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Home > BizTimes Daily > Archives > June 19, 2008
State attracting more early-stage business investments
Published June 19, 2008 - BizTimes Daily
For years Wisconsin has struggled to attract angel investors and venture capital, but a new report indicates the situation is improving.
Private dollars invested in Wisconsin start-up companies operating in high-growth sectors such as biotechnology grew substantially in 2007, according to the report released Wednesday.
The survey, conducted by NorthStar Economics and the Wisconsin Angel Network, showed $146.9 million in early-stage investments in the state in 2007, up from $102.9 million in 2006. That's a 43 percent increase in dollars invested by individual angel investors, angel networks, early-stage funds and others interested in Wisconsin start-up deals.
Venture capital investments in Wisconsin, later-stage investments made after early-stage companies begin to grow, also increased in 2007 to $90 million from $73 million in 2006, the survey showed.
In addition to the early-stage and venture capital investments, Wisconsin also showed year-over-year gains in initial public offerings (four offerings raised $343 million) and federal small business innovation research grants ($33.7 million).
"Wisconsin's early-stage capital market is growing at a rate that exceeds the U.S. average, which speaks to the tremendous strides being made by Wisconsin start-ups and those who help those companies grow," said Mark Bugher, chairman of the Wisconsin Tech Council and director of University Research Park in Madison.
