A focus on financing at WI Tech Summit

The Wisconsin Technology Council and the Wisconsin Healthcare Business Forum produced the 2022 Wisconsin Tech Summit hosted at Lambeau Field in Green Bay, Wisconsin on Monday, March 14. The event provided an organized opportunity for young companies and corporate leaders to meet and explore relationships around technology needs and innovation.

Finance was the focus of the morning presentations at the event, with an emphasis on connecting startup businesses to funding.

Joey Frayne, Technology Investment Manager for Wisconsin Economic Development Corporation (WEDC), highlighted funding available through the WEDC in his presentation titled Fueling innovation in Wisconsin: Programs designed to help early-stage businesses succeed. Frayne discussed the Workforce Innovation Grant, as well as a number of other loan and grant options offered through the organization. Entrepreneurs looking for resources and connections in Wisconsin should visit the WEDC’s Start In Wisconsin website.

Presenters from WBD and Nicolet National Bank introduced Small Business Association 504 financing options in the session titled Unconventional financing: Thinking creatively can make a difference. Attendees learned more about tax incremental financing and regional loan funds, as well as other advantageous loan options for emerging businesses.

Wisconsin Technology Council President Tom Still and director Joe Kremer led a conversation on startup funding titled Angel and venture capital in Wisconsin on the rise: Is it right for you? Attendees of the event received a preview of not yet released Wisconsin Portfolio, which features investment data from the state. The presenters highlighted the growth in investments in Wisconsin businesses, stating “investments in young, Wisconsin-based companies by angel and venture capitalists totaled more than $850 million in 2021, exceeding by more than $300 million” the amount invested in 2020. Also noted in the presentation was the underrepresentation of female and BIPOC-led businesses in the list of funded businesses.

Still also provided an overview of the WTC’s Entrepreneur’s Toolkit, which offers helpful resources for emerging tech companies, including information on securing capital.