Performance Measure
Agency
Measure Name
The ratio of the Center for Innovative Technology (CIT) Growth Acceleration Program (GAP) investments dollars into technology companies compared to matching private sector investment dollars obtained by the company.
Measure Last Modified
May 09 2017 11:38
Measure Last Published
Feb 06 2015 05:32
Measure Status
Active
Data Source and Calculation

This measure evaluates the effectiveness of the Center for Innovative Technology (CIT) Growth Acceleration 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
53415Technology Entrepreneurial Development Services
Measure ID93453415.001.003
Measure ClassAgency Key
Measure TypeOutcome
Year TypeState FY
Preferred TrendIncrease
FrequencyAnnually
Statistical UnitLeverage ratio
Baseline and Targets
Target NameDateResultNote
Baseline
Short Target 2018
Long Target 2020
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)
2017
- Run Date: 08/16/2017 05:29:41