— Emerging technologies and industries are driving the national investment landscape, according to WEDC Senior Venture Investment Director Greg Williamson.
The Wisconsin Economic Development Corp. earlier this year announced Williamson would be leading the Wisconsin Investment Fund, a $50 million state effort funded by the federal State Small Business Credit Initiative.
Speaking this week at a Wisconsin Technology Council event in Madison, Williamson shared insights on the most promising areas for investment, based on his perspective as board member for several venture studios and advisor to “numerous” venture funds around the country.
“The biggest is probably space, space technology,” he said. “Manufacturing in space, energy generation in space, satellite retrieval and refurbishment, lunar landings and communications … tremendous activity occurring in that arena.”
He foreshadowed some “big announcements” coming in the commercial space industry, predicting funding rounds of between $250 million and $500 million going to space tech companies in the next six months.
Meanwhile, Williamson said the field of robotics is “still huge” from the investor perspective, with applications ranging from warehouse activity to health care and home services. Plus, he said advanced manufacturing such as 3D printing and microtechnology is very attractive to investors, and continues to grow.
“We’ve already seen that encroaching on traditional homebuilding, and we’re going to see it in many other forms of construction as well,” he said.
The fourth sector he highlighted, digital gaming and entertainment, is “an interesting one for Wisconsin,” he said. He noted the Midwest is a growing area of interest for companies in this industry, with West Coast gaming organizations increasingly looking to Madison and other parts of Wisconsin.
Also during the Tech Council event, Williamson discussed plans for the Wisconsin Investment Fund, which aims to support small business development by partnering with established venture capital funds. The state received $80 million from the SSBCI, he noted, with $50 million of that going into the new fund.
The WIF will be focused on angel investment, seed and pre-seed funding, Series A and “maybe an occasional very small” Series B funding round, Williamson said. He added investments will range from $100,000 to $3 million.
“You have to invest at least the amount in SEDI — socially economically disadvantaged individuals or territories within your state — as exist,” he explained. “So within Wisconsin … about 29 percent of the state qualify as SEDI, so at least 29 percent of our portfolio has to be in SEDI investments.”
See more from this week’s Tech Council event: https://www.wisbusiness.com/2023/early-figures-suggest-state-seeing-lower-levels-of-investment-in-2023/
See an earlier story on gaming in Wisconsin: https://www.wisbusiness.com/2023/wisconsin-video-game-sector-ripe-for-growth-advocate-says/
See further details on the WIF: https://wedc.org/programs-and-resources/wisconsin-investment-fund/
— Creating an online carbon calculator that’s accurate and transparent for farmers would be a difficult, but necessary step in responding to more carbon tax demands, experts told a Senate committee.
UW-Madison Energy Finance and State Energy Specialist Tim Baye warned some ag exporters could lose their European markets without a way to calculate how much carbon they produce while making their products.
Baye made the comments in reference to SB 409, which would require DATCP to create an online carbon calculator.
“In Wisconsin, the U.S. and globally, farmers are increasingly expected to meet market demands for sustainability practices and reporting the results from their farm,” he told the Senate Agriculture and Tourism Committee.
While private carbon calculators are out there, Wisconsin Corn Growers Association President Mark Hoffman said there isn’t enough transparency to trust them.
“Current programs by outside companies have not given farmers verifiable results, so we are never sure we are getting the best rates,” he said.
Knowing how much carbon they’re producing would also help farmers engage in carbon credit programs, which would give them more tools to turn a profit and a better idea of how they’re impacting the environment, Hoffman said.
“Having carbon footprint knowledge can help farmers see where they might want to engage with supply chain initiatives, continuous improvement programs or carbon markets,” Hoffman said. “Understanding your footprint is the first step to see if engaging with any of these will be beneficial to our farms’ production.”
Bill author Sen. Rob Cowles, R-Green Bay, said he just wants to give farmers more tools to make money with the resources they have, especially in a constantly shifting global economy.
But DATCP Land and Water Resources Bureau Director Tim Anderson said the agency has no experience creating such a tool and expects having to work with a third party source to create one.
See more at WisPolitics: https://www.wispolitics.com/2023/wed-pm-update-natural-resources-board-approves-stricter-limits-on-surface-water-pollution/
— The Water Council in the coming weeks will host more than 40 visitors from 13 different countries for a series of gatherings in Milwaukee.
These will include economic development experts, government officials and representatives of water technology companies, according to a release.
Between Wednesday and Friday next week, the Water Council will hold a business development event with envoys from Denmark, Spain, Finland, France, the United Kingdom, Ireland, the Netherlands, Brazil and Canada.
Meanwhile, the Water Council is working with the U.S. Trade & Development Agency to support “reverse trade missions” from Egypt, Algeria, Morocco and Jordan next week and the following week.
According to the release, representatives from these countries are seeking solutions from U.S. companies for water challenges in the Middle East.
