MTDC's investment staff reviews each application for venture capital. No formal application is necessary, but the presentation of a comprehensive, written business plan is required. The process includes an in-depth review of the business plan, meetings between company and MTDC management, and preparation of a detailed investment report for review by the MTDC Board of Directors.

MTDC makes venture capital investments in companies with the following characteristics:

* The company must be located in, or agree to locate in, Massachusetts.

* The company's business must be technology-based, and its principal products or services must be sufficiently innovative to provide a competitive advantage.

* The business expansion which MTDC's venture capital investment would help to finance must produce a significant growth in employment.

* The company must be able to show the prospect of a high rate of return on MTDC's venture capital investment.