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Viewpoints: New Wisconsin Investment Fund will be noticed beyond state borders

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Viewpoints: New Wisconsin Investment Fund will be noticed beyond state borders







Tom Still

Among the first news outlets to pick up on the recent unveiling of the $100 million Wisconsin Investment Fund were two outside of the state – the Seattle Post-Intelligencer in Washington state and U.S. News & World Report. Both ran an Associated Press story on the news within hours.

As I mentioned to those who gathered at Madison’s Forward BIOLABS for the announcement by Gov. Tony Evers and others, that’s a big reason why the public-private fund is not an end in the state’s journey to build a more vibrant technology economy, but a new and significant beginning.

Like 49 other states, Wisconsin received money through the U.S. Treasury’s State Small Business Credit Initiative, which was authorized by the American Rescue Plan Act. Each state was free to tailor its program to a large degree, and Wisconsin chose to put nearly two-thirds of its allotment into a fund that would require private venture capital firms to match the SSBCI money, dollar-for-dollar.

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The result is the biggest single public-private venture capital initiative in Wisconsin’s history, and a breakthrough that builds on what came before it.

Fourteen venture firms bid with the Wisconsin Economic Development Corp. to be a part of the program and five have been selected so far; a sixth private fund participant is pending. The first five, with a total of $45 million in state commitments, are:

  • HealthX Ventures, Madison, $15 million. HealthX invests largely in the digital health sector but also in other health care innovations.
  • Venture Investors LLC, Madison, $12 million. Venture Investors invests primarily in health care innovation, such as therapeutics, medical devices, health IT and diagnostics.
  • Serra Ventures, Champaign, Ill., $7 million. Serra Ventures invests nationally, especially in the agriculture and food technology space. Some past Serra investments have been in Wisconsin companies.
  • NVNG, Madison, $6 million. NVNG (short for “nothing ventured, nothing gained”) invests broadly in Wisconsin tech sectors including health.
  • Idea Fund of La Crosse, $5 million. Part of the Badger Fund of Funds network, the Idea Fund of La Crosse invests broadly in the Upper Midwest in sectors such as information technology, health IT, data analytics, supply chain, agriculture, manufacturing and financial services.

The mix reflects the overall goal of the fund, which is to build on existing and emerging technology startups, but also to move beyond the traditional research hubs to find companies and entrepreneurs in underserved places.

That’s one reason why Serra Ventures is in the mix, because it’s familiar with spotting strong deals in the agriculture and food tech space (24 current portfolio companies) and has plenty of sales or other “exits” to demonstrate market knowledge.

Another focus will be bio-health, which has long been a Wisconsin tech strength in regions such as Madison and Milwaukee, but increasingly in cities such as Eau Claire. Last year, the U.S. Economic Development Agency recognized Wisconsin as a “regional technology hub” for personalized medicine and related technologies. That could make the state eligible for up to $75 million in federal funding to accelerate growth.

While the announcement was made by Democrat Evers, it’s worth noting that Wisconsin’s efforts to build a stronger tech-based economy have been bipartisan for decades.

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The enactment of investor tax credits in 2005 was led by the late state Sen. Ted Kanavas, R-Brookfield, and then-Commerce Secretary Cory Nettles, an appointee of Democratic Gov. Jim Doyle. The creation of the Badger Fund of Funds in 2013 came during the tenure of then-Gov. Scott Walker with help from both sides of the aisle in the Legislature. Changes to both the investor tax credit program (Qualified New Business Venture credits, also administered through WEDC) and the Badger fund in recent years have also required bipartisan agreement.

Within the Legislature itself, the bipartisan and informal Tech Caucus has both Republican and Democratic leaders and members, further demonstrating that economic growth need not be a partisan squabble.

The $100 million Wisconsin Investment Fund comes with no guarantees, as most young companies fail in time. Those that succeed, however, often do so on a scale that spreads prosperity well beyond company walls. Investors outside Wisconsin will notice this initiative – and perhaps bring their own expertise and money to bear.

Tom Still is president of the Wisconsin Technology Council.



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Senate must pass bill so WI athletics can stay in the game | Opinion

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Senate must pass bill so WI athletics can stay in the game | Opinion



AB 1034 provides clarity around NIL policies, offers limited financial flexibility tied to existing athletic facility obligations, and ensures that Wisconsin Athletics can compete on equal footing.

