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WisBusiness.com: The Show
See the latest updates on business and investing in Wisconsin.
This week's show features CEO of Virent Energy Systems, Lee Edwards.
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Inside Wisconsin
Tom Still, president of the Wisconsin Technology Council, comments on Wisconsin's success at attracting federal funding through military contracts.
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WAN Members
Investor-members
Appletree Capital
Baird Venture Partners
Brady Corporation
Capital Midwest
Capvest Venture Fund
Central Illinois Angels
Central WI Business Angels
Continuum Investment Partners
DaneVest
Daycholah Capital
Golden Angels Network
Illinois Business & Investors Forum
Kegonsa Partners
Lake Superior Angel Network
Marshfield Investment Partners
Mason Wells
MDC Venture Debt Fund
NEW Capital Fund
Peak Ridge Capital
Origin Investment Group
Pennies from Heaven
Phenomenelle Angels Fund
Promega Corporation
Silicon Pastures
St. Croix Valley Angel Network
Stateline Angels
Successful Entrepreneur Investors
Triathlon Medical Ventures
Venture Investors
Wisconsin Investment Partners
Women Angels, LLC
Informal networks: 1
Advisory Committee
Sec. Lorrie Keating
Heinemann (Chair)
Dept. of Financial Institutions
Sec. Aaron Olver
Dept. of Commerce
Tim Keane
Golden Angels Network
Richard Leazer
Wisconsin Investment Partners
John Neis
Venture Investors
Tom Still
Wisconsin Technology Council
David Ward
NorthStar Economics
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Newsletter Sponsors
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The U.S. unemployment rate is hovering at nine percent. Politicians running in the fall elections are trying to convince voters they have plans to create jobs. The Kauffman Foundation recently released a study aimed at policy makers, which concludes start-ups are the only source of job creation, read more by following this link. In a commentary recently published in Businessweek titled How America Can Create Jobs, Andy Grove, former CEO and chairman of Intel, stresses not only the importance of start-ups but also another vital component to job creation, building large, successful businesses in the United States. Read Grove's commentary by following this link.
The Wisconsin Technology Council recently published its policy recommendations, which focus on growing Wisconsin's high tech economy. See below for more information. |
 Tech Council 'white papers' recommend steps to expand Wisconsin economy
 Wisconsin's economy has been shaped and reshaped over the years by citizens who adapted quickly to changing times. We now stand at just such a crossroads in the history of the state. To build a 21st century economy, Wisconsin must make the most of its people, resources and opportunities, and meet the challenges posed by the rise of the "Knowledge Economy." Improving access to investment capital for entrepreneurs, building a more educated workforce, creating a stronger business climate and speeding technology from the lab to the marketplace are major themes of the Wisconsin Technology Council's 2010-2011 "white papers" report. Follow this link for a report summary and this link to download the full report. |
Changes to "accredited investor" definition in effect
The recent financial reform legislation passed by Congress and signed into law by President Obama is in effect. While the major, negative changes in the original legislation were modified, one change to the net worth requirement for an accredited investor remained. No longer can the "primary residence" be included in meeting the $1 million net worth means test. In addition, the new law gave regulators more ability to stop "bad actors" from using Regulation D exemptions. To read the full text of the law, posted by the Angel Capital Association, follow this link. See pages 202-203 for the changes made to the accredited investor net worth calculation and page 476 for the "bad actor" language. |
Slow going for venture funds trying to raise capital
It may surprise entrepreneurs, but venture capitalists go through their own funding rounds. Often it is not an easy task to raise millions for a fund and the economic downturn has compounded the typical fundraising difficulties. A recent report by the National Venture Capital Association and Thomson Reuters details the past year's fundraising efforts by VCs, with the second quarter of 2010 having the lowest level of fundraising in seven years. This does not bode well for later-stage companies, and their early stage investors, that are in need of future rounds of funding. Follow this link to the press release that includes fundraising figures and a quick analysis of the industry. |
Dane County YES! business plan contest finalists announced
 Producers of the second Dane County YES! youth business plan contest announced this year's Grand Prize winner, Nelson Auner, who graduated in June from Madison East High School. The Dane County YES! contest guides students in exploring business creativity though entrepreneurship, while teaching financial literacy and providing opportunities to interact with knowledgeable business professionals. The six-month contest directs students and small teams though the process of turning a bright idea into a business plan in an online contest format which utilizes the web-based architecture behind the Tech Council's Wisconsin Governor's Business Plan Contest. Read more about this year's finalists and about the innovative contest by following this link. |
Revised carried interest law off Senate calendar
Embedded within the recent jobs bill was a change that would have taxed much of the carried interest earned by VCs and other investors as ordinary income instead of capital gains. While the legislative fight over revised carried interest is over for now, it is believed this will be brought up again. Read more about potential changes to carried interest by following this link to a blog post at Forbes.com. |
Lake Superior Tech Conference, August 5 in Ashland
 The 2010 Lake Superior Business and Technology Conference, a regional event focusing on Fostering Entrepreneurship in the Lake Superior Region will be held from 9:00 am to 3:30 pm Thursday, August 5 at Wisconsin Indianhead Technical College in Ashland. Regional business expert and writer Daryl Erdman will deliver the keynote speech, "The Care and Feeding of Entrepreneurs" at this 5th annual conference organized by the Lake Superior Chapter of the Wisconsin Innovation Network (WIN). Follow this link to more information. |
CleanTech Open semi-finalists announced
 The organizers of the 2010 CleanTech Open announced the contest's semi-finalists. Of the 104 semi-finalists, 16 represent the North Central division, which includes the Dakotas, Minnesota, Iowa, Wisconsin and Illinois. Three Wisconsin companies are part of the semi-finalist round and will be competing in the second phase of the contest which includes submitting a full business plan. The companies are Blue Planet Strategies*, Xolve* (formerly known as Graphene Solutions), and CORE. *Denotes a Wisconsin Governor's Business Plan Contest finalist. Learn more about the CleanTech Open and the other semi-finalists by following this link. |
I-Q Corridor deals, acquisitions and exits
Cytometix Inc. $1.9 million from individual investors, read more. IOD Inc. $35 million by LLR Partners of Philadelphia, read more. Endece $6 million by individual investors, read more. Other investment news:
Surgical Site Solutions Inc. certified as a qualified new business, read more.
Exact Sciences licenses technology for use in cancer tests, read more.
State's health care start-ups raised $50 million through midyear, read more. Echometrix issued two patents, read more. |
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In Closing
The 2010-2011 Tech Council white papers begin with recommendations on improving access to capital for Wisconsin's entrepreneurs, with a focus on later-stage capital. Previous public policy initiatives have proven to be successful at enhancing early stage capital, follow this link to the WAN's yearly release of early stage investment figures in Wisconsin. However, Wisconsin's later-stage capital market is still dismal. Bold policy action is required if Wisconsin is to emerge from the economic downturn strong and in control of its own destiny. Download the Tech Council white papers by following this link. Please share eVestor with others; if you're not on our e-mail list, click here to join.
Joe Kremer, director
Wisconsin Angel Network
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