June 2009
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June is a month during which some long-term projects conclude -- and others begin. The Tech Council is working on its annual Wisconsin Portfolio, a look at historical and current risk capital metrics. The Governor's Business Plan Contest finished with the grand finale presentations by the top 12 finalists. The annual Entrepreneurs' Conference drew 403 entrepreneurs, investors and professionals to Milwaukee. In addition, WAN hosted John May, often called the "father of angel networks," in meetings with Wisconsin investment groups. May conducted workshops on due diligence. State government's biennial budget was signed into law, and the tech economy remained a priority. And the Tech Council will help bring the MidAmerica Healthcare Venture Forum to Madison in November. More information on the events along with this month's "Deals made" below.

Due Diligence Workshops and John May in Wisconsin
 

During the week of June 22, WAN and partners organized several investor-educational programs featuring John May, managing partner of the New Vantage Group in Vienna, Va. During his visit John conducted two training workshops, one in Madison and another in Superior, on due diligence. He also met with Silicon Pastures, an angel network based in Milwaukee, and entrepreneurs from the Lake Superior region.

In Madison, more than 30 investors, tech transfer professionals and others came together to network and learn more about launching and funding university start-ups. The event was co-organized with the Midwest Research University Network (MRUN) and lead sponsor the law firm of Whyte Hirschboeck Dudek S.C. Follow this link to more information on the event.

In Superior, 15 investors and professionals participated in the hands-on due diligence workshop organized by the Lake Superior Angel Network (LSAN) and partners. Follow this link to more information on the workshop. Prior to the workshop, John May met with 10 Lake Superior region entrepreneurs to discuss how to attract angel investors to start-ups.


Wrap-up: 2009 Wisconsin Entrepreneurs' Conference
 

The Entrepreneurs' Conference is one of the Midwest's premier networking and hands-on events for entrepreneurs. Business leaders, investors and others made connections as they learned how to crack into today's emerging markets. More than 400 people attended the two-day event held June 9-10, which by all accounts exceeded expectations. To learn more about what happened at the conference, follow this link.


Wrap-up: 2009 Governor's Business Plan Contest
 

The sixth annual Wisconsin Governor's Business Plan Contest culminated with the live judging of the 12 finalists' presentations on June 9 in Milwaukee. Vying for more than $200,000 in cash and prizes, the finalists made their pitches to the judges and an audience of 160 people during the 2009 Entrepreneurs' Conference. Read more on the event and this year's winners.


MidAmerica Healthcare Venture Forum
 

The MidAmerica Healthcare Venture Forum will be held Nov. 10-12 at Monona Terrace in Madison, side-by-side with the Wisconsin Early Stage Symposium. This is one of the nation's largest regional platforms to showcase healthcare start-ups and emerging growth companies, and will attract more than 200 private equity investors from 14 states to Madison. Read more on the event or register by following this link.


State Budget Signed
 
Contains incentives to boost entrepreneurial and tech-based economy

The biennial state budget signed into law Monday by Gov. Jim Doyle builds on recent efforts to enhance Wisconsin's tech-based economy through targeted tax credits, investments in core research projects and other incentives for companies and entrepreneurs. A number of the ideas were rooted in recommendations by the non-partisan Wisconsin Technology Council in its "white paper" reports to the governor and the Legislature. The most recent report was issued in late 2008.

Read more here.


Deals, Acquisitions and Exits
 

ProCertus BioPharm, Inc., $2.1 million by Venture Investors*, Novartis Venture Fund and others.
  *WAN investor-member

Other investment news:

Virent Energy Systems awarded the EPA Presidential Green Chemistry Challenge Award, read more.
Nerites received a $99,990 federal grant, read more.
Exact Sciences Corporation received a $1 million loan from the Department of Commerce, read more.
Integrated Genomics, Inc. received a $250,000 loan from the Department of Commerce, read more.
etrials acquired by Merge Healthcare, read more.

Are we missing a deal or other news? Please e-mail us at info@wisconsinangelnetwork.com.


Upcoming Events
 

WIN-Milwaukee The Battle of the Search Engines July 9
Lake Superior Technology Conference August 6, Ashland
Wisconsin Early Stage Symposium Nov. 10-11, Madison
MidAmerica Healthcare Venture Forum Nov. 10-12, Madison


As the first month of summer draws to a close, the economy is starting to show glimmers of hope, allowing some to think the worse is over. Read more. Regardless of larger trends, Wisconsin's entrepreneurial future is bright. The 12 finalists in the 2009 Governor's Business Plan Contest are proof that Wisconsin's entrepreneurs are becoming more sophisticated at developing business strategies and selling their plans. Each of this year's top 12 could have taken home the grand prize, a significant sign of the strength and depth of Wisconsin's "entrepreneurial bench."

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Sincerely,

joe kremer's signature
Joe Kremer, director
Wisconsin Angel Network