SSTI Digest

Last Friday, Governor Tommy Thompson signed into law Senate Bill 429, establishing the Wisconsin Technology and Entrepreneurs Council (WITEC). The nonprofit corporation is to promote and support the creation, development, and retention of science-based and technology-based businesses “through the establishment and implementation of programs that focus on various elements that are important for the success of high-technology firms, such as entrepreneurs, seed and venture capital, universities and state government."

In his recent State of the State address, Wisconsin Governor Tommy Thompson called for the establishment of a new High Tech Corporation to assist in the development of companies for the New Economy. Toward that end, a bill has been introduced in both houses of the Wisconsin Legislature to establish the corporation.

Three separate public initiatives are underway in Wisconsin which could result in the availability of more than $100 million for new venture capital financing. The efforts are designed to spur venture capital investment in the state (ranked 45th in the 1998 Pricewaterhouse Coopers survey) and to increase entrepreneurial activity in the Wisconsin biotechnology community.