4 Champaign Area Companies To Get State Help

There's good news for four Champaign-Urbana area startup companies.

The (Champaign) News-Gazette reports the companies have been approved to receive investments from the Invest Illinois Venture Fund that was set up last year.

Under the program, companies can receive up to 25 percent of their own lead investments from the state.

The companies that have been approved but haven't yet received any money from the state are Caterva, ANDalyze, Diagnostic Photonics and Nuvixa.

The goal of the fund is that it will replenish itself. The newspaper reports that once a company is viewed as self-sustaining, the state could stop investing and the proceeds from its investment will be used to help other companies.