Note: The following text is a quote:
http://www.opic.gov/investment-funds/calls-for-proposals/global-technology-innovation-fund/
Global Technology and Innovation Fund
Investment Funds
Overview
Funds Description
How Funds Work
Participating Funds
Proposals & Submissions
Global Technology and Innovation Fund
Forms
Call for Proposals
Overview
Questionnaire
Supplemental Information
FAQs
Appendix 1 - Tabs A, B, C
Submit a Question/Comment
Register a Proposal
The Overseas Private Investment Corporation (”OPIC”) is inviting proposals from qualified private equity fund managers for the formation and management of one or more investment funds (“funds”) that plan to invest in a wide variety of companies or projects that provide access to technologies in the OPIC-eligible countries. OPIC will provide financing ranging between $25 million and $150 million in total capital for each selected fund.
OPIC has engaged Altius Associates Ltd. (“Altius”), an independent advisor to institutional investors, to assist in evaluating proposals received in response to this Call for Proposals (“Call”).
Purpose of Call
OPIC seeks to finance one or more selected funds to facilitate the investment of risk capital in new businesses and/or the expansion of existing companies that will take advantage of the transfer, adaptation and commercialization of existing technologies in OPIC-eligible countries.
Fund Investment Focus
OPIC seeks to provide financing to private equity funds that seek capital appreciation by investing in companies that will promote the access to and growth of technology. Technology is broadly defined to allow for a wide range of market based strategies, and could encompass but is not limited to sectors such as IT, healthcare, education, infrastructure, telecom, media, business and financial services and clean-tech. Examples of financed projects could include the following: strategies that helped to foster the development and use of new technologies such as computer, information, media and telecommunications businesses, or provision of broadband access; strategies that focus on the implementation of existing technologies to create new efficiencies; health sector strategies that focus on companies in medical, pharmaceutical, and other biotechnology areas; investment in technology and telecom infrastructure, energy efficiency and smart-grid technologies; strategies that promote the adoption of technology and new media for applications in education, and business and financial services; or technologies that might address other environmental and social problems, such as shortages of clean water. The funds will be privately owned and privately managed. The specific investment strategy would be determined based on proposals submitted by qualified fund managers.
Fund Geographic Focus
Funds may be country or regionally oriented and will use OPIC funds to invest in OPIC-eligible countries. Regions of particular interest include the broader Middle East and North Africa, Central and South Asia, and Southeast Asia (the “Targeted Regions”). It is expected that some funds may also invest in other OPIC-eligible countries where such investment would provide desirable diversification to ensure that OPIC can attract the widest range and best qualified managers active in these markets and in the technology area.
Fund Capitalization
OPIC will consider providing up to $150 million in capital to one or more selected managers, for financing that will generally represent no more than 33% of a fund’s total capitalization. In certain cases, for example funds that OPIC deems to be highly developmental, OPIC can consider providing up to 50% of a fund’s total capitalization. OPIC’s financing will be provided in the form of senior indebtedness loaned or guaranteed by OPIC (see FAQs for more detail). The balance of each selected fund’s capital would be equity raised from private or institutional investors, international financial institutions, and other interested parties.
OPIC Selection Process
The selection process under this Call will be as follows:
Non-Qualifying Proposals: With Altius’ assistance, OPIC will evaluate each proposal to determine if it meets OPIC’s objectives and the Selection Criteria set forth in the Call. All non-qualifying proposals will be rejected at this time and the proposing firms so notified.
Selection of Finalists: OPIC, assisted by Altius, will evaluate the remaining proposals. Based on the Selection Criteria set forth below, OPIC will select finalists for further consideration. Finalists will be notified promptly by OPIC, will be invited to a due diligence interview with OPIC in Washington, D.C., and will be expected to be available for on-site due diligence visits by OPIC and Altius shortly thereafter.
Recommendations: Upon the completion of due diligence, should OPIC determine to do so, one or more funds may be recommended to the OPIC Investment Committee and the OPIC Board of Directors. OPIC reserves the right not to recommend any of the finalists.
OPIC Selection Criteria
In assessing proposals, OPIC will consider, among other things, the following criteria with respect to each proposal:
the credibility and thoughtfulness of the proposal, and the consistency and clarity of the fund manager’s investment strategy and proposed exit strategies;
the track record of the prospective fund management team in making long-term risk capital investments in emerging markets, and its in-country or regional experience;
the experience, depth, stability and cohesiveness of the fund management team;
the fund manager’s understanding of target markets in their designated country or region, and their level of commitment to invest in sectors and geographies set forth in the Fund Investment Focus and Fund Geographic Focus;
the competitive position of the fund manager, including deal sourcing, value addition, reputation, and capital market access;
the ability of the fund manager to raise sufficient capital to close the proposed fund within a reasonable time;
the fund manager’s experience as a fiduciary in managing institutional capital, meeting reporting requirements, and administering a fund;
the fund manager’s experience in the target sector(s) and the manager’s experience investing in companies that will promote the access to and growth of technology;
the proposed fund’s developmental and economic impact in its target countries and/or region; and
the terms and conditions of the proposed OPIC financing, including the leverage ratio sought.
