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