“We are thrilled to host so many visitors from around the globe and show them why Milwaukee is the ‘freshwater capital of the world,’” Water Council President and CEO Dean Amhaus said in a statement. “We are confident the events will lead to enhanced international cooperation in the water sector and economic development in Milwaukee.”
See the release: https://www.wisbusiness.com/wp-content/uploads/2023/09/9-26-TWC-International-Events.pdf
Listen to a podcast from earlier this year with Amhaus: https://www.wisbusiness.com/2023/wisbusiness-the-podcast-with-dean-amhaus-the-water-council/
— Madison Gas and Electric has installed its first pole-mounted electric vehicle charging station, the utility company announced recently.
In a post on the new station, MGE said it’s working with city officials in Madison to explore using pole-mounted EV chargers in areas with limited access to charging infrastructure. It notes about 80 percent of EV charging is done at owners’ homes, making it difficult for those without a garage or other parking space.
According to the post, MGE has more than 50 public EV charging stations in the Madison area, including the new charger on the city’s east side.
“As we test the technology, other locations in the city are being evaluated for additional pole-mounted charging stations,” the company said.
See more: https://www.mge2050.com/en/innovation/mge%E2%80%99s-first-pole-mounted-ev-charging-station-avail
— Wisconsin Manufacturers & Commerce has announced the top 16 products selected to move forward in the Coolest Thing Made in Wisconsin contest.
According to a release, the competition’s popular vote round received nearly 60,000 votes for more than 100 products. The top 16 will proceed to the Manufacturing Madness portion of the contest, going head-to-head in a bracket tournament.
This year’s top 16 products include food and beverages, vehicles, safety equipment, games and much more.
“We’re immensely proud of our state’s manufacturers and the products they make,” WMC President and CEO Kurt Bauer said. “These products showcase just how diverse Wisconsin’s manufacturing industry is.”
The first round of voting begins today at 9 a.m. and runs through 5 p.m. on Tuesday, the release shows.
See the release: https://www.madeinwis.com/sixteen-wisconsin-products-to-compete-in-manufacturing-madness-tournament/
Watch a video of the top 16 products being announced: https://www.youtube.com/watch?v=eE_3ZF1HcFA
See more on the contest: https://www.madeinwis.com/
<br><b><i>Top headlines from the Health Care Report…</b></i>
— Department of Health Services Secretary Kirsten Johnson told a Senate committee she doesn’t support vaccine or mask mandates to deal with COVID-19, but recommended both to combat the disease, especially those who have an elevated risk.
Meanwhile, anti-abortion groups have called on the Dane and Milwaukee DAs to charge Planned Parenthood abortion providers with violating Wisconsin 1849 law after starting to again offer the procedure at two clinics.
<i>For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.</i>
Sign up here: http://forms.gle/o8FtqTLviGJPja8C9
#TOP STORIES#
# Wisconsin labor leaders say federal rule changes could help reverse declines in union membership
# GHC complementary medicine ending; shifting resources to mental health
# Takeaways from new report on Wisconsin child care: It’s expensive, hard to find and politicians can’t agree on what to do
#TOPICS#
# AGRIBUSINESS
– WCMA export workgroup to discuss trade show ROI
http://wisconsinagconnection.com/story-state.php?Id=873&yr=2023
– Wisconsin farm bureau to teach storytelling strategies
http://wisconsinagconnection.com/story-state.php?Id=874&yr=2023
# CONSTRUCTION
– CBRE opens office on 18th floor of Milwaukee BMO Tower
– Greenfield seeks major mixed-use redevelopment offers for former Spring Mall
# EDUCATION
– Wisconsin school administrators wouldn’t need state licenses, experience under proposed bill
– MATC president Vicki J. Martin to retire in June
# HEALTH CARE
– Parisi to include funding in 2024 budget to expand CARES program outside of Madison
– Mental health crisis program expansion part of 2024 Dane County budget
# LEGAL
– Convicted Milwaukee startup star gets extra time to report to prison
– Milwaukee-area doctor pleads guilty after ordering more than $4 million in unneeded medical equipment
# MANUFACTURING
– Baker Manufacturing celebrates 150th anniversary as staff reflects on history of the company
– Appleton company leads top 16 bracket in Coolest Thing contest
# MEDIA
– New York Times names Milwaukee’s Birch as one of America’s top 50 restaurants
# POLITICS
– Republican bill bans gender-transition treatment for minors
# REAL ESTATE
– Frank Lloyd Wright-designed home for sale on the east side
– See inside Frank Lloyd Wright-designed home in Milwaukee, which is on sale block for $1.5M
# RETAIL
– A women’s clothing boutique offering sizes small to 3X has moved to College Avenue: The Buzz
# SPORTS
– His classic 1972 Packers Cadillac has been turning heads at Lambeau for 33 years
# TECHNOLOGY
– Synthetaic’s AI tool helps scientists discover Hawaiian seabirds thought to be extinct
# TOURISM
– Report: Visitors spent $66M at Wisconsin national park sites last year
– Milwaukee Public Museum lands $10 million gift for new building
– Milwaukee Public Museum project secures its largest private donation
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
