Contact: Tom Thieding, 608-210-6767 tom.thieding@wedc.org
MADISON, November 21, 2012 – The Wisconsin Economic Development Corporation (WEDC) today announced approval of financial support for several emerging Wisconsin companies.
“Wisconsin is known for its innovation, so it’s important we provide the business climate for entrepreneurs to launch their ideas,” said Lisa Johnson, Vice President of Entrepreneurship and Innovation with WEDC. “On the heels of Global Entrepreneur Week, we want companies to know that the state is here, ready to help them start up and grow in Wisconsin.”
WEDC approved Technology Development Loans for: Aurora Spectral Technologies, LLC, Milwaukee ($160,000); SoLoMo Identity, Madison ($250,000); Super Vitamin D, Eau Claire ($250,000); Stablebody Technologies, Madison ($75,000); Modern Movement, Waunakee ($70,000); Murfie Inc., Madison ($500,000); Stealth Theraputics, Madison ($250,000) and PerBlue, Inc., Waunakee ($200,000). The Technology Development Loan is for Wisconsin companies to facilitate research and development and commercialization of innovative technology products.
WEDC approved Qualified New Business Venture tax credits for: Perfect Cross, Nashotah; Dynamis, LLC, Madison; Strategic Fishing Systems, LLC, Madison; Moxe Health, Madison; PeptiMed, Fitchburg; Pure Oxygen Labs, Middleton; Greenwhey Energy, Turtle Lake; Seven Marine, Germantown; and Nature Tech, Milwaukee. The Qualified New Business Venture status makes investors in the company eligible for a 25 percent tax credit on the amount they invest in the business.
WEDC approved Qualified New Business Venture tax credits and a Wisconsin Technology Development Loan for $500,000 for Magma Flooring, River Falls.
About the Companies
Aurora Spectral Technologies has completed development of the Optical Microspectroscopy, an imaging tool used by biological science and pharmaceutical researchers. The loan will assist the company with marketing, hiring and sales activities. http://auroraspectral.com/
Dynamis has developed “BrandBumps,” manufactured ADA?compliant detectable warning panels. These are powder-coated steel and cast iron detectable warning panels that are used on steps and sidewalks that can be customized with company advertising. http://brandbumps.com/
Greenwhey Energy has developed and is implementing a large scale process to manage wastewater from Wisconsin’s cheese production and food processing industries. http://greenwheyenergy.com
Magma Flooring will undergo product development for the advancement of their PVC-free flooring substrates and successfully transition to commercialization.
Modern Movement is developing innovative, patented fitness products which are intended to address the emerging marketing of balance training. The devices provide the user with the ability to improve balance, strengthen leg and core muscles, along with obtaining a cardio workout. http://modmov.com
Moxe Health is a healthcare IT company developing a novel software platform that will allow healthcare providers and insurers to better communicate with patients. The initial thrust is to drive non-emergency visits away from emergency departments and to clinics where costs are much lower. http://www.moxehealth.com
Murfie is web-based digital media sharing network, allowing individuals to store and stream their personal collection of music. https://www.murfie.com
Nature Tech will manufacture high-tech building products from recycled materials. Its first product is cellulose insulation manufactured from recycled newsprint. The company has also developed a cellulose batt product.
PeptiMed has developed a therapeutic drug for the treatment of advanced breast, prostate, lung, colon, ovarian and skin cancers.
PerBlue is a mobile and social gaming software company, and is the creator of Parallel Kingdom, the first location-based role playing game for mobile (iOS and Android) and the Web. They are expanding their game portfolio by adding a new title within the Parallel brand. http://www.perblue.com
Perfect Cross has pioneered development and testing of several new categories of muscle support and pain relief products called Kinetic Performance System (KPS). Their RAPDIFORCE KPS systems are a muscle and pain relief product designed to allow unobstructed movement and support musculoskeletal soreness and discomfort. http://www.rapidforce-kps.com
Pure Oxygen Labs is completing the development of their mobile target marketing and attribution platform known as TwURL. The platform is a proprietary cloud-based URL management technology currently in private beta and is expected to maximize mobile search visibility, social engagement, app conversation and QR marketing results. http://www.pureoxygenmobile.com
Seven Marine will commercialize their new patented high performance outboard motor. http://www.seven-marine.com
SoLoMo has developed identity management technologies for mobile applications and social communities. The technology allows a user to create a digital social and business card with their profile, and integrate it with social sites, web pages, blogs and other online tools. http://www.slmtechnology.com/
StableBody Technologies’ main area of expertise is in improving the function of antibody and antibody fragments used in diagnostic, therapeutic, environmental, industrial and research applications. http://www.stablebodytech.com
Stealth Theraputics has developed, designed, and received FDA approval for Invisiport. Invisiport is a micro-invasive implantable arm port. http://www.stealththerapeutics.com
Strategic Fishing Systems provides the recreational fishing market with a “where do I fish” guide of lakes in the Midwest. The company is looking to expand its platform into mobile devices and onboard electronics. http://www.plantocatch.com
Super Vitamin D has developed a supplement that delivers vitamin D3 through the skin and into the blood stream in therapeutic quantities for three patient populations. These patient populations include Cystic Fybrosis patients, Bariatric Surgery patients and Geriatric patients who do not absorb oral vitamin supplements well.
About Wisconsin Economic Development Corporation
Wisconsin Economic Development Corporation (WEDC), formed in 2011 as a public-private entity, leads economic development efforts for the state and nurtures business growth and job creation by advancing Wisconsin’s business climate. In addition to Wisconsin’s strong legacy industries of agriculture and manufacturing, recent growth has occurred in water technology, renewable energy, bio-sciences, health care, and food processing. In 2012 Wisconsin was ranked No. 20 in Chief Executive Magazine’s “Best States for Business” and No. 17 as a top state for business by CNBC. WEDC partners with 650 economic development organizations throughout Wisconsin to serve businesses looking to start, grow or relocate. WEDC has four focus areas: business and industry development, economic and community development, entrepreneurship and innovation, and international business development. Visit inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.
