A bill whose main provision would place US$25 million in state money to fund start up companies in Wisconsin has passed the first reading in its state legislature. This passed despite the recent audit finding issues regarding the agency that would oversee the funds should the measure pass. The proposed bill comes from State Rep Mike Kuglitsch (R-New Berlin) would make available both state and private funds into a venture capital fund to Wisconsin based start up companies. The agency to manage the funds is the Wisconsin Economic Development Corp who in turn would hire a fund manager to oversee the investments made.
To read the original article: Bill for Venture Capital Money Passed : Regions : IVCPOST
