Resource Details
Business, Start-Up & Entrepreneur, Technology
Wisconsin Investment Pilot
THIS PROGRAM IS NOT BEING FUNDED IN FY2023
There are young companies developing exciting new technologies and creating economic opportunities. The Wisconsin Economic Development Corporation’s (WEDC’s) Wisconsin Investment Pilot (WIP) Program supports technology-based startups and emerging growth companies in Wisconsin by providing equity-based financing to serve as bridge capital, with a particular emphasis on overcoming financing challenges related to the COVID-19 pandemic.
The funding will be provided in the form of an investment utilizing a simple agreement for future equity, or SAFE. Investments by WEDC must be matched on a 4:1 basis considering all investment sources. WEDC funds are intended to follow the same purpose as matching investor funds, primarily to fund continued innovation and business growth.
Eligibility
Businesses certified by WEDC as QNBVs at of the time of application for WIP are eligible for the WIP program. Businesses delinquent in reporting or other obligations with WEDC are not eligible for this program.
The WIP Program is not intended to support initial investments, and eligible businesses must provide evidence of prior outside funding rounds of at least twice the amount requested in WIP funds. Eligible businesses must demonstrate matching funds at a rate of 4:1, with a QVF providing at least a 1:1 match of the WIP funding being requested.
Top Benefits
- Eligible businesses will be provided an investment of up to $100,000
Wisconsin Economic Development Corporation
Wisconsin Economic Development Corporation (WEDC) works with Wisconsin’s businesses and communities to build an economy that works for everyone.
Contact
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