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Sacramento's Innovation Fund Will Invest in Local Companies, Mayor Says
Techwire: The city of Sacramento will invest in local companies and start a grant program as part of a multimillion-dollar plan to bolster the community's innovation economy, Mayor Kevin Johnson said Saturday morning.
The city is going to invest $1 million in local companies this year, Johnson said. Selections will come from proposals submitted to a new mayoral tech council. The investments potentially could yield a profit for Sacramento that would be used to continually replenish the city's $10 million Innovation Growth Fund, the mayor explained.
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