UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-54A

NOTIFICATION OF ELECTION TO BE SUBJECT TO SECTIONS 55

THROUGH 65 OF THE INVESTMENT COMPANY ACT OF 1940 FILED

PURSUANT TO SECTION 54(a) OF THE ACT

The undersigned business development company hereby notifies the Securities and Exchange Commission that it elects, pursuant to the provisions of section 54(a) of the Investment Company Act of 1940 (the “Act”), to be subject to the provisions of sections 55 through 65 of the Act and, in connection with such notification of election, submits the following information:

Name: FIRSTHAND TECHNOLOGY VALUE FUND, INC.

Address of Principal Business Office:

111 N. Market Street, Suite 105

San Jose, CA  95113

Telephone Number: (408) 886-7096

Name and address of agent for service of process:

The Corporation Trust Incorporated

351 West Camden Street

Baltimore, MD 21201-7912

Check one of the following:

x The company has filed a registration statement for a class of equity securities pursuant to section 12 of the Securities Exchange Act of 1934.   Give the file number of the registration statement or, if the file number is unknown or has not yet been assigned, give the date on which the registration statement was filed:

July 19, 2010

o The company is relying on rule 12g-2 under the Securities Exchange Act of 1934 in lieu of filing a registration statement for a class of equity securities under that Act.

The file number of the registration as an investment company pursuant to section 8(a) of the Act, if any, of the company: Not yet assigned

The file number of the registration as an investment company pursuant to section 8(a) of the Act, if any, of any subsidiary of the company: Not applicable

The undersigned company certifies that it is a closed-end company organized under the laws of Maryland and with its principal place of business in California; that it will be operated for the purpose of making investments in securities described in section 55(a)(1) through (3) of the Investment Company Act of 1940; and that it will make available significant managerial assistance with respect to issuers of such securities to the extent required by the Act.

SIGNATURES

     Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has caused this Notification of Election to be Subject to Sections 55 through 65 of the Investment Company Act of 1940 to be duly signed on its behalf in the City of San Jose in the State of California on the 19th day of July, 2010.

		FIRSTHAND TECHNOLOGY VALUE FUND, INC.
Attest:	/s/ Kelvin Leung	By:	/s/ KEVIN M. LANDIS
	Kelvin Leung	Name:	Kevin M. Landis
		Title:	Director