Professional Services for Delaware Accelerator and Seed Capital Program

The State of Delaware, Division of Small Business, is seeking proposals from qualified organizations to provide professional services for the administration of the Delaware Accelerator and Seed Capital Program (DASCP). The program aims to support Delaware startups by providing capital to businesses that promote the development of an innovation ecosystem in the state. The selected vendor will be responsible for assisting with application review, investment decision-making, investment tracking, and other duties as assigned. The vendor must have experience relevant to the responsibilities listed, including previous direct SSBCI experience, experience making equity investments in early-stage startups, and experience executing programs that support underserved communities. Key responsibilities include: • SSBCI Eligibility Determination: Determine the eligibility of applicants for the DASCP according to the U.S. Treasury’s SSBCI eligibility requirements. • Investment Evaluation and Selection: Manage the evaluation and selection process for investment candidates. • Draft Investment Decision Memos: Review applications and draft memos to be presented to an Investment Committee regarding an informed investment decision that aligns with state and SSBCI goals. • Oversight: Establish and maintain practices for oversight of portfolio companies, including as appropriate, board membership and advisory roles, and compliance with federal reporting. • Conflicts of Interest: Establish practices based on U.S. Treasury SSBCI guidelines to uncover and avoid potential conflicts of interest. • Reporting: Provide quarterly and annual reports on investment activities in accordance with U.S. Treasury SSBCI guidelines.