Bipartisan support is raising hopes that the state Legislature will pass a venture capital bill, after previous proposals failed. The new bill, proposed by Sen. Alberta Darling (R-River Hills) and Rep. Mike Kuglitsch (R-New Berlin), is aimed at boosting start-up companies and would create a fund with $25 million in state money and $50 million from private sources. The money would target businesses in advanced manufacturing or medical devices, agriculture, engineering, and information technology.
Currently, state companies attract less than 1% of the nation’s venture capital, and Wisconsin ranks near the bottom in entrepreneurial activity nationwide. Passage of the bipartisan bill is not guaranteed, with some Democrats arguing the fund is not large enough and vowing to submit their own proposal.