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  • Wisconsin’s Assembly Bill 1034 aims to modernize state law to reflect new NCAA rules on athlete compensation.
  • The bill would relieve several state universities of $15 million in athletic facility debt to reinvest in athletic programs.
  • Proponents argue the legislation is necessary for Wisconsin universities to compete with peer institutions in other states.
  • Wisconsin athletics reportedly generate over $750 million in statewide economic impact annually.

Let me put my bias, or experience up front. I was a student athlete at the University of Wisconsin-Madison, and was fortunate to have one of my sons graduate as a far better student athlete.

I am writing in support of Assembly Bill 1034, which modernizes Wisconsin law to reflect the realities of today’s college athletic landscape, not because of those past “glory days,” but because college athletics has changed more in the past three years than in the previous three decades.  

New national rules now see universities sharing millions of dollars annually with student-athletes through revenue sharing and name, image, and likeness (NIL) opportunities. Other states have responded quickly, updating their laws to ensure they can compete in this new environment.

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Making sure Wisconsin doesn’t fall behind

The State Assembly, with overwhelming bipartisan support, passed AB 1034, now it’s up to the Wisconsin State Senate to pass this legislation and send it quickly to Gov. Tony Evers to ensure Wisconsin doesn’t fall behind.

AB 1034 provides clarity around NIL policies, offers limited financial flexibility tied to existing athletic facility obligations, and ensures that Wisconsin Athletics can compete on equal footing with peer institutions across the country. In a measured way, the bill would relieve UW-Madison, UW-Milwaukee, and UW-Green Bay of $15 million of debt related to athletic facilities with the expressed purpose that those dollars would instead be used to invest in athletic programs.

This legislation is critical for two inter-connected reasons, competition and economic impact.

At a recent capitol hearing, UW-Madison Director of Athletics Chris McIntosh explained that 80 percent of the entire athletic department budget is generated by the football program. That revenue underwrites the competitive commitment to the other 11 men’s and 12 women’s varsity teams, supporting some 600 student athletes.

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The capacity for this to continue is threatened by $20 million in new annual name and likeness costs that impact all NCAA schools. An expense that will continue to rise.  In addition, peer institutions in the Big Ten and across the country are committing substantial additional resources to these NIL efforts. In short, without this debt support, the university and its athletes will not only lose an even playing field, they may lose the ability to get on the field.  

This threat from the changing nature of NCAA athletics also poses a threat to the economic impact from college athletics. A recent study found that nearly 2 million visitors came to campus events annually, generating more than $750M in statewide economic impact from Wisconsin athletics. Case in point, each home football game produces a $19M economic impact, with 5,600 jobs in the state tied directly or indirectly to the department’s activities.  

This bipartisan legislation is not about propping up a single sport. It’s about protecting broad based opportunities for all our student-athletes, some of whom we just watched win a gold medal for the U.S. women’s’ hockey team.

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Athletics are often noted as the front door to the university, but I would broaden that opening to the State of Wisconsin. Our public university system success strengthens enrollment, attracts the talent that drives our prosperity, and serves as a sustaining way forward for our economy.

Bill provides measured and responsible investment

As the former head of one of our state’s largest business groups, I have spent much of my career engaged in economic development. I know what generates “return on investment.” AB 1034 provides a measured and responsible investment that will generate a positive impact for Wisconsin taxpayers, citizens, and employers.

NCAA athletics has changed, and Wisconsin must change with it, or sit on the sidelines. So let’s encourage the Wisconsin State Senate to pass AB 1034 and put Wisconsin in position to compete on the field which provides a win for our student athletes and all of us who benefit from a world class university system.

Tim Sheehy is a UW-Madison graduate and former student athlete. Sheehy served as the president of the Metropolitan Milwaukee Association of Commerce for more than 30 years where he oversaw economic development and business attraction for the region.

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NE Wisconsin community, politicians react to US airstrikes in Iran

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NE Wisconsin community, politicians react to US airstrikes in Iran


GREEN BAY, Wis. (WBAY) – The United States launched airstrikes in Iran on Wednesday, killing Iranian Supreme Leader Ayatollah Ali Khamenei and prompting fast reactions from across northeast Wisconsin.

