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.