A Joint Initiative Between     Heart of Wisconsin     Business & Economic Alliance and     Community Foundation of Greater     South Wood County

Home About Us B2B Club Breaking News Contact Donate Events / Programs Feedback Ideas Incubator Industry Clusters Links / Resources Progess Funds Progress Teams Public Art / Murals Publications		Breaking News April 25, 2005 - Business Angels seek more investors By Daily Tribune Staff Group supports start-ups to spur job development A central Wisconsin group created to attract investors in projects that generate jobs and economic development will hold an organizational meeting this week. The Central Wisconsin Business Angels will meet from 4 p.m. to 5:30 p.m. Tuesday at the Portage County Business Council Foundation Room in the Portage County Business Park. The group is scheduled to discuss how the organization works and to take comments from people who would like to become member investors. The purpose of the group is to assist with financing new and early stage businesses in central Wisconsin. The Angel investors will review prescreened projects and individually decide whether they want to help fund each project. To qualify, individual investors must be accredited, as determined by the U.S. Securities and Exchange Commission. That means they must have a $1 million net worth or $200,000 income over the past three years. The investors must be comfortable with accepting the risk of a new venture, and they must want to assist in the development of locally owned businesses. Previously, the Central Wisconsin Business Angels assisted a forest products firm with $1 million that saved more than 70 jobs in Portage and Wood counties. The group is considering three businesses with completed plans. One firm needs $350,000 to begin to manufacture, assemble and supply its patented product to the medical community. A second firm needs $250,000 to expand inventory and distribute its patented garden tool into large national retail chains. A third agriculture equipment and process manufacturer needs $3.5 million for its share of a $35 million processing plant. Another 10 to 15 potential projects are in the business plan development stage. Anyone interested in learning more about joining the Central Wisconsin Business Angels and attending the meeting Tuesday can call Connie Loden at the Heart of Wisconsin Business & Economic Alliance at 423-1830, or e-mail cloden@heartofwi.com, or call Jeff Landin of the Portage County Business Council at 344-1940, or e-mail Jeff.Landin@portagecountybiz.org.
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