In Appleton, over a dozen of protesters came together at Houdini Plaza, protesting the strikes and calling for peace, and in Green Bay, protesters lined the streets with signs condemning the strikes.

One protester we spoke with said the strikes were not about the nuclear protest, but for a regime change.

“All I could think of is WMDs that got us the last war in the Middle East, and it was just a lot of bunk, and the other thing is he said is he’s trying to overthrow the current regime,” said John Cuff of Appleton.

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Area lawmakers are also reacting to the attacks in Iran.

Senator Tammy Baldwin released a statement following President Trump’s announcement of the strikes, saying: “My whole career, I have been steadfast in the belief that doing the hard work of diplomacy is the answer, not war. I believed that when I voted against a war in Iraq and I believe it today. Iran poses a real threat and one we need to take head on, but getting into another endless war is not the answer.

“President Trump illegally bombed Iran, totally disregarding the Constitution, putting American troops in harm’s way, and starting another war in the Middle East with no end in sight. The Constitution is clear: if the President wants to start a war, Congress – elected by the people – needs to sign off on it. The Senate needs to come back immediately to vote on this President’s senseless and illegal bombings– I know where I stand.

“Have we learned nothing from the wars in Iraq and Afghanistan? Doubling down with another open-ended war without realistic goals or a strategy to win is not only foolish, but also recklessly puts Wisconsin’s sons and daughters at risk.

“President Trump pledged to the American people that he would not get involved in another foreign war, and this is yet another broken promise from this President. The President needs to listen to the people he represents: Americans want fewer foreign wars and more focus on them and their everyday struggles.”

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Representative Tom Tiffany also released a statement on X, formerly Twitter, saying: “My thoughts are with the brave U.S. forces carrying out these precision strikes and with the safety of American personnel in the region.”



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Wisconsin lawmakers react to US and Israel attack on Iran

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Wisconsin lawmakers react to US and Israel attack on Iran


MADISON, Wis. (WMTV) -Wisconsin’s congressional delegation is responding to the United States and Israel’s attack on Iran, with members divided sharply along party lines.

Republicans back military action

Rep. Derrick Van Orden (R-WI), a member of the House Armed Services Committee and a retired U.S. Navy SEAL with multiple combat deployments across the Middle East, released a statement supporting the action.

“For decades, the Iranian regime has fueled terror and violence across the world. This regime has operated with impunity for far too long, spreading chaos while threatening the security of the United States and our partners. Their hands are stained with the blood of thousands of Americans,” Van Orden said.

Sen. Ron Johnson (R-WI) also posted support for the military operation on social media, writing: “May God bless and protect our troops as they attempt to liberate the long suffering people of Iran.”

Rep. Tom Tiffany (R-WI) also expressed support for the military operation.

“My thoughts are with the brave U.S. forces carrying out these precision strikes and with the safety of American personnel in the region,” Tiffany said.

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Democrats condemn strikes as unconstitutional

Rep. Mark Pocan (D-WI) criticized the military action on social media, suggesting the strikes were intended to distract from domestic issues.

“Eliminating a nuclear program (that Trump already said was eliminated) & Regime Change. Don’t look at your wallets & what you are paying more for due to Trump’s tariffs OR care about the Epstein files. Trump wants to divert your attention & is willing to kill people to do it,” Pocan said.

Sen. Tammy Baldwin (D-WI) called the strikes illegal and demanded the Senate return to vote on the matter.

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“President Trump illegally bombed Iran, totally disregarding the Constitution, putting American troops in harm’s way, and starting another war in the Middle East with no end in sight,” Baldwin said. “The Constitution is clear: if the President wants to start a war, Congress – elected by the people – needs to sign off on it.”

Baldwin also drew comparisons to previous military engagements.

“Have we learned nothing from the wars in Iraq and Afghanistan? Doubling down with another open-ended war without realistic goals or a strategy to win is not only foolish, but also recklessly puts Wisconsin’s sons and daughters at risk,” she said.

Baldwin noted that Trump had pledged to avoid foreign wars. “President Trump pledged to the American people that he would not get involved in another foreign war, and this is yet another broken promise from this President,” she said.

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