From a better quality of life to access to top-notch talent, cost-effective resources and more, Wisconsin is becoming a destination for entrepreneurs seeking personal and professional fulfillment. Because of the benefit these startups provide to Wisconsin’s economy, WEDC and its network of statewide partners are committed to helping startups reach success. The entrepreneurship initiatives of WEDC and its partners are highlighted in the Entrepreneurship and Innovation In Wisconsin report, which provides data on the programs’ performance in 2016.
Among key metrics, the report shows that WEDC’s direct assistance programs helped more than 314 businesses attract nearly $300 million in new funding and generate over $85 million in revenue, for a total of $385 million in capital. These companies supported 2,133 full-time jobs and 717 part-time jobs in Wisconsin and paid an estimated $111 million in wages. In addition, WEDC’s partners in administering entrepreneurship-related programs assisted 2,215 companies to create more than 407 new jobs and retain an additional 272 jobs.
Even with very promising business ideas, young companies often face funding gaps when their products are not at a phase where investors feel comfortable supporting them. WEDC’s entrepreneurship and innovation programs include a mix of loans, grants, investor tax credits, partnerships and program match funding. Collectively, these initiatives provide technical assistance, fill funding gaps and build an environment where entrepreneurs can thrive.
In addition to performance data, the Entrepreneurship and Innovation In Wisconsin® 2016 report includes company profiles featuring a selection of the state’s most promising startups across a broad range of sectors. Read the full report here.