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Groups express interest in WEDC's high-tech business program

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MADISON, WI (WTAQ) - Twelve groups have expressed an interest in a state-funded venture capital program that’s being considered to help new high-tech businesses get off the ground.

The Wisconsin Economic Development Corporation had asked so-called “angel investors” if they’d be interested in joining forces with the state.

Nine firms with Wisconsin ties said yes, including a capital run by former state Financial Institutions’ Secretary Lorrie Heinemann. Two companies were from New York, and one from Pennsylvania.

Tom Still of the Wisconsin Technology Council said some big names in the venture capital world were among those expressing an interest. And he said it’s an indication that the state should seriously consider creating some type of public-private venture capital arrangement.

Governor Scott Walker has said it’s one of his top priorities for the next two years. The Republican Walker says the program needs a, “bare minimum” of $25 to $30 million in tax dollars in order to be viable. 

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