Testimony of Sam Rikkers, Deputy Secretary and COO, Wisconsin Economic Development Corporation; Senate Committee on Financial Institutions and Reven
January 11, 2022 –  Good morning, Chairman Kooyenga and Members of the Senate Committee on Financial Institutions and Revenue.

Thank you for taking the time today to discuss two pieces of legislation intended to improve access and opportunities for Wisconsin’s start-up business communities and investors. I will provide information on both bills in my testimony today.

Recent years have demonstrated exceptional growth for investments in Wisconsin startups. Using data provided by the Wisconsin Technology Council, in 2020, more than $485 million were invested in more than 114 companies. While we are still finalizing 2021 figures, preliminary estimates show investors provided more than $675 million to 100 early-stage Wisconsin companies – a 40% increase in one year. These results are up from $209 million invested in 2015. In short, investments in Wisconsin entrepreneurs and innovators are strong and growing, a testament, at least part, to the work being done by WEDC and Governor Evers’ administration.

- - Volume: 10 - WEEK: 3 Date: 1/13/2022 9:58:40 AM -