OPIC may make its determination with respect to any proposal based solely on the written submission.
Minimum Requirements
Each proposal must provide substantially all of the information requested in the Questionnaire accompanying the Call.
Additional Information from OPIC
Periodically, OPIC may post additional information on its Internet website in the form of Supplements to the Call. Any information so designated on OPIC’s website may supplement or modify, and will be considered a part of, the information set forth in the Call.
Confidentiality
OPIC maintains strict confidentiality with respect to all business confidential information. OPIC will not, however, treat as confidential or proprietary general ideas and concepts contained within any proposal.
Deadline for Proposals
Proposals must be submitted both in written form and electronically by 5:00 P.M., Eastern Standard Time, on November 30th, 2009.
OPIC reserves the right, in its sole discretion: (1) not to consider any proposal submitted after the deadline, and (2) to extend the deadline.
OPIC anticipates that it will evaluate promptly all proposals received and requires Call finalists to be available to visit OPIC in Washington D.C. between January 11th and January 15th, 2010, and to receive an on-site due diligence team from OPIC and Altius during the period of February 1st to February 12th, 2010. For more detail with respect to the proposed schedule please see the Fund Manager Selection Process Timeline at the end of this document.
How to Submit a Proposal
To submit a proposal, you must complete the following three steps:
Proceed to the Submit Proposals link located on the website. Complete the required and optional information on the Registration Form. Click the “Submit” button to transmit your information to OPIC.
Send fifteen (15) printed copies of the proposal and one (1) electronic copy of all files on a CD or DVD: Overseas Private Investment Corporation, Investment Funds Department, 1100 New York Avenue, NW, Washington, DC, 20527, Attn: Global Technology and Innovation Fund. These must be received by OPIC by 5:00 P.M., Eastern Standard Time, November 30, 2009.
Please submit one (1) electronic and two (2) printed copies to Pawan Chaturvedi, Altius Associates, 6641 W Broad Street, Suite 402, Richmond, VA 23230, and via e-mail to OPIC@altius-associates.com by 5:00 P.M. Eastern Standard Time, November 30, 2009.
Supplementing Proposals
Proposals submitted may be supplemented at any time up to the deadline for submission of proposals.
Information on OPIC’s Funds
To obtain a description of the OPIC Investment Funds Program, please visit OPIC’s Investment Funds website (www.opic.gov).
Questions Relating to this Call
All questions concerning the Call must be received by OPIC by 3:00 p.m. EST on November 23, 2009 (the “Inquiry Deadline”) using the Submit Comment/Questions form on this web site. Questions received in accordance with this section will be answered and posted to the Supplemental Information page. As all applicants will be able to view the questions and answers, applicants should be cognizant of divulging proprietary information in their questions. Questions submitted after the Inquiry Deadline will not be considered.
Incurring Costs
OPIC will not be liable for any costs incurred in connection with the submission of a proposal.
Rejection of Proposals
OPIC reserves the right not to select any of the proposals and to re-initiate the Call, or to suggest that proposals be supplemented or combined with other proposals without reinitiating the selection process. The issuance of the Call does not obligate OPIC to provide support to any proposal or any selected fund.
NOTICE: This is a United States Government computer system, and is provided only for authorized use. It may be monitored for all lawful purposes, including for management of the system and for protection against unauthorized access. During monitoring, information may be examined, recorded, copied, and used for authorized purposes. All information, including personal information, placed on or sent over this system may be monitored. Use of this system, authorized or unauthorized, constitutes consent to such monitoring. Unauthorized access or use may subject you to criminal prosecution. Evidence of unauthorized use collected during monitoring may be used for administrative, criminal or other adverse action. Use of this system constitutes consent to monitoring for these purposes.
GLOBAL TECHNOLOGY AND INNOVATION FUND
Fund Manager Selection Process Timeline
Step in Process Timing
Call for Proposals issued October 20, 2009
Last day for managers to ask questions about the Call for Proposals November 23, 2009
Proposals due from prospective groups November 30, 2009
OPIC meetings with finalists in Washington, D.C. January 11-15, 2010
Due diligence site visits completed on finalists February 1-12, 2010
Detailed due diligence analysis completed on finalists March, 2010
Final selection June, 2010
OPIC supports U.S. investment in emerging markets worldwide, fostering development & the growth of free markets.
