QNBV companies raise millions in private funding

According to the Wisconsin Economic Development Corp., 63 early-stage Wisconsin companies in the state’s Qualified New Business Venture program raised $48.4 million in private funding in 2012. The QNBV program offers investors in qualified businesses a 25% income tax credit. In 2012, investors received $12.1 million in tax credits. The qualified companies, meanwhile, attracted $116.3 million in private funds that bypassed the tax credit and $37.1 million in grants. Thus far, 160 companies have been certified for the program.