WEDC: Announces investment tax credit eligibility for emerging businesses

Contact: Tom Thieding, 608-210-6767 [email protected]

Link to Release: http://inwisconsin.com/feb-26-early-stage

MADISON, WI. February 26, 2013 –The Wisconsin Economic Development Corporation today announced certification of four emerging Wisconsin companies for Early Stage Business Investment tax credits. WEDC certified Easenet, Wauwatosa; United Community, LLC, Sherwood; NexVex, Inc., Whitewater and SpanDeX, Inc., Franksville.

The Early Stage Business Investment program certifies companies as Qualified New Business Ventures, which makes investors in the company eligible for a 25 percent tax credit on the amount they invest in the business to assist the companies in raising early stage capital. Since the program’s inception in 2005, more than 215 companies have been certified through the program, leveraging $637 million in private investments.

About the Companies

Easenet stands for Engineering A Sustainable Earth through Neighborhood Energy Technology. It is a sustainable energy start-up company developing a unit, fueled by natural gas, that heats homes and water while generating electricity as a byproduct. This additional electricity generated is put back onto the grid to cut the homeowner’s electrical bill. The company’s next step is to proof prototypes and set up manufacturing.

United Community, LLC’s proprietary software aligns businesses that offer cash back to local fundraisers and card members. This system creates an incentive for businesses to support fundraisers for non-profits while benefitting from marketing of their business during a fundraising campaign. The company plans to patent the software.

NexVex is creating the NexVex Roof Exchange that will offer a marketplace for consumers and contractors to seamlessly connect during the bidding and sales process of a roof replacement. Through data collected from the consumer about the property and accurate aerial measurements, contractors will be able to bid a job within minutes on any web enabled device. The company is seeking capital to bring the new service to market.

SpanDeX has created an online academic collaboration platform intended to ease the process of collaboration for researchers and professors. The platform will ensure the collaborators have the right version of a document, have uniform writing environments and prevent recent revisions from being improperly altered.

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 http://www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.