Universities are one of the largest sources of untapped entrepreneurial potential in Wisconsin. The UW System alone has approximately 165,000 students with youthful energy, healthy curiosities and a capacity for taking risks – three characteristics often used to describe budding entrepreneurs. Furthermore, the University of Wisconsin-Madison has made the top 10 list of colleges that produce the most Fortune 500 CEOs.
It was not too long ago that a startup in Wisconsin had to go to the coasts to raise money. Over time, our state has seen growth in the venture capital industry, and many of the funds are striving to develop our startup ecosystem by investing in companies founded and headquartered in Wisconsin.
Much is currently being written about the lack of women in the venture capital industry, and the statistics paint a clear picture. A study by Axios showed that only nine percent of decision-makers at U.S. venture capital firms are women (an increase from seven percent in 2017).
While Wisconsin is still growing its VC industry, notable women have played important roles. Let’s take a look at a few.
The state is seeing a significant shift in venture capitalists investing or specializing in health tech companies. For example, Venture Investors’ latest $75 million fund will focus exclusively on healthcare deals. Other VCs and funds are focusing on the health tech sector, including Golden Angels Investors, 30 Ventures, HealthX Ventures and Winnebago Seed Fund.
Tim Keane, president of Keane Consultants and founder and managing investor of Golden Angels Investors LLC, was inducted into the Wisconsin Technology Council’s “George Mosher Memorial Investor Hall of Fame” this week during the annual Wisconsin Early Stage Symposium.
“Shark Tank” is an ABC show in which entrepreneurs pitch their business to industry giants to earn investments. Several Wisconsin startups have appeared on “Shark Tank” to jumpstart their business on reality television. Here’s a look at them:
Artificial intelligence (AI) is changing the way people do business and their business models, too. In 2019, AI startups received $28.5 billion in funding across more than 2,300 deals, according to CBInsights. Businesses are using AI to improve customer services, analyze data, predict performance and more.
Wisconsin has been achieving records in terms of startup funding, according to the most recent report by the Madison-based Wisconsin Technology Council. In 2019 alone, Wisconsin tech companies raised more than $454 million, the most amount of capital raised by state companies. Forty-three percent of companies raised at least $1 million, but larger deals from NorthStar Medical Radioisotopes, Redox and SHINE Medical Technologies raised upwards of $75 million, $36.1 million and $132 million, respectively.
Sift Healthcare, which provides advanced decision support solutions for managing the increasingly complex healthcare revenue cycle, closed a $2.8 million round this summer. Rock River Capital Partners and Winnebago Seed Fund participated.