|Contact:||Tony Hozeny, Department of Commerce, 608-267-9661
Sandy McLaughlin, for StrandVision, 978-266-1700
MADISON, Wis. – January 30, 2006 – Governor Jim Doyle announced that the Department of Commerce (Commerce) has qualified four small businesses for investor tax credits under the Angel Investor and Venture Fund Tax Credit Programs.
“I championed legislation to spur more venture capital investment, as it is essential to the state’s economic growth,” Governor Doyle said. “By encouraging investors through tax credits to make these crucial investments, we are helping to turn these great ideas into viable, job-creating businesses. Today, new technology firms are starting and expanding all across Wisconsin.”
“Governor Jim Doyle and the State of Wisconsin are tremendously supportive of business,” said Mike Strand, founder and CEO of StrandVision, LLC. “The Wisconsin Governor’s Business Plan Contest, organized through the Wisconsin Technology Council, was instrumental in helping me launch StrandVision. The Qualified New Business Venture program encourages similar interest and investments from the private sector. I am pleased and honored that StrandVision has become a designated venture.”
The Angel Investor and Venture Fund Tax Credit Programs offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. These programs are designed to increase the supply of both qualified angel investors and investors in qualified venture capital funds. The tax credits are available only for investments made in technology businesses qualified by Commerce. As Commerce qualifies businesses for investment, it will list them on the Commerce website at www.commerce.wi.gov/act255.
StrandVision, LLC, Eau Claire, Eau Claire County. This company was established in 2000 to develop online digital signage. For more information about the company, visit www.strandvision.com.
Horizon Systems & Services, Inc., Sheboygan, Sheboygan County, was established in 2002 to provide engineering, production and marketing application software systems and related services. For more information about the company, visit www.hrizn.com.
Ohigo, Inc., Fitchburg, Dane County. This company was established in 2005 to develop a database search engine.
Visonex, LLC, Green Bay, Brown County. This company was established in 2002 to develop a proprietary web-based disease management reporting service. For more information about the company, visit www.visionex.com.
For further information on the Angel Investor and Venture Fund Tax Credit Programs, contact John Stricker, Department of Commerce, at 608-261-7710.