The goal of the Wisconsin Investment Pilot (WIP) Program is to support technology-based startup and emerging growth companies in the state of Wisconsin. This program was initiated by the Entrepreneurship and Innovation Committee to support early-stage companies trying to raise additional or bridge capital to maintain and expand operations during the economic crisis caused by COVID-19 and serve as a demonstration of how WEDC can implement a co-investment fund strategy long-term to assist investor-backed Wisconsin companies.
The goal of this pilot program is to invest in Wisconsin early-stage companies alongside professional investors.
This program primarily supports the following WEDC Strategic Pillar and Focus Area:
Business Development: Entrepreneurship and Innovation
The program provides up to $50,000 in direct financial assistance to businesses certified by WEDC as Qualified New Business Ventures (QNBV) in the form of an investment utilizing a Simple Agreement for Future Equity. The WIP Program is intended to provide capital to those companies that have the potential to add to Wisconsin’s economic base over the long term by attracting and retaining a high-wage, high-skill workforce and establishing a unique competitive advantage. The expectation is that this investment by WEDC will be matched by a WEDC-certified Qualified Venture Fund (QVF). The funds can be used as working capital and require leverage from outside funding for the business development project or funding round under consideration.