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ON THE INTERNET:
http://www.opic.gov/doing-business/accountability
http://www.opic.gov/doing-business/investment
http://www.opic.gov/publications/foia
"During his speech in Cairo on June 4, the President announced that the United States would "launch a new fund to support technological development in Muslim-majority countries." As the latest step in delivering on this commitment, the Overseas Private Investment Corporation announced this week a call for proposals for a Global Technology and Innovation Fund."
Millions and millions and millions and millions...
And this is benefitting the U.S. exactly how?
I said before that 0bama is not concerned with being elected to a second term.
Previously...
Quote:
THE BRIEFING ROOM
THE WHITE HOUSE
Office of the Press Secretary
(Cairo, Egypt)
____________________________________________
FOR IMMEDIATE RELEASE June 4, 2009
REMARKS BY PRESIDENT OBAMA
AND PRESIDENT HOSNI MUBARAK OF EGYPT
BEFORE BILATERAL MEETING
Quba Palace
Cairo, Egypt
10:29 A.M. (Local)
PRESIDENT MUBARAK: (As translated.) I’d like to welcome President Obama to Egypt. This is his first — our first meeting together. We discussed so many issues — the Middle East issues — interests in the region. We also discussed all problems here in the region, the situation and everything related to Iran and to the region.
I repeat welcoming Mr. Obama. We discussed everything candidly and frankly, without any reservation. But there are other meetings that will take place later either in the United States of America or anywhere else.
Thank you very much.
PRESIDENT OBAMA: Well, I just want to thank President Mubarak, as well as the people of Egypt, for their wonderful hospitality. I’m very much looking forward to speaking at the university this afternoon. I wanted to first sit down with President Mubarak, who obviously has decades of experience on a whole range of issues.
As the President has indicated, we discussed the situation with Israel and the Palestinians. We discussed how we can move forward in a constructive way that brings about peace and prosperity for all people in the region. And I emphasized to him that America is committed to working in partnership with the countries in the region so that all people can meet their aspirations.
And I’m very much looking forward in the months and years to come to continuing to consult with the President. And I’ve communicated to him and I want to communicate to the Egyptian people our greetings from America.
Thank you.
END 10:32 A.M. (Local)
###
"During his speech in Cairo on June 4, the President announced..."
the DNC has always considered that it OWNS all the
US Patent applications by US citizens.
It sold them to China under Clinton for DNC donations.
Now they will be given to Islamic countries with
US taxpayer money. How convenient.
read later
Funding based upon religion? Why not fund Christian innovation - the Phillipines could use it more and have done less to harm us.
Why not just stop funding everyone outside the US. People are unemployed at home, that’s where charity should begin.
What an idiot in the Whitehouse. This money will go right into weapons technology.
Stupidest man alive: Barack Obama.
Money to jump start Nuclear Weapons programs in the Islamic countries?
Note: The new url for the thread in post no. 1 is:
Note: The following text is a quote:
Home • Briefing Room • Statements & Releases
The White House
Office of the Press Secretary
For Immediate Release October 23, 2009
White House Announces Global Technology and Innovation Fund
During his speech in Cairo on June 4, the President announced that the United States would “launch a new fund to support technological development in Muslim-majority countries.” As the latest step in delivering on this commitment, the Overseas Private Investment Corporation announced this week a call for proposals for a Global Technology and Innovation Fund. This fund will help catalyze and facilitate private sector investments that promote access to and growth of technology in OPIC-eligible countries throughout Asia, the Middle East, and Africa. OPIC will provide financing ranging between $25 million and $150 million in total capital for each selected fund.
The Global Technology and Innovation Fund is part of an on-going U.S. government effort to expand partnerships that advance economic opportunity and job creation - including in Muslim-majority countries. Specifically, the sectors of interest for prospective funds may address issues that can have a transformational impact in these regions such as technology, education, telecom, media, business services and financial technology and clean-tech.
More information is available at: http://www.opic.gov/investment-funds/calls-for-proposals/global-technology-innovation-fund/.
Thread Bump.
uote:
http://www.freerepublic.com/focus/f-bloggers/2470057/posts
NASA plans more outreach to Muslim countries
Orlando Sentinel ^ | February 16, 2010 | Mark Matthews
Posted on March 12, 2010 7:19:00 PM PST by myknowledge
WASHINGTON — NASA Administrator Charlie Bolden said Tuesday that President Barack Obama has asked him to “find ways to reach out to dominantly Muslim countries” as the White House pushes the space agency to become a tool of international diplomacy.
“In addition to the nations that most of you usually hear about when you think about the International Space Station, we now have expanded our efforts to reach out to non-traditional partners,” said Bolden, speaking to a lecture hall of young engineering students.
(Excerpt) Read more at blogs.orlandosentinel.com ...