The Wisconsin Economic Development Corporation (WEDC) established the Qualified New Business Venture (QNBV) Program in 2005 to drive investment into early-stage companies that show the potential to create next-generation economic opportunity in Wisconsin.
The QNBV Program offers incentives for investment in these Wisconsin businesses creating mutually beneficial outcomes for investors, businesses and Wisconsin’s economy. Angel investors, angel investment networks or Qualified Venture Funds (QVF) that invest in a QNBV company are eligible to receive a tax credit equal to 25 percent of the amount of the equity investment.
To apply for QNBV certification, companies must meet the following criteria, among others:
• Headquartered in Wisconsin
• At least 51 percent of employees based in the state
• Have fewer than 100 employees
• In operation for 10 consecutive years or less
• Offer significant potential for increasing jobs or increasing capital investment in Wisconsin
• Have not received aggregate private equity or venture capital investment of more than $10 million
Companies primarily engaged in real estate development, insurance, banking, lending, lobbying, political consulting, professional services, wholesale or retail trade, leisure, hospitality, transportation or construction are not eligible to participate in this program.
To see a list of the businesses with QNBV certification, click here.
MKEStartup.News will take a closer look at a few of these businesses located in the metro Milwaukee area in the coming weeks. To find these stories, use the tag QNBV.
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