| In This Issue |
‘Investors’ Edge’ on Sept. 10
State crowdfunding bill floated
WAN protests new SEC rules
Resource Rendezvous Sept.19
Madison leaders visit Windy City
4 companies attain QNBV status
Deals, acquisitions and news
Upcoming events
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| Did You Know? |
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Of the top 25 cities for ratio of tech startups compared to the national average, five are in Colorado, with four of the Centennial State cities in the top 10. The surprising ranking comes from a Kauffman Foundation report looking at data from 1990 to 2010.
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| Jargon |
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Blind pool – A pool of funds placed at the discretion of a manager with no stated investment goal. Also may be called a “blank check offering."
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| Become a WAN Member |
Your $750 WAN membership also includes a membership to the Wisconsin Innovation Network (WIN). This "dual" membership is a $500 value included at no additional cost to you.
Your WIN membership entitles you to one free pass to both major conferences (Wisconsin Entrepreneurs' Conference and Early Stage Symposium), as well as regular WIN events in Madison, Milwaukee, Appleton, Central Wisconsin, Western Wisconsin and the Lake Superior regions.
For more information on WAN memberships, call 608-442-7557 or click here to join.
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| WAN Leadership |
Advisory Committee
Tim Keane (Chair)
Golden Angels Network
Lisa Johnson
Wis. Economic Development Corp.
Dick Leinenkugel
Northwoods Angels
Thomas Shannon
Shamrock Partners
Tom Still
Wisconsin Technology Council
Brad Taylor
Wisconsin Investment Partners
David Ward
Angels on the Water
Emeritus: Lorrie Keating Heinemann, co-founder
Staff
Dan Blake
Director
608-442-7557
dblake@wisconsinangelnetwork.com
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| 'WisBusiness: The Show' |
In the 100th episode of "WisBusiness.com: The Show," Liz Schrum catches up with Mark Bugher, the show's very first guest, to discuss his tenure as director of University Research Park and his upcoming retirement. Also on the show, Tom Still explains why new SEC regulations could adversely affect angel investments in Wisconsin and across the country; and the WisBusiness.com Stock Report for late August covers home sales and Anchor Bank.
Previous shows:
Pepi Randolph, Potawatomi Business Development Corp.
Eric Paulsen, BizStarts Milwaukee
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| Wisconsin Technology Council |
The Wisconsin Angel Network is a program of the Wisconsin Technology Council.
Join the Tech Council's mailing list to stay up-to-date on news, events, programs and more!
Other quick links:
Wisconsin Innovation Network
Tech Council Newsroom
Inside Wisconsin by Tom Still
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| Minnesota Angel Network |
Click here for more information on the Minnesota Angel Network.
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| Newsletter Sponsors |
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| August 2013 |
| 'Investors' Edge' Sept. 10 to feature workshop on trends, deals and data |
The Wisconsin Angel Network and its members are bringing together investors from across Wisconsin and the Midwest for 'Investors' Edge,' an investor-focused conference on Sept. 10.
The event, being held at American Family Insurance headquarters on Madison's East Side, will feature a workshop by Bob Okabe, board director of the Angel Resource Institute, outlining the latest data and trends for early stage investing. Okabe was the founder of a Chicago angel group and an affiliated fund, and has taught across the U.S.
There will also be a presentation from Chris Prestigiacomo on the State of Wisconsin Investment Board's latest efforts in the space, including SWIB's "Catalyst" fund and the early stage capital program recently passed into law. WEDC's Chris Schiffner will also be presenting on the QNBV/Act 255 investor tax credit program program and taking questions from attendees.
Investors can see more detail and register for the meeting here. Lunch and an evening reception will be provided. Please reach out to Dan Blake, the director of the Wisconsin Angel Network, with questions. Thanks to the below sponsors for their support!
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| Wisconsin legislators introduce state crowdfunding bill |
Three Republican state legislators recently released a bill that will rewrite state securities law to allow for equity crowdfunding in Wisconsin. Wisconsin would be among the first states to allow for an exemption for companies selling equity online to state investors. NPR recently featured efforts in other states.
As Tech Council President Tom Still noted, the bill has the potential advantage of opening up capital for entrepreneurs in the early days of their business. But a state law could also cause confusion when paired with the long-delayed crowdfunding rules still coming as part of the JOBS Act. It could also cause issues for startups that attempt to raise a more traditional round later on from sources like angel or venture capital investors. Read more on the details of the bill in Still's column.
