Gov. Doyle: announces grant for incubator expansion


MADISON-Gov. Jim Doyle today announced that T.E.C. Center, Madison, has received a $32,000 grant from the Department of Commerce’s Community-based Economic Development (CBED) Program to enhance its services to entrepreneurs.  Department of Commerce (Commerce) Deputy Secretary David K. Storey made the award on behalf of the Governor at the T.E.C. Center.


 


“My Grow Wisconsin plan calls for improving our entrepreneurial climate by nurturing business start-ups,” Gov. Doyle said. “I am pleased that we can invest in the T.E.C. Center, which has successfully helped high-technology entrepreneurs start and grow their businesses.”


 


The T.E.C.Center provides flexible, high-quality incubator space for up to 20 new and emerging technology firms on the east side of Madison.  It will use its grant for specialized technology equipment to be shared by several tenants and to help fund ongoing operations.  The incubator has received three previous awards from Commerce totaling $70,000.


 


The CBED Program is designed to promote local business development in economically distressed areas.  The program awards grants to community-based organizations for development and business assistance projects and to municipalities for economic development training.  The program also helps community-based organizations plan, build, and create business and technology-based incubators, and can also capitalize an incubator tenant revolving-loan program.  For further information, contact Jim Frymark, Commerce, 608/266-2742.


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