Wyoming City Council, new venture fund ink MOU
A new venture capital firm will put down its roots in Wyoming’s capital city, in part thanks to a Cheyenne City Council memorandum of understanding (MOU) passed recently.
The Founders of EQ Capital have worked with the council over the past two weeks, seeking support for building a “technology ecosystem” in the state. While their sights were already set on Cheyenne due to the business environment in Wyoming, Founders Madhavan Ramakrishnan and John Castagnini wanted to be sure they had a collaborative partner in the city before they set their decision in stone.
The council solidified that support by passing the MOU, which will serve as a “framework for any future binding contract” and voices the council’s approval of the firm’s mission. While the document doesn’t define any contractual obligations, it does outline each party’s responsibilities going forward. By passing the MOU, the council agreed to promote the tech ecosystem and EQ Capital’s start-up accelerator. The city also agreed to work “proactively” on improving infrastructure necessary for start-ups – security, fiber broadband and housing.
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