| In This Issue |
Gov's Biz Plan Contest advances
Golden Angels company acquired
HealthX lays out fund focus
Tech leaders talk Madison scene
Capital Midwest raising next fund
9 teams get IdeaAdvance grants
Budget calls for expanded credits
New Gener8tor class unveiled
Tech Summit slated for March 23
Deals, acquisitions and news
Become a WAN member
Upcoming events
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| Did You Know? |
The Harvard Business Review examined fundraising data over the past five years and found that even though several metro areas still dominate in early-stage venture backed entrepreneurship, smaller cities across the country are beginning to gain ground.
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| Become a WAN Member |
Your $750 WAN membership also includes a membership to the Wisconsin Innovation Network (WIN). This "dual" membership is a $500 value included at no additional cost to you.
Your WIN membership entitles you to one free pass to both major conferences (Wisconsin Entrepreneurs' Conference and Early Stage Symposium), as well as regular WIN events in Madison, Milwaukee, Appleton, Central Wisconsin, Western Wisconsin and the Lake Superior regions.
For more information on WAN memberships, call 608-442-7557 or click here to join.
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| WAN Leadership |
Advisory Committee
Tim Keane (Chair)
Golden Angels Network
Lisa Johnson
Wis. Economic Development Corp.
Dick Leinenkugel
Northwoods Angels
Thomas Shannon
Shamrock / BrightStar Foundation
Tom Still
Wisconsin Technology Council
Andy Shrago
Wisconsin Investment Partners
David Ward
Angels on the Water
Emeritus: Lorrie Keating Heinemann, co-founder
Staff
Dan Blake
Director
608-442-7557
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| 'WisBusiness: The Show' |
The latest episode features features an interview with Derek Hei, director of UW-Madison's Waisman
Biomanufacturing, about the center’s work with early stage clinical
trials.
Previous Shows:
Greg Piefer, SHINE Medical Technologies
Tricia Braun, WEDC
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Wisconsin Innovation Index
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Are you involved in Wisconsin's growing tech
scene? Do you want to get more notice among startups, investors and
others who work with innovators in the state? If so, the recently released Innovation Index map of tech assets in Wisconsin could be for you. The Wisconsin
Technology Council produced the statewide map in partnership with American Family Insurance.
If you would like to purchase a copy for your office, or to find out how your organization can be listed, contact WIN Director Maurice Cheeks at 608-442-7557. |
| Wisconsin Technology Council |
The Wisconsin Angel Network is a program of the Wisconsin Technology Council.
Join the Tech Council's mailing list to stay up-to-date on news, events, programs and more!
Other quick links:
Wisconsin Innovation Network
Tech Council Newsroom
Inside Wisconsin by Tom Still
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| Newsletter Sponsors |
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February 2015
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54 entries advance in the 2015 Governor's Business Plan Contest
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Fifty-four entries from 26
communities have advanced to the semi-final round of the 12th
annual Wisconsin Governor’s
Business Plan Contest, contest producers announced.
The contestants were selected from a field of 238 qualified first-round
entries by an independent panel of more than 80 judges organized through the
Wisconsin Technology Council and its programs, the Wisconsin Innovation Network
and the Wisconsin Angel Network.
The semi-finalists reflect the
diversity of Wisconsin’s economy and are spread among four broad categories:
advanced manufacturing (15), business services (14), information technology (14)
and life sciences (11). Read more about the contest and the companies here.
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Golden Angels portfolio company acquired by Renaissance Learning
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Renaissance Learning recently acquired UClass in a deal that expands the Wisconsin education software company’s capabilities and means a windfall for UClass’s Milwaukee-area investors.
UClass, which was founded in 2012 and based in San Francisco, is used in more than 5,000 schools and has more
than 16 million pieces of learning content already preloaded into its
database, including lesson plans, instructional videos and games. Read more about the sale from Xconomy. |
HealthX founder outlines Wisconsin opportunities in digital health
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Mark Bakken, the managing partner and founder of HealthX Ventures, a new venture fund based in Madison, described the opportunity he sees in Wisconsin for creating healthIT software companies at a recent WIN meeting.
Bakken said much of the opportunity has been thanks to the success
of Epic Systems, the electronic medical records giant located near Madison, at the company's headquarters in Verona. Read more on the WIN luncheon here.
