Wisconsin Technology Council 'white papers' process underway

The meeting will feature a presentation by the fund’s managers, Sun Mountain Kegonsa, who are developing plans to invest $25 million from the state of Wisconsin plus matching private dollars in Wisconsin-based companies.

To learn more and get registered, go here.

A Madison-based manufacturer of energy-saving auxiliary power units (APUs) that was started by a former truck driver has sold to a Minnesota-based manufacturer for an undisclosed sum.

Founded in 2003, Idle Free Systems provides drivers in long-haul trucks with heat, air conditioning and electricity inside their sleeper cabs without having to idle, or run the vehicles' engines, according to the Wisconsin State Journal.

The company's founder, Robert Jordan, saw an opportunity based on the waste he saw during his 20-year career of more than 6,000 hours sleeping in his truck. Idle Free raised initial rounds of capital in 2009 from Kegonsa Capital Partners.

WIN-Lake Superior to host August 8 conference in Ashland

The 2014 Lake Superior Business & Technology Conference will be held Friday, Aug. 8, in Ashland. The event, which runs from 9 a.m. – 3:30 p.m. at the Wisconsin Indianhead Technical College, is $30 for general admission and $10 for students.

The event will feature presentations from Bob Davies, professor, UW-Stout and national business consultant; Doug Moquin, retired vice president, Phillips Plastics Corp.; Morna Foy, president, Wisconsin Technical College System; Jim Hagstrom, entrepreneur and developer, Blue Wave on the Bay; and Randy Hulke, director, UW-Stout Discovery Center. Lt. Gov. Rebecca Kleefisch will also attend. This year’s Business Idea Contest finalists' will present their entries.

Register here. For more information on the conference, call the Ashland County UW-Extension office at (715) 682-7017 or the Bayfield County UW-Extension office at (715) 373-6104. The event is produced by the Lake Superior chapter of the Wisconsin Innovation Network.

Tech Council welcomes new WIN director, Maurice Cheeks

Maurice “Mo” Cheeks has joined the Wisconsin Technology Council as the director of its Wisconsin Innovation Network.

Cheeks previously served as director of sales and outreach at Filament Games, which grew from 25 to more than 40 employees while partnering with national organizations such as the Smithsonian Institution, McGraw-Hill Education and U.S. Supreme Court Justice Sandra Day O’Connor’s iCivics.org.

Read more in an interview with Mo. Cheeks can be contacted at 608-442-7557 or mocheeks@wisconsintechnologycouncil.com.

Senators push legislation to help startups, angels

Two new pieces of federal legislation were introduced that could affect early stage investing in Wisconsin and across the country. A pair of senators, including sponsor Sen. Chris Murphy (D-Conn.), were joined by two congressmen in sponsoring a federal 25 percent angel tax credit program, similar to existing programs in states like Wisconsin.

Separately, Murphy recently introduced a bill, titled "HALOs Act" or "Helping Angels Lead our Startups Act," which would provide more definition around what constitutes a "general solicitation." Entrepreneurs and investors have expressed concern about what constitutes general solicitation since the SEC lifted the ban on founders openly advertising their offering.

The developments come at the same time as the SEC is conducting a review of the current accredited investor standard ($200,000 income and $1 million net worth). The Wisconsin Angel Network submitted a recent letter to the SEC urging regulators to keep the current net worth and income thresholds in place. Read the letter here.

Angel group gets win with portfolio company deal

The Chippewa Valley Angel Investor Network was among the investors who saw a solid return from its investments in Minnesota-based ABILITY Network, which recently received a $550 million strategic investment.

The Northwest Wisconsin angel group made their first investment in the healthcare technology company in 2006. ABILITY recently received the large strategic investment from Summit Partners, a growth equity firm based in California that was also featured at a Wisconsin Angel Network investor event in Madison.

Read more on the investment here.

Exact Sciences CEO Kevin Conroy wins entrepreneurship award

Kevin Conroy, chief executive officer of Exact Sciences Corp. and Wisconsin Technology Council board member, is one of eight executives named EY Entrepreneur of the Year in the Midwest. Exact Sciences, Madison, has developed a stool-based, DNA test for colorectal cancer.

Read the full Wisconsin State Journal story here.