Thursday, June 5, 2014

Talking Jobs, Burke wants to reverse Republican ban on Biotech start ups from getting venture capital funding.

Why is the Burke campaign sitting on the lead?

It well known by many that unless you're on the "favored" Republican business list, you're not welcome in Wisconsin. That now includes biotech.

When I saw this story about a week ago, I couldn't believe this wasn't a big deal in the campaign. For a state that prides itself on the universities biotech research, the new venture capital fund is barred from helping biotech start-ups by social conservative Republicans. From WKOW, we see Burke reveal how biotech industries have been ignored:

Can you say "stem cell research" and "science?" Scott Walker and his GOP pirates have decided biotech jobs aren't the good kind jobs. Other industries with the wrong kind of jobs; alternative energy and mass transit jobs. And it's showing up in the rankings:
jsonline: In Wisconsin, just 170 businesses were created for every 100,000 adults, ranking the state near the bottom in entrepreneurship, at 45th. An April report by the Kauffman Foundation Wisconsin companies in 2013 raised only $35.9 million of venture capital, according to the National Venture Capital Association Yearbook. Neighboring states including Michigan ($108.2 million) and Minnesota ($270 million) raised substantially more … just getting started is the state-sponsored $30 million Badger Jobs Fund.
Burke would like the fund to have at least $120 million, which still doesn't come close to Minnesota's investment. Here's an update to the above story by Greg Neumann:

I can't urge you enough to check  out this great look at venture capital in Wisconsin from WPT's Here and Now.

1 comment:

Larry St Croix said...

The name of the game is Cui Bono, or as Scottie might say "Whats in it for me?" Do you see Scottie on mass transit? Puhleez! Now a nice private airplane loan from the manufacturer (not happening BTW because they are slowly turning pear shaped) that is much more his style.

Do the Koch Bros have alternative energy interests or is it in direct competition? There is your answer on that industry. Besides, everyone knows 'alternative' means gay & godless.