HealthX, which launched its new fund targeting digital healh startups in February, is located in downtown Madison with several other investment funds, including 4490 Ventures, Baird Capital and AmFam Ventures. The building was profiled in a recent Capital Times story.
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| Tech leaders say Madison shouldn't be Silicon Valley, but it can grow
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Madison technology leaders recently gave their thoughts during a roundtable discussion about the city's potential as a technology hub and some of the challenges holding it back.
The session was part of roundtable
discussion at Wisconsin State Journal offices, organized by the State
Journal and Wisconsin Technology Council president Tom Still. Read the full Wisconsin State Journal story and view an accompanying video here.
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Milwaukee venture firm looking to raise new fund
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Capital Midwest Fund is courting investors as it tries to raise between
$100 million and $150 million for its third fund, the Wisconsin venture
capital firm told Xconomy. Read the full Xconomy story here.
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Nine UW teams to receive grants from Ideadvance Seed Fund
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Nine University of Wisconsin System faculty and student teams are
receiving up to $325,000 in the latest round of Ideadvance Seed Fund
grants from the Wisconsin Economic Development Corporation (WEDC) and
the University of Wisconsin-Extension Center for Technology
Commercialization (CTC).
Read more about the firms and the program here.
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State budget calls for expanded tax credits for investing
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Early-stage
businesses would be able to offer their investors additional tax credits
under a provision in Gov. Scott Walker's proposed 2015-2017 state
budget. .
The plan would allow more tax credits for investments in eligible companies. Currently, up to $8 million
invested in a qualified business is available for state tax credits.
The budget would increase that amount to $12 million per qualified
company. The program changes were called for the Wisconsin Technology Council's 2015 White Papers report.
Wisconsin investors can receive tax credits for 25 percent of the funds they provide. Read more from the Wisconsin State Journal.
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Next Gener8tor Madison class announced
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Five startups were selected from more than 400 applications to
participate in gener8tor’s 2015 Spring Program, the organization
announced. Read the full story with more about the companies at Madison Startups here.
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Second annual Tech Summit to be held on March 23
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The second annual Wisconsin Tech Summit will be held at GE Healthcare Institute
in Waukesha on March 23, according to the Wisconsin Technology Council, which is organizing the event. Early stage companies will have the opportunity to set up "speed dating" meeting with paricipating major companies. Read more here.
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Deals, acquisitions and news
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WeMontage, a Neenah company whose website allows customers to make large, removable wallpaper panels from their own photos, recently raised $100,000. Milwaukee Journal Sentinel
Mpirik, a
Milwaukee health care technology company founded by an orthopedic
surgeon, has raised $1.75 million from investors.
Milwaukee Journal Sentinel
Okanjo Partners Inc., a Milwaukee adtech company, has raised $1.7 million in new funding from local angel investors. Milwaukee Journal Sentinel
Align, a Wausau-based patient discharge planning service provider, recently closed on a $2 million funding round. Milwaukee Journal Sentinel
Conjugon, a Madison company developing new products to eliminate bacterial infections recently raised $700,000. Milwaukee Journal Sentinel
Centrose, a Madison pharmaceutical company recently raised $1 million in convertible debt as part of a larger funding round. Wisconsin State Journal
Fitchburg startup TermSync, which offers account receivables software, has been acquired by France-based Esker for an undisclosed amount. Wisconsin State Journal
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| Wisconsin Angel Network membership opportunities |
The Wisconsin Angel Network (WAN) is the Tech Council's link to an investor community that supports Wisconsin entrepreneurs. A $750 annual WAN membership includes a dual membership to the Wisconsin Innovation Network (WIN), the Tech Council's membership subsidiary - a community-based economic development organization dedicated to fostering innovation and entrepreneurship.
A WAN membership entitles you to one free pass to both major conferences (Wisconsin Entrepreneurs' Conference and the Early Stage Symposium), as well as regular events around the state, such as the recent Investors' Edge programs at Lambeau Field in Green Bay or early stage investing workshops held in Madison, Appleton and Platteville. A membership also makes you part of an association of angel investors, venture capital groups and other private equity professionals from around Wisconsin and the Midwest.
Click here to fill out an online application to become a new member or renew your current membership!
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| Upcoming Events |
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Wisconsin Tech Summit
GE Healthcare Institute, Waukesha
March 23 (www.wistechsummit.com)
2015 Wisconsin Entrepreneurs' Conference
Alliant Energy Center, Madison
June 2-3, 2015
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