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| WAN protests to SEC new general solicitation, Form D rules |
The Wisconsin Angel Network submitted a letter of protest to the SEC regarding the agency's new rules surrounding general solicitation which go into effect on Sept. 23. A number of the state's prominent investment groups signed on in support.
The general solicitation rules, announced in July, outlined several "safe harbors" issuers (or companies) can look to when they try to verify the audience to which they are advertising are accredited investors. Those could include steps like angel investors providing personal financial information, which many investors believe would have a severely detrimental effect on angel investing.
In addition, scores of investors, entrepreneurs and others involved in the entrepreneurial ecosystem have commented on rules the SEC proposed regarding new filing requirements for Form D under the JOBS Act. The comment period is open until Sept. 23 at the following link (http://1.usa.gov/13W5x9d).
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| 'Resource Rendezvous' to be held in Milwaukee on Sept 19 |
Industry experts will offer insights on the future of military contracting opportunities at the seventh annual “Resource Rendezvous” next month in Milwaukee. The one-day conference, held at the Union Ballroom on the UW-Milwaukee campus, is aimed at helping companies learn how to increase their chance of receiving federal grant dollars or research agreements.
You can register for Resource Rendezvous at this link. Companies interested in presenting at the conference have until Friday to apply at this link.
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| Wisconsin leaders head south for Chicago startup trip |
The Wisconsin Angel Network was one of the organizations invited on a trip to Chicago to tour 1871, a startup co-working space, and to meet with Windy City entrepreneurial leaders, including venture capitalist J.B. Pritzker.
In addition to a tour of 1871, the group also met with several companies working out of Catapult Chicago, a startup community located nearby in the River North neighborhood. Chicago has grown its entrepreneurial ecosystem quickly over the past several years. Built in Chicago reported nearly 200 startups launched in the city in 2012, with more than $390 million raised.
The trip, organized by the Greater Madison Chamber of Commerce, included presentations from members of Madison's entrepreneurial scene on existing co-working spaces like Madworks Coworking, 100State and Horizon Coworking.
A few interesting facts on 1871:
--More than 200 startups work out of the 50,000-foot space in the Merchandise Mart
--63% of founders are between the ages of 30 and 49
--50% hold masters or doctoral degrees
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| WEDC grants QNBV status to 4 state companies |
The Wisconsin Economic Development Corp. granted QNBV status to four emerging companies in August. The companies were:
-- Ebullient Technologies, a Madison based company that develops data center cooling technologies.
-- Healthfinch, a Madison company, that develops software tools that help with automating physician workflows.
-- Zero Locus, a Milwaukee software and data analytics company.
-- WeMontage, a Neenah company that allows users to create wallpaper montages of their photographs
The certification makes investors in the companies eligible for a 25% tax credit.
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| Deals, acquisitions, exits and news |
Healthfinch, Madison, was the winner of the Open App Challenge at the Allscripts Client Experience conference. Read the full release here.
Adobo.com, a Madison startup that offers online apartment listings raised $325,000 from angel investors, including. The company was also invested in as part of the Gener8tor accelerator program. Read more here.
Alice.com, a Madison e-commerce retailer, has filed for receivership. Read more here.
MCT Inc., a Milwaukee startup with digital print cutting technology, raised $500,000 from a Wisconsin angel fund. Read more here.
Stratatech, a Madison company working for more than a decade on skin tissue products to treat severe burns, has signed a contract with a federal agency that could bring in more than $47.2 million. Read more here.
QuietTyme, Milwaukee, a company that provides monitoring services that measures the quality of indoor environments, has raised a total of $320,000. Investors include Angels on the Water, KSFI Partners, American Family Insurance and a private investor. The company was also invested in as part of the Gener8tor accelerator program.
WeMontage, a Neenah based company that offers a website to capital photos on removable wallpaper, raised $310,000 from a Wisconsin investment fund, private investors and Angels on the Water. The company was also invested in as part of the Gener8tor accelerator program. Read more.
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| Upcoming Events |
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Investors’ Edge: American Family Insurance headquarters, Madison, Sept. 10
WIN-Milwaukee: Innovative e-commerce startups, Sept. 12
Resource Rendezvous: UW-Milwaukee, Wisconsin Security Research Consortium, Sept. 19
WIN-Madison: From Capitol Hill to Bascom Hill: UW-Madison Chancellor Becky Blank, Sept. 24
WIN-Madison: Learn how UW-Madison research is improving women’s health, Oct. 22
Early Stage Symposium: Madison, Nov. 5-6
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