Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
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There's a new pot of gold in Wisconsin: New Capital Fund. This venture capital in Wisconsin is a welcome addition with 75 investors. It will target 12 early stage businesses over the next five years, providing up to $1 million to each of them.
Most of the investors in New Capital Fund live and work in northern Wisconsin. They have assigned management duties of the venture capital fund to New Capital Management Inc.
New Capital Fund is one of the first organizations in Wisconsin to be certified as a Qualified Venture Fund under Wisconsin's Act 255. The certification allows investors to receive state income tax credits for equity investments in qualified new business ventures.
New Capital Fund, venture capital in Wisconsin, is part of an area wide focus on business development in that area called "New North".
New North Inc. is a coalition of business, government, education and community leaders from 18 counties: Outagamie, Winnebago, Calumet, Waupaca, Brown, Shawano, Oconto, Marinette, Door, Kewaunee, Sheboygan, Manitowoc, Fond du Lac, Green Lake, Marquette, Florence, Menominee, and Waushara.
"Building on the resources and success we have in the New North is an important component to our success as a region," Bob DeKoch, co-chair of New North Inc., said in a statement. "This fund will help provide the muscle to move business plans forward, with the ultimate goal of growing economic development for our region."
Venture capital has not been particularly attracted to Wisconsin in the past. The area never seemed to garner the scientific or economic clout that normally captures the eyes of the big pocketbook people.
Perhaps New Capital Fund and the New North is just what the economist ordered to put this area back on track.
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