Gov. Scott Walker signed a bill Thursday that supported business financing as well as the creation of jobs in Wisconsin. The bill won support from the bipartisan legislation and was backed by the business community of the state.
There was US$25 million available for startup companies in the state. Private donations will also add to the fund.
The venture capital bill will help the private sector jobs to grow in the state, said Walker. Only businesses in five targeted industries based in Wisconsin will be able to receive the state funding. These industries included information technology, medical devices and imaging, engineered products advanced manufacturing, and biotechnology and life sciences. The latter received objections, but the bill was passed anyway.
"Wisconsin's entrepreneurs never seem to be short of ideas," said Sen. Alberta Darling in a statement. "However, sometimes they are short of the capital to turn those great ideas into great jobs," she added. Sen. Darling co-sponsored the bill.
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