WI Senate to take up venture capital bill - WKOW 27: Madison, WI Breaking News, Weather and Sports

WI Senate to take up venture capital bill

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MADISON (WKOW) – The state Senate is set to vote on a bill that would invest millions of dollars in startup businesses on Tuesday.

The venture capital program created under the proposal would contain $25 million from the state and at least $50 million in private money.  The Department of Administration will oversee the program with the goal of helping young companies grow and create jobs in Wisconsin.

Those who support the bill say they will give the state's entrepreneurs some stability, but critics say a one-time investment isn't enough to guarantee a long-term return.  Critics also say the program doesn't specify how many jobs will be created.

The measure passed the Wisconsin Assembly on an overwhelming 91-2 vote.

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