MILWAUKEE – Wisconsin Technology Council President Tom Still issued the following statement after Gov. Scott Walker signed the early stage capital bill into law.
“The Wisconsin Technology Council heralds today’s historic bill signing and applauds Gov. Scott Walker for his leadership on this bipartisan effort to provide much-needed capital to state companies and entrepreneurs,” said Tech Council President Tom Still. “We can celebrate this achievement thanks to the efforts of Walker, the bill’s legislative sponsors and supporters, and the broad coalition in the business and entrepreneurial community who supported this crucial effort.”
Assembly Bill 181 will make the state a partner in a larger “fund of funds” that would match the state’s $25 million investment with $50 million in private investment. The rulemaking process will now begin, which will include a process of selecting a private manager for the fund and further requirements around how the investments will be made in to companies in the following sectors: agriculture, advanced manufacturing, engineered products, information technology, medical devices and medical imaging.
“Through the Wisconsin Angel Network, the Wisconsin Growth Capital Coalition and the industry experts on the Wisconsin Technology Council Board, we will continue to work on making capital available to entrepreneurs across the state of Wisconsin,” Still said. “This fund sends a message that our state believes strongly in its promising companies and entrepreneurs.”
Coverage of the bill signing:
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