Kind looks to connect area entrepreneurs with investors

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In what he hopes will be a way to grow business across the region, U.S. Rep. Ron Kind, D-Wis., is bringing some investors to the area to meet with local entrepreneurs.

"I've always felt Wisconsin businesses have a lot going for them, but the state has been lacking in venture capital," the 3rd Congressional District congressman said.

Kind said that the hardest part of getting a business off the ground is finding the money and that while there are many local groups like economic development corporations and chambers of commerce to help get a business started, there is also a lot of money available through venture capitalists.

Venture capitalists are investors who look to invest in start-up businesses.

Kind will be hosting two economic development roundtable discussions in the area, including venture capitalists from around the country.

He is inviting local entrepreneurs to attend to give them the opportunity to meet one-on-one with the investors.

"Entrepreneurs will be able to listen to them and find out what attracts them to a business, what criteria they use to make an investment decision and, most importantly, what it takes to open up their wallets," Kind said.

Kind says the discussions will also teach the entrepreneurs how to navigate the world of venture capitalism.

According to Kind the investors he is bringing are looking for start-ups in a number of different categories including high-tech, software engineering and nanotechnology.

Two roundtable discussions will be May 27.

The first event starts at 10 a.m. at the University Center, 410 S. Third St., on the campus of the University of Wisconsin-River Falls.

The second event begins at 1:30 p.m. at the Gateway Campus of the Chippewa Valley Technical College located at 2320 Alpine Rd. in Eau Claire. The meeting will take place in Room 130.

Kind says he felt it was important to bring investors in from out of state to help see what western Wisconsin can do to better position itself for investment.

"We should be doing a better job of attracting investors and businesses into the state," said Kind.

The congressman noted the technology corridor established along Interstate 94 between Eau Claire and the Twin Cities is great.

"Now we need to figure out a way to bring more capital and businesses into the zone," Kind said.

Earlier this year, Gov. Jim Doyle proposed raising the state's current cap of $1 million in tax-creditable angel venture investments per business to $4 million.

That proposal was passed in the Republican-controlled Assembly, but was killed in the Democrat-controlled Senate.

However, a spokesman for Doyle's office said that in the approved state budget separate angel venture capital tax credits were increased by $5 million per year for the 2007-09 biennial budget.

"We will be able to award $100 million in these credits by 2015 if the level of investment is there take advantage of these credits," said Lee Sensenbrenner.

Entrepreneurs from across the region who would like to participate or get more information should contact Mark Aumann in Kind's Eau Claire office, 715.831.9214 or via e-mail at mark.aumann@mail.house.gov.

Contact Brady Bautch at internet@rivertowns.net

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