The age-old question of what’s the right mix of mentorship, funding and programs to provide the maximum economic benefit for the local economy is one that many states deal with. And it’s a question that representatives from PitchBook posed during their visit to Wisconsin this month.
A key takeaway from the roundtable hosted by Governor Scott Walker and WEDC, and attended by WI angels, several startups, the CEO of American Family, and representatives from the University of Wisconsin System, was how to establish stronger ties between existing Wisconsin corporations and Wisconsin’s startup-emerging growth companies. Continuing to increase availability of investment capital in the state was also a discussion point. Other topics included non-compete agreements, state regulations and tax structures, and tech transfer restrictions.
It was a fantastic day full of lively conversation and positive steps to help Wisconsin’s entrepreneurs succeed. Following the roundtable, Governor Walker signed Assembly Bill 350 into law, making Wisconsin the third state to have a state-level crowdfunding bill. Take some time to read PitchBook’s take on the day here.
My favorite part of their blog post is:
“…what is clear is that there is a growing startup community in Wisconsin—evidenced by 172 venture capital and angel deals of $382 million since 2011 (through Nov. 7, 2013, according to PitchBook data), both of which are more than the state has seen in any comparable time period before. It’s now just a matter of bridging the gaps and making it easier for entrepreneurs to access capital and know that each step will be available to them as they build their businesses.”