February 18, 2013
For Immediate Release
Investing in Wisconsin: Governor Walker Announces Investment Capital Budget Initiative
Madison—Today, Governor Walker announced his budget will allocate $25 million for investment capital initiatives.
"Our main focus is on growing our economy through investing in our priorities," said Governor Walker. "Studies show the majority of net new jobs come from businesses less than five years old, and the most limiting factor in developing these opportunities is the availability of new capital. We need to show we're serious about growing the economy in Wisconsin by ensuring startups have access to capital."
Wisconsin has a good supply of new invention and potential commercial innovations. Wisconsin holds 2.11 percent of the nation's patent filings, 12th in the nation, and has 2.15 percent of the nation's academic research spending, 13th in the nation. However, Wisconsin only has 0.36 percent of the nation's venture capital investments.
Continued inaction increasingly puts Wisconsin at a competitive disadvantage. There is a critical need for investment capital throughout the state. Start-ups are being created all over the state and Wisconsin needs to be able to invest in these ventures to make sure small businesses in the state can thrive.