Eight Businesses Certified for Qualified New Business Venture Tax Credits

For Immediate Release
Contact: Tom Thieding,  608-210-6767  608-210-6767 tom.thieding@wedc.org   
Link to Releasehttp://wedc.org/qnbvmay

MADISON, May 16, 2012 – Eight entrepreneurial businesses have been certified for Qualified New Business Venture (QNBV) tax credits by the Wisconsin Economic Development Corporation (WEDC) to help them seek new investment. Those businesses receiving certification include:

  • GolfPipeline, Inc., Menomonee Falls
  • Imaging Biometrics, LLC, Elm Grove
  • NorthStar Medical Radioisotopes, LLC, Madison
  • Elaion Biosciences, Inc., Madison
  • 1Engineering & Manufacturing, LLC, Neenah
  • Keystone Insights, LLC, Menomonee Falls
  • Renwig Custom, LLC, Whitewater
  • Somna Theraputics, LLC, Mequon

The QNBV status makes investors in the company eligible for a 25 percent tax credit on the amount they invest in the business. The WEDC said the QNBV program and new incentives for investment in these companies will accelerate their potential for growth and job creation in Wisconsin.

About GolfPipeline, Inc.

Golf Pipeline is an internet-based startup focused on providing value-added reservations services and social network connections for the golf industry. The company has created a web portal that allows golfers to connect to one another, find courses with desired features, make reservations, invite fellow golfers and manage those reservations electronically, and track scores. The overall concept borrows features from social networking sites, travel reservation sites, restaurant reservation sites, and other successful internet service models. The company officially launched their web portal for tee time reservations and score tracking as of April 1st.

About Imaging Biometrics, LLC

Imaging Biometrics develops medical scan image processing technology. The company’s technology can detect and image the increased blood flow and blood volume associated with tumor development. The software is designed to interface as an add-on to existing MRI and CT hardware and should be readily incorporated into the existing workflow. Imaging Biometrics is playing an important role in the early diagnosis and optimization of treatment planning for patients with brain disorders.

About NorthStar Medical Radioisotopes, LLC

NorthStar Medical Radioisotopes provides a new technology source of radioactive isotopes to the medical imaging and a developing therapeutic market. North Star patented technology and material produces a stable version of isotopes, an alternative that is supposedly a safe option to the current used Uranium which is unstable, poses a significant proliferation risk and is also difficult to dispose.

About Elaion Biosciences, Inc.

Elaion Biosciences was founded in 2010 to commercialize Immiscible Filtration Assisted by Surface Tension technology which provides a unique way to purify DNA, RNA, protein and cells. The technology can be used to solve or improve the performance and cost of clinical diagnostics.

About 1Engineering & Manufacturing, LLC

1Engineering & Manufacturing designs patented engineering solutions for customers in the subsea oil and gas market. 1Engineering & Manufacturing’s current product line includes saturation diving systems, launch and recovering systems, remote operated vehicle, pressure vessels and industrial skid packages. Through the use of new 1Engineering & Manufacturing productions, the company will be able to increase efficiency in the oil extraction process and improve transportation and refining.

About Keystone Insights, LLC

Keystone Insights is a software solutions company that combines web-based and mobile device access with cloud server technology, allowing individual users to gain access to powerful tools without the need for expensive IT support. Its first product launch, DocWrite 1.0, offers fully secured, HIPAA supported creation and access of dictation and transcription services, which is available on the Apple App Store. The company has developed an updated version of this app which allows users to record conversations and notes, upload the dictation to a secure web-based storage area, and have that dictation transcribed into text.

About Renwig Custom, LLC

Renwig Custom is a boutique amplifier builder specializing in analog tube amplifiers for professional, hobbyist and semi-professional guitarists and bassists. The company’s patent pending product is the Robotic Amplifier which allows the guitarist/bassist to manipulate the tone from their amp with a foot switch instead of using digital processing technology, which degrades sound quality.

About Somna Theraputics, LLC

Somna Theraputics is a medical technology company focusing on patients suffering from extraesophageal reflux disease and the numerous chronic symptoms to which it is associated. The company has invented a device, called Reza-Band, which prevents reflux of stomach contents into the throat and airways. This gives patients the option to be relieved of symptoms without medicine or surgery. The development of the product in still in development, but the band has a patent pending.