Monica Enand runs the Oregon start-up 'Zapproved,' which makes legal software. She thinks the 'Oregon Investment Act' will be a shot in the arm for new small businesses.
Monica Enand: "In the very beginning, especially in Oregon, it's tough to get any kind of investment dollars to get things rolling and get off the ground."
The act was championed by state Treasurer Ted Wheeler. He says it's a way for small start-ups and even medium sized businesses to leverage state money and grow. But, he stresses, the state will rely on private sector experts to protect investments.
Ted Wheeler: "It will not be state government picking winners and losers, when we've tried to do that in past we have not been particularly successful."
The act establishes the 'Oregon Growth Fund' and creates the 'Oregon Growth Board.' It has to submit a plan of operation to the next legislature in 2013.
Copyright 2012 Oregon Public Broadcasting