A Potential Funding Source for Startups

Although Wisconsin has seen an increase in venture capital over the past 10 years, we are still lacking compared to our neighbors. For instance, Wisconsin-based companies raised $273.1 million in 2020, which is only a fraction of the $2.8 billion raised in Illinois and the $1.8 billion raised in Minnesota, and just half of the $558 million raised in Michigan last year.

The relatively low amount raised by Wisconsin companies was not because of a lack of effort, or even a lack of startups. Instead, it’s a lack of available funding.

How Wisconsin Helps Startups Grow and Succeed: Accelerators and Incubators

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.