Wisconsin’s thriving startup scene got a boost in funding in 2015 with the help of WEDC’s Qualified New Business Venture (QNBV) Program. The program helped 75 startups throughout the state draw more than $176 million in total investment, with the help of $18.3 million in tax credits.
The QNBV Program helps startups close a critical gap in their development by offering tax credits for investments made in QNBV-certified companies. Participating businesses innovate and commercialize products in numerous industries including biotechnology, manufacturing, health technology, energy, information technology and more. The total number of QNBV-certified companies reached 180 in 2015.
Three industries in particular saw the largest share of funding in 2015: information technology, biotechnology and health technology garnered $30.6 million, $16.7 million and 12.5 million respectively.
The report also showed an increase in the amount of angel and early-stage funding. Angel funding came in at $49.4 million in 2015, up from $27.9 million the year before. Similarly, early-stage funding increased up to $23.7 million from $22.6 million in 2014.
For more information on investments in Wisconsin and 2015 QNBV results, read the latest issue of INvest Quarterly.