Early-stage Wisconsin companies that received support from WEDC programs in 2020 succeeded in bringing in nearly $900 million in additional investments and revenue, according to a WEDC report.
The report on Entrepreneurship and Innovation in Wisconsin says 446 young businesses drew nearly $565 million in investments, grants and loans in 2020, and they generated more than $319 million in revenue, for a total of $884 million in new capital. The companies benefited from WEDC’s Qualified New Business Venture, Technology Development Loan, Seed Accelerator or Capital Catalyst programs.
The companies supported 2,232 full-time and 1,952 part-time jobs in Wisconsin, which paid a total of $163 million in annual wages.
In addition, WEDC’s partners assisted 1,474 companies in 2020 through programs such as Entrepreneurship Support Grants, Entrepreneurial Micro-grants and the Small Business Innovation Research (SBIR) Advance Program, and those companies created more than 400 new jobs and retained more than 740 jobs.
Read the 2020 Entrepreneurship and Innovation in Wisconsin report.