WEDC provides early-stage capital to Whitewater development group

Gov. Scott Walker today announced a partnership between the Wisconsin Economic Development Corp. and the Whitewater Community Development Authority to provide $150,000 in early-stage capital for business development at entrepreneurial companies.

Under the partnership, WEDC will provide the $150,000 for “Capital Catalyst” matching grants, which will be used to help new-start companies and to assist selected emerging businesses. The Whitewater CDA, the economic development organization for the city of Whitewater, will provide a dollar-for-dollar match of the award.

During Gov. Walker’s visit to the Whitewater Innovation Center, the CDA presented the first two grants from the fund, worth $10,000 each, to area companies Date Check Pro and Got Apps.

The CDA will create an investment committee that will establish criteria for awarding additional grants.

This is the second investment made by WEDC in a regional fund. The first was made in October 2012 to the Innovation Fund of Western Wisconsin in Eau Claire.

Funds are to be invested into innovation-based businesses in industry sectors such as advanced manufacturing, agriculture/food processing, information systems/software, medical devices, and renewable/green energy.