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A bill that would create a state-leveraged “fund of funds” to invest in some of Wisconsin’s most promising early stage companies continues to make its way through the Wisconsin Legislature. Introduced by a bipartisan group of lawmakers, the bill has been approved by the Assembly Committee on Jobs, Economy and Mining and may be scheduled for floor debate in June. Stay tuned for more information on how you can become involved, including a June 11 Capitol Rally. You may contact your individual state Assembly or Senate member through this link.

Modeled after similar funds in other states, the fund will spur company creation and job growth while building safeguards to protect the interests of taxpayers. More coverage of the bill is available here.

The Assembly Committee on Jobs, Economy and Mining held a public hearing May 1 in Madison on Assembly Bill 181, which would create a state-leveraged fund-of-funds. Click here for testimony on the bill from Wisconsin Technology Council President Tom Still, Steve Lyons and Trevor D’Souza of the Wisconsin Growth Capital Coalition, and Delora Newton of the Greater Madison Chamber of Commerce. Also, read blog items from Wisconsin Angel Network Director Dan Blake, including comments from entrepreneurs who join Still during his testimony. Tom Still's commentary in the Milwaukee Journal Sentinel is available here.

Top scoring entries from the BizStarts Collegiate Business Plan Competition and UW-Madison’s  G. Steven Burrill Business Plan Competition joined the Top 21 finalists in Phase 3 of the Governor’s Business Plan this week. Contestants, who submitted 15 to 20-page business plans to be reviewed by a group of more than 70 judges, are competing for a slot in final round of the six-month long contest, the “Diligent Dozen.” These top 12 plans that advance will present at the Wisconsin Entrepreneurs’ Conference in Middleton on June 4 in front of a panel of judges and conference attendees. The Grand Prize winner, along with the category winners, will be announced at the BPC Awards Luncheon on June 5. For more information on the contest, visit www.GovsBizPlanContest.com.  

State Journal: Executive Q&A - Dan Blake, Wisconsin Angel Network
Dan Blake, 31, took over in March as director of the Wisconsin Angel Network, part of the Wisconsin Technology Council. Read his interview with the Wisconsin State Journal's Judy Newman here.

JSOnline: Snowshoe Food selected for TechStar startup accelerator
A Madison company with a unique, inexpensive technology for authenticating mobile transactions, has been accepted into the highly selective TechStars Boulder start-up accelerator program. Claus Moberg, chief executive officer of Snowshoe Food Inc., and the company's four other employees will spend the summer in Boulder, Co. working with mentors and further developing their company.

JSOnine: Revolution Labs receives $100K in state grants to boost inner city businesses
Two state agencies will provide a total of $100,000 to Revolution Labs, a Milwaukee program aimed at providing best practices training and funding for five inner-city start-ups, Gov. Scott Walker said Monday.

JSOnline: ZBB Energy continues international focus with S. Korea order
ZBB Energy Corp.. said it has received more orders from Lotte Chemical Co. of South Korea for its batteries and energy storage system technology. The Menomonee Falls firm has been working with Lotte for several years under a partnership, working together on the next generation of the company’s zinc bromide flow battery.

JSOnline: Biopharmaceutical company to be acquired by Takeda
Inviragen Inc., a privately held biopharmaceutical company with facilities in Madison, has agreed to be bought by Takeda Pharmaceutical Co. Ltd. for an upfront payment of $35 million, and future payments of up to $215 million tied to meeting future clinical milestones.

State Journal: Tech businesses are up in the Madison area
More than 600 businesses in the Madison area are considered high-tech, according to a survey by Madison Gas & Electric. The 2013 Greater Madison Area High-Tech Directory is out, and based on statistics compiled by MGE, there are 625 companies that fall into categories that include computer software development, bioscience and medical devices. That's up from 580 listed a year ago.

BizTimes: SHINE Medical Technology reaches key milestone
A company that plans to build a production plant in Janesville says it has reached a milestone that further demonstrates its ability to produce a medical isotope used in more than 40 million medical imaging tests each year.

State Journal: ETC buys former Sunny Industries building
Middleton-based ETC, Electronic Theatre Controls, is expanding to Mazomanie. ETC, which designs and manufactures lighting systems and rigging equipment for entertainment and architectural uses, has purchased the vacant building that formerly housed commercial printer Sunny Industries, later known as Synergy Web Graphics.

JSOnline: 3-D printing company Digifii wins BizStarts college contest As the first place winner of the 2013 BizStarts Milwaukee Collegiate Business Plan Competition, Digifii will be entered into Phase 3 of the Governor's Business Plan Contest.

