Performance Measure
Agency
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
Oct 10 2018 03:53
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.
Enterprise Priorities and Strategies
Enterprise InitiativeEnterprise PriorityEnterprise Strategy
EconomyDiversificationAttract businesses to the Commonwealth that operate in new and growing fields in the 21st century economy. Targeted areas include cyber security and biosciences.
Associated Service Areas
SA CodeSA Name
53415Commonwealth Growth Accelerator Program
Measure ID93453415.001.003
Measure ClassProductivity
Measure TypeOutcome
Year TypeState FY
Preferred TrendIncrease
FrequencyAnnually
Statistical UnitLeverage ratio
Baseline and Targets
Target NameDateResultNote
Baseline06/30/201830.61
Short Target 202006/30/202034Contingent investment climate/economy.
Long Target 202206/30/202238Contingent investment climate/economy.
Measure Results
YearResultExplanatory Note
20085.00
200911.00
201013.60
201115.252011 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
201212.24Fiscal 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.
201313.50As CIT investments mature, so does the level of matching investments increase
201416.20CIT investment companies raised $233,364,187 of private sector investments with CIT investing $14,378,705 ($233,364,187/$14,378,705 = 16.2)
201521.19CIT investment companies raised $391,286,708 of private sector investment with CIT investing $18,465,101 ($391,286,708/$18,465,101) = 21.19
201620.67CIT investment companies raised $424,890,841 of private sector investments with CIT investing $20,556,287 ($424,890,841/$20,556,287 = 20.67)
201725.54CIT 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)
201830.61CIT investment companies raised $770,660,443 of private sector investments with CIT investing $25,174,244 ($770,660,443/$25,174,244 = 30.61)
2019Information available September 30, 2019
- Run Date: 07/18/2019 05:20:56