Wisconsin Launches Angel Network

Governor Jim Doyle announced the launch of the Wisconsin Angel Network (WAN) to spur the growth of early-stage investing in Wisconsin. WAN is an element of Governor Doyle’s "Grow Wisconsin" initiative to grow the state’s tech-based economy and create high-wage, knowledge-based jobs. This program will link entrepreneurs with "angel investors"-individuals or groups who have an interest in early-stage companies.

Approximately $18 billion was invested by angel investors in 2003, with almost all of it invested in early-stage companies Venture capital also accounted for about $18 billion in investments in 2003, however, only 2 percent of venture investments in 2003 were in early stage companies.

The Wisconsin Angel Network will:

* Provide resources for angel networks, including organizational and administrative services, research, facilitation, and educational and networking programs.

* Facilitate cooperation among angel networks and early stage venture capital firms.

* Provide guidelines for angels screening deals and for investors seeking to create diversified portfolios that minimize risk.

* Provide criteria for entrepreneurs through the Wisconsin Entrepreneurs Network (WEN) to ensure entrepreneurs understand what angel investors are looking for.

* Increase the number of angel networks and angel investors throughout the state, and connecting them to investment opportunities.

* Strengthen data on angel investing, to assess best practices and to encourage participation.

Initial support for the Wisconsin Angel Network will come from the State Departments of Commerce and Financial Institutions, the Wisconsin Technology Council, and the Excelerator Technology Grants program of the SBC Foundation.

Related Links:

* Governor Doyle’s Press Release http://www.wisgov.state.wi.us/journal_media_detail.asp?prid=887

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