WEDC is partnering with three members of Invest in Wisconsin to make available $1 million in new loans and grants to early-stage tech startups.
Invest in Wisconsin is made up of four of the state’s certified community development financial institutions aiming to improve economic opportunities for people of color and low-income residents in rural Wisconsin.
The Wisconsin Economic Development Corp. has awarded a $500,000 matching grant to three of these members: Community Assets for People, First American Capital Corporation and Wisconsin Women’s Business Initiative Corporation. These groups will match the WEDC grant and facilitate the loans while also providing business technical support.
Lesley Hutchins, development and marketing director for Invest in Wisconsin, says the group and its partners in the state have “identified a need to reduce risk aversion” for tech startups and are now making opportunities for them outside the more traditional fundraising avenues. Read the full story here.