Tony Hozeny, Department of Commerce, 608/267-9661
MADISON – Governor Jim Doyle today announced that the Department of Commerce (Commerce) has qualified five small businesses for investor tax credits under the new Angel Investor and Venture Fund Tax Credit Programs.
“I championed legislation to spur more venture capital investment, as it is essential to the state’s economic growth,” Governor Doyle said. “By encouraging investors through tax credits to make these crucial investments, we are helping to turn these great ideas into viable, job-creating businesses. Today, new technology firms are starting and expanding all across Wisconsin.”
“We appreciate the creation and availability of the qualified new business venture program. This program provides an attractive and tangible incentive for investors to look at early stage companies that are seeking additional capital”, said Frank Langley, President & CEO of POINTONE Systems.
The Angel Investor and Venture Fund Tax Credit Programs offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. These programs are designed to increase the supply of both qualified angel investors and investors in qualified venture capital funds. The tax credits are available only for investments made in technology businesses qualified by Commerce. As Commerce qualifies businesses for investment, it will list them on the Commerce website at www.commerce.wi.gov/act255.
POINTONE Systems, LLC, Wauwatosa, Milwaukee County. This company was established in 2001 to provide physicians with the tools and information to consistently apply best practice guidelines. For more information about the company, visit www.pointonesystems.com.
Keelate Laboratories LLC, Porterfield, Marinette County, was established in 2005 to develop new methods to administer topical pharmaceuticals.
US Trail Maps, Wausau, Marathon County. This company was established in 2005 to provide interactive mapping products for off-road trails in this nation. For more information about the company, visit www.ustrailmaps.com
Renovar, Inc., Madison, Dane County. This company was established in 1999 to diagnose, monitor and treat kidney transplants. For more information about the company, visit www.renovarinc.com.
Semba, Inc., Stoughton, Dane County. This company was founded in 2005 to produce a liquid separation device for drug discovery and development.
For further information on the Angel Investor and Venture Fund Tax Credit Programs, contact John Stricker, Department of Commerce, at 608-261-7710.