What to Expect — Invest Nebraska Corporation

What to Expect

+Step 1: Contact Invest Nebraska

Founders should reach out to Invest Nebraska’s staff for an initial discussion about the company’s fit with the program. Staff will likely offer advice for proceeding forward.

+Step 2: Apply for Funding

If the company is high growth, it should apply through the DED. If the company is traditional and is applying for our loan assistance programs, more information can be found here regarding the application process.

+Step 3: Provide Invest Nebraska with Requested Diligence Materials

Our default checklist can be viewed here. It is a good idea for an entrepreneur to begin assembling these materials into a folder that can be shared with us as soon as possible.

+Step 4: Meet with Invest Nebraska for a Presentation and to Dive into Diligence Materials

Assuming approval from Step 2: The Invest Nebraska staff enjoys spending several hours getting to know founders and their teams, experimenting with the company’s product, and asking questions about the company’s history and future.

+Step 5: Deal Structure

As part of the diligence process, Invest Nebraska will actively formulate mutually beneficial deal terms with founders.

+Step 6: Invest Nebraska Presentation to Board of Directors

Upon a successful review of diligence items and an agreement upon the investment terms, Invest Nebraska will prepare various memoranda and models to present the opportunity to its Board of Directors or a subcommittee of the BOD. This part of the process generally takes 1-2 weeks after the company and Invest Nebraska agree on terms.

+Step 7: DED Approval

The Department of Economic Development will consider the investment.

+Step 8: Calling Down the Funds

When the deal is ready to close, Invest Nebraska will need to submit a funding request to the DED in order to pull down funds from the State. This process takes 5-10 days business days.

+Step 9: Signing Documents and Funding

Once the funds have been deposited in Invest Nebraska’s account, we are able to sign documents and fund the company. Invest Nebraska, along with the majority of institutional investors, model their documents off the National Venture Capital Association documents.

Total time from start to finish: Invest Nebraska’s process, when executed perfectly, takes 4-6 weeks. Companies that are mid-round should expect the process to take as long as necessary to close the round and/or to finalize terms.