JSOnline: Moving Milwaukee forward
Ideas, risk-taking and industrial muscle built Milwaukee. To move forward, the region needs brain power and an economy fueled by entrepreneurs and start-ups.

WisBusiness.com: Ward reflects on higher ed's changing landscape 
 “Higher education -- whether we like it or not -- is in big, irreversible change,” said Ward, speaking to a Wisconsin Innovation Network event on Tuesday in Madison.

State Journal: Biz Expo highlights ways startups are using digital technology
Innovation Way was home, for a few hours, to a group of startup companies that are plowing into the world of digital technology and social media. The startups, which set up shop at the 19th annual Biz Expo sponsored by the Greater Madison Chamber of Commerce, are trying to help traditional businesses in an increasingly digital environment dominated by smartphones and apps.

JSOnline: Wisconsin companies raise millions in venture capital Wisconsin companies raised $18.42 million of venture capital in the first quarter, the best showing to start the year since 2010.

JSOnline: Loan guarantee will support ZBB Energy exports
ZBB Energy Corp. said it has won approval from the Export-Import Bank for loan guarantees to back $1.14 million in loans from InvestorsBank to the maker of energy storage systems and hybrid vehicle controls. The transaction will provide working capital to help support sales of ZBB products that are exported from its factory in Menomonee Falls.

BizTimes: Badger Meter acquires California technology company Milwaukee-based Badger Meter Inc. has acquired Los Gatos, Calif.-based software technology company Aquacue Inc. for $14 million. The addition will help advance Badger Meter’s water usage management technology.

JSOnline: Why 'treps are key to jump-starting Milwaukee's economic rebirth
There are many paths to economic growth, all with their advocates. Many scholars and businesspeople believe the spark for growth comes from the entrepreneur. 
"Entrepreneurship is where the new ideas come from that produce economic progress," Randall Holcombe of Florida State said. "If you didn't have any entrepreneurs, everything would be the same next week as it is this week, same next year as it was last year. Economic progress would come to a halt."

State Journal: Thermo Fisher to buy Life Technologies for $13.6M
Thermo Fisher Scientific Inc. plans to pay about $13.6 billion for Life Technologies Corp. in a deal that will position the scientific instrument maker to benefit from the expected growth of personalized medicine, which uses genetic analysis to tailor treatments to patients.

Business Journal: Milwaukee named a hub of high-tech innovation
Milwaukee residents know the city is more than just beer and manufacturing, and this week it got some recognition for its growing tech scene. Techie.com put Milwaukee on its list of 10 most unexpected cities for high-technology innovation.

La Crosse Tribune: Research extends beyond classrooms
The National Conference on Undergraduate Research will be held this week on the University of Wisconsin-La Crosse campus. This is the second time that UW-L will host NCUR, a national event that brings together students and faculty mentors from across the country to share their research. This is a unique opportunity to shed light on the outstanding research taking place on campuses across our state and how that activity enhances the learning experience.

JSOnline: Golden Angels Investors to invest in TechStars Chicago fund The Golden Angels Investors LLC will put money into a new fund being raised by TechStars Chicago, an organization that accelerates young companies from offices in the Merchandise Mart in downtown Chicago. The network's investment will be less than $100,000 but it will give the Golden Angels early access for the next four years to the 10 companies TechStars Chicago runs through its three-month-long program each summer, said Tim Keane, the Milwaukee group's founder and director.

Wisconsin Innovation Network (WIN) is The Tech Council's membership subsidiary - a community-based economic development organization dedicated to fostering innovation and entrepreneurship. In association with the Tech Council, WIN programs focus on the needs and challenges faced by new and growing technology-based businesses in Wisconsin.

When you become a WIN member, your membership applies to all chapters, statewide.  Membership is for one year starting with the month you join. Go here to learn more about the benefits of a WIN membership.

Thank you to the following individuals and organizations that have recently joined or renewed their WIN memberships:

Corporate Members:
AlphaTech Counsel
Aurora Health Care
J.H. Findorff & Son
UW-Madison Dept. of Radiology
Venture Management LLC

Individual Members:
Mike Farrell
Alan Hartman
Donald Higgins
John Hranka
Bruce Janda
Patrick Keller
Dr. A.A. Koeller
Michael Kvalo
Thomas Lieven
George Mosher
Kevin Murray
Ann Piper Eisenbrown
Robert Puissant
Scottie Sandstrom
Ryan Shepherd
Adel Talaat
James Tretheway
Marilyn Vetter