| March
2009 |
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Raising early stage capital is difficult and often
entrepreneurs make mistakes. To help avoid these costly
missteps, the Wisconsin Angel Network created an easy,
step-by-step guide to the fundamentals of rasing
capital. Entrepreneurs can now walk themselves through
an on-demand, short course on what they need to know
before approaching investors. Following
this link to the WAN's step-by-step guide to raising
capital.
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Lake Superior
Angel Network |
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The Lake Superior Angel Network (LSAN) held its
first investment meeting on Wednesday, February 18
in Superior, WI. LSAN members heard three
presentations from entrepreneurs at various stages
of their businesses: two Lake Superior region
entrepreneurs and one co-investment deal referred
by another angel network.
The
Lake Superior Angel Network is one of a few
networks to make investment meetings available to
its members on-line and on-demand. Members unable
to attend last month's meeting have been able to
view the entrepreneurs' investment presentations
and the subsequent Q&A by LSAN members.
The
next LSAN meeting will take place late in April
and will include an update on the deals currently
being vetted by the group. For more information
about the LSAN please visit www.lakesuperiorangels.com
or contact Joe Kremer at
jkremer@lakesuperiorangels.com or (608)
442-7557.
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Governor's
Business Plan Contest |
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Fifty
entries from 26 communities have advanced to the
semi-final round of the sixth annual Wisconsin
Governor's Business Plan Contest. The contestants
were selected from a field of 326 first-round
entries by an independent panel of judges
organized through the Wisconsin Technology
Council, which is producing the contest in
conjunction with its membership subsidiary, the
Wisconsin Innovation Network, the Wisconsin Angel
Network and other statewide affiliates.
The
top 20 plans plus ties will move on to Phase 3, in
which contestants will write a full business plan.
About $150,000 in cash and in-kind prizes have
been pledged for the 2009 contest thus far. Prize
winners will be announced June 9-10 at the annual
Wisconsin Entrepreneurs' Conference, to be held at
the Hyatt Regency Milwaukee.
Read
more about the semi-final round of the
contest.
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Wisconsin's
Academic R&D Assets |
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A report released earlier this year by the
Wisconsin Technology Council charts the source of
$1.1 billion in academic R&D dollars in
Wisconsin and makes the connection between that
spending and economic activity statewide.
Watch
an on-demand video overview or read
a summary of the report, both by Tom Still,
president of Tech Council.
Download
the full report here. (1.3M .pdf)
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U.S. Patent Reform
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In
early 2008, more than 160 Wisconsin tech-based
companies and institutions endorsed a letter to
U.S. Sens. Herb Kohl and Russ Feingold, both
members of the Senate Judiciary Committee,
regarding concerns over proposed patent reform
legislation. A revised bill will be debated soon
in Congress for the 2009 session.
Click
here to read letters to Kohl and Feingold, and
here if you want your
company or organization to be listed as endorsing
the letters.
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Wisconsin Export
Record |
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Despite
an overall slowing global economy, Wisconsin
exporters broke a record for international
shipments in 2008. Last year, state firms shipped
nearly $20.6 billion worth of products to
countries around the world. That was a 9.2 percent
increase over the previous year. Wisconsin now
ranks as the 17th largest exporting state,
compared to 21st in 2006, read
more.
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Deals,
Acquisitions and Exits |
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Centrose
raised $2.1 million from out-of-state angels, read
more.
Other
News:
Former Third Wave execs to
lead Massachusetts company, read
more.
Mithridion to present at
venture conferences, read
more.
Are we missing a deal or other news? Please
e-mail us at info@wisconsinangelnetwork.com.
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With an
economic decline comes an increase in entrepreneurs starting
their own businesses, follow this
link to Tom Still's, president of the Tech Council, recent
Inside Wisconsin column covering this subject. Often
entrepreneurs rush into the early stage financing market
without knowing what to expect from investors, the process or,
most importantly, themselves. The Wall Street Journal recently
ran an article on the difficulties of being an entrepreneur
called "So,
You Want to Be an Entrepreneur." The more an entrepreneur
is prepared for the hardships, the long funding rounds and
late nights spent meeting rushed deadlines, the more likely
she will be successful. Useful tools and advice for
entrepreneurs raising capital can be found on WAN's free
resource page, follow
this link.
Please forward copies of this month's eVestor; if you're
not on our e-mail list, click here to join.
Sincerely, 
Joe Kremer, director
Wisconsin Angel Network
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