The upper Midwest has no shortage of examples of
cooperation: Local, state, provincial and federal
governments have come together around projects to
protect the Boundary Waters, the Mississippi River
and the Great Lakes; to exchange research data; and
to remove barriers to commerce. It is within that spirit
that groups along the "I-Q Corridor" that binds Minnesota,
Wisconsin and Illinois are working together to create a
more innovative economy across those political
borders. Nearly half the deals reported this year to the
Wisconsin Angel Network have been investments
made by multiple investors and groups, sometimes
across state lines. After the inaugural
I-Q Corridor Investors' Symposium, we
hope more deal-sharing will take place among
investors in Minnesota and Wisconsin.
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Monthly Member Profiles
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Investor: NEW Capital Fund
Several
years ago business leaders from around Northeast
Wisconsin decided their region needed to band
together and focus on building their economy. One
result was the creation of the NEW Capital Fund,
which typically invests
between $250,000 and $2 million in early-stage
companies. Since its launch in
2006 the fund has already made three investments.
Read more...
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Entrepreneur: Quincy Bioscience
Founded in 2004 and financed by angel
investors, Quincy Bioscience is developing
compounds to treat neurodegenerative diseases
such as Alzheimer's and Multiple
Sclerosis. Like many pharmaceutical
start-ups, Quincy's drugs are years away from
commercialization. However, instead of falling into the
timeless tradition of continually seeking capital, the
company is launching a product
now,
called Prevagen. This
fall the nationwide marketing campaign for Prevagen
begins in earnest with a professionally produced
infomercial.
Read more...
Watch an overview of Prevagen,
recorded using WAN's
ePlan equipment.
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Deals Made
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Over $5 million in 4 deals were reported to WAN
during
the past month.
CDI Bioscience Inc. formerly Clonex
Development $3 million by
Battelle Ventures
Lake Resources Group Inc $375,000 by
individuals
Nemean Networks LLC $1.5 million by
Badger Alumni Capital Network
PercipEnz Technologies $1 million by NEW
Capital Fund*, Wisconsin Investment
 Partners*, and
Silicon Pastures*
*WAN Investor-member
WAN member Kegonsa Capital Partners of Madison
was named one of the Top 100
Venture Capital Firms for Entrepreneurs by
Entrepreneur magazine.
Read more...
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Investing Resources
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Wisconsin Investment Tax
Credits
The Wisconsin Department of Commerce recently
updated the investment tax credit website, making it
easier for entrepreneurs and investors to learn how
they can take advantage of the program.
Entrepreneurs click here to view information on
becoming a Qualified New Business Venture (QNBV),
which is required to be tax-credit eligible.
Investors click here for
information on how to claim tax credits.
For a
video overview of the program by Pam Christenson of
the Department of Commerce follow this link.
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