Released by: Justin A. Smith, 414-227-3153 or
Smithj@uwm.edu
“Wisconsin has a comprehensive strategy to ensure that we create thousands of new high tech jobs,” says Governor Jim Doyle. “Through my ‘Grow Wisconsin’ initiative, we are supporting entrepreneurs as they develop high-tech businesses. These types of companies help move Wisconsin’s economy to the high end.”
A key component to the strategy is the Wisconsin Entrepreneur’s Network. WEN is the first statewide network to bring together a comprehensive cluster of entrepreneurial support organizations. WEN is made up of consultants, entrepreneurs, and financiers who work with regional business centers to identify Wisconsin resources that support new businesses. The initiative offers networking, counseling and information on subjects from writing business plans, to accounting, to securing government contracts and other financing.
In its first year it is based at the University of Wisconsin-Milwaukee School of Continuing Education and WEN’s progress is impressive. The project is establishing itself and generating interest amongst the entrepreneurial community. “The Southeast Regional Center has several high growth clients and has formed strong relationships with state and local programs, inventors, private industry and investors that will pay off for the entrepreneur,” says David Linz, southeast Wisconsin regional specialist.
WEN’s regional specialists, charged with building relationships in high growth potential areas, have expertise and business experience in working with high growth potential businesses. Their understanding of both technology and business development helps address the expanded needs of the client who wants to enter a high growth potential industry.
There are specific high growth potential industries on which the state wants to focus through the WEN initiative. Entrepreneurs in the areas of information technology, medical technology, biotechnology and advanced manufacturing are squarely in the target.
“High growth potential business concepts often require higher capital investment and incur longer profitability timetables,” said Linz. “Investors may need more time and a better understanding of applications and markets for the technologies before they sign a deal.”
The regional specialists are very involved with their clients, often times forming the bridge between the entrepreneur’s research and developments and the commercialization process.
“As regional specialists we show entrepreneurs the potential and market value of their ideas. We also provide expert guidance to move companies from business plans, through initial financing and into the first stage of growth,” said Linz. “We can help any entrepreneur with their business needs and we are especially attuned to the needs of the high growth entrepreneur.”
WEN offers all start-ups help with issues like copyrights and intellectual property protection, business planning, and financing. Counselors will also guide clients through applications for small business loans, and plans to attract venture capital and high dollar investors. The program also provides consultations about potential applications and marketing strategies.
The Wisconsin Entrepreneurs Network is continuing the expansion of Wisconsin’s high growth sector. To learn more about the Southeast Regional Center of WEN, contact David Linz at 414-277-3106 or dglinz@uwm.edu.
