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Business owners press for bill on venture capital

MADISON, Wis. (AP) – Business owners and leaders are speaking out for a proposal to pour more money into Wisconsin’s startup businesses.

The legislation from Republican Rep. Mike Kuglitsch of New Berlin would put $25 million into a fund that invests in agriculture, technology, energy and other industries. The fund also would get at least $50 million from private sources.

Business owners told the Assembly jobs committee on Wednesday that many companies have left Wisconsin because the state doesn’t have enough capital to help them grow at an early stage.

Steve Lyons from the Wisconsin Growth Capital Coalition said Wisconsin is falling behind states with a similar workforce in attracting venture capital to create jobs.

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