Innovative Technology (CIT) Programs/Funding [934.0015] • Number of Regions Engaged in CIT Programs and Events [934.0016] • Number of Cyber Companies Assisted in the Center for Innovative Technology (CIT) Cyber Accelerator called MACH37 [934.0010] • The revenue from contracts and grants generated for technology assimilation services generated by the Center for Innovative Technology (CIT) Connect Team [934.0011] • Virginia US ranking [934.0012] • Increase in number of companies providing products/services [934.0013] • Venture & angel capital attracted as a result of a GAP Fund investment [934.0001] • Ratio of Virginia Research & Development dollars to the State's Gross Domestic Product (GDP) [934.0003] • Ratio of CRCF Awards to Matching Funds of at least 1:1 [934.0018]

Measure Name Ratio of the Center for Innovative Technology (CIT) Growth Accelerator Program (GAP) Dollars Invested in Commonwealth Technology Companies Compared to Private Sector Investment Dollars Obtained by the Company

Measure Last Modified Sep 04 2019 03:18 Measure Last Published Mar 26 2019 12:51 Measure Status Active Data Source and Calculation This measure evaluates the effectiveness of the Center for Innovative Technology (CIT) Growth Accelerator Program (GAP) investments in terms of their ability to attract matching private sector investments. The measure is a ratio which is obtained by taking the total matching private sector investment dollars obtained by GAP companies divided by the amount of CIT GAP investments made. Associated Service Areas SA Code SA Name 53415 Commonwealth Growth Accelerator Program StandIn X

Measure ID 93453415.001.003 Measure Class Productivity Measure Type Outcome Year Type State FY Preferred Trend Increase Frequency Annually Statistical Unit Leverage ratio

Baseline and Targets Target Name Date Result Note Baseline Short Target 2023 Long Target 2024 StandIn X

Measure Results Year Result Explanatory Note 2008 5.00 2009 11.00 2010 13.60 2011 15.25 2011 Center for Innovative Technology (CIT) invested $4.63 million and leveraged $70.59 million of third party investments. The target ratio for 2012 has not increased since the number of investments made by CIT during 2012 has increased substantially (from $500k in 2011 to $5.8 million in 2012); therefore, the ratio will be lower since it takes a while for the companies to obtain additional investments. 2008 was first full year of data capture for productivity measure 2012 12.24 Fiscal Year (FY) 2012 leverage ratio is down because more funding was leveraged in FY2012 compared to FY2011. Funding in FY2011 was $500k compared to $6.8 million in FY2012. Since these investments are made in emergying technology companies, it takes years before they mature to the point that they can attract other funding. So while investments are up, the ratio of 3rd party investments are down due to the increased numerator in the equation. 2013 13.50 As CIT investments mature, so does the level of matching investments increase 2014 16.20 CIT investment companies raised $233,364,187 of private sector investments with CIT investing $14,378,705 ($233,364,187/$14,378,705 = 16.2) 2015 21.19 CIT investment companies raised $391,286,708 of private sector investment with CIT investing $18,465,101 ($391,286,708/$18,465,101) = 21.19 2016 20.67 CIT investment companies raised $424,890,841 of private sector investments with CIT investing $20,556,287 ($424,890,841/$20,556,287 = 20.67) 2017 25.54 CIT investment companies raised $583,958,300 of private sector investments with CIT investing $22,866,287.29 ($583,958,300/$22,866,287.29 = 25.5) 2018 30.61 CIT investment companies raised $770,660,443 of private sector investments with CIT investing $25,174,244 ($770,660,443/$25,174,244 = 30.61) 2019 32.82 CIT investment companies raised $922,741,846 of private sector investments with CIT investing $28,113,645 ($922,741,846/$28,113,645 = 32.82) 2020 Data expected September 30, 2020 to coincide with legislative reporting. StandIn X

- Run Date: 04/18/2024 06:39:09