Contact: David Volz, 608-266-2125
MADISON—As Governor Scott Walker continues to highlight the need for venture capital legislation, Wisconsin Economic Development Corporation CEO Paul Jadin announced today that Tim Cooley has been named Director of Capital Development for the state’s lead economic development organization.
“Access to venture capital for an early-stage business is critical for Wisconsin companies to grow and create jobs in our state,” Governor Walker said. “The WEDC is well-positioned to lead a discussion with a broad spectrum of lawmakers, industry leaders and start-up companies who already agree that the need is urgent.”
“A key strategy in the WEDC mission of advancing Wisconsin’s economy is the support of a robust entrepreneurial climate,” Jadin said. “Tim Cooley will direct our efforts to increase the availability of venture capital to innovative, fledgling companies so they can flourish and create quality jobs for Wisconsin workers. I’m delighted to have Tim join WEDC as we prepare to lead the state forward on this initiative.”
“Wisconsin has tremendous potential to increase and commercialize innovation emanating from its universities and colleges, established large companies in a broad range of industries, and from its vibrant and growing entrepreneurial communities throughout our state,” Cooley said. “A critical limiting factor to realizing this potential is the lack of early through mid-stage capital. It’s only through creating an environment where innovation can be matched with management and funding that we will spur job growth and create opportunities that retain the state’s most valuable resource, its people.”
A graduate of UW-Madison, Cooley has served a variety of executive roles in formulating strategy and driving and managing growth plans for high-profile companies and organizations. After working over 20 years developing the regional competitiveness and entrepreneurial ecosystems of the Southern California region, he most recently served as Director of Economic Development for the City of Madison.
The WEDC is Wisconsin’s lead economic development agency. Created in statute as a public authority, the WEDC is responsible for economic development activities previously administered by the Department of Commerce, a state agency eliminated on July 1, 2011.
