Fayetteville Tech Company Announces Expansion, Investments
By: KNWA News
Updated: February 22, 2013
A Northwest Arkansas Tech Company Announced funding efforts that will boost tech development in the state.
Calvin Goforth, founder and CEO of VIC Technology Venture Development announced the formation of their own investor network that will place $250,000 in start-up funds into every new portfolio company that VIC forms.
Goforth says start-up capital is typically the most difficult to acquire. The funding will allow VIC to launch new companies and significantly reduce the average time it takes them to develop.
With the network in place, VIC plans to add four new companies to its portfolio each year, triple their previous rate of expansion.
They estimate more than 100 high paying technology jobs will be created in the next three years.
They also plan to add additional locations across the country.
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