The Innovation Foundation of Western Wisconsin and the Wisconsin Economic Development Corporation team up in a Matching Grant Program
Posted: February 4, 2013
The Innovation Foundation of Western Wisconsin and the Wisconsin Economic Development Corporation have partnered together in a matching grant program to help entrepreneurs get the start-up capital they need. The funding will be available for all entrepreneurs in western Wisconsin, but the primary focus of the partnership is to seek product innovations that will sustain long-term job growth, increase per capita wages, and create new businesses and corporations in Wisconsin.
Recently, Barb Fuller of Chippewa Falls utilized funds through the Innovation Foundation of Western Wisconsin and its matching grant program to get the start-up capital she needed to turn her idea into a prototype. The Wisconsin Economic Development Corporation provided a $100,000 matching grant to set Fuller's idea into motion in Western Wisconsin. Fuller's "Neck Nap" device fits on beauty salon chairs and allows for a more comfortable experience while at the salon. The matching grant allowed her to take the design to a local company and send the prototype into production.
The purpose of the matching grant program is to help entrepreneurs identify gaps in resources, from business knowledge to capital, and to provide those resources so that business and product ideas reach their highest potential. The Innovation Foundation has $200,000 in funding available for projects, as well as a 1:1 dollar match requirement. With these tools, the Innovation Fund might be able to help advance your local projects.