That’s up from $385 million in 2016, and $328 million in 2015, according to a release from the Wisconsin Economic Development Corporation.
The latest report on WEDC’s entrepreneurship programs was released this week. As with last year’s report, WEDC highlights job creation numbers and economic impact of four programs: the Capital Catalyst Program, Qualified New Business Venture Program, Seed Accelerator Program and Technology Development Loan Program.
Last year, 312 companies were assisted through those programs — down slightly from 314 companies in 2016. They supported 2,662 jobs, which is also down from the previous total of 2,850.
Revenue generated by WEDC-supported startup rose sharply from $85 million to $214 million.
Companies qualifying for the QNBV program raised a total of $239.8 million last year. Of that money, about $43 million was eligible for QNBV tax credits. That means nearly $11 million in tax credits were earned by qualifying investors last year.
In 2016, a total of $281.7 million was raised by certified companies, and nearly $72 million of that was eligible for tax credits. Close to $18 million in tax credits were earned in 2016.
The pace of new QNBV certifications hasn’t slowed much, with 43 new certifications in 2017 compared to 47 in 2016.
The WEDC report also includes a section on technology development loans, which go to businesses providing high-tech solutions with broad market appeal. The loans are usually between $100,000 and $750,000, and must be part of a larger funding round.
In 2017, the TDL program had 104 active loans with 88 companies. That’s compared to 96 active loans with 80 companies in the previous year.
Despite only a modest increase in the number of loans and participating companies, revenue generated by those companies went from $40.3 million in 2016, to $132 million in 2017.
See the full 2017 report here: http://wedc.org/wp-content/uploads/2018/12/2017-EI-Program-Impact-Report.pdf