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What Will Be Our Legacy For Wisconsin?. We a re at a crossroads. Today ’ s Conversation. Where we are now as a State Where we need to be How we get there. Wisconsin ranked #47 in entrepreneurial activity. We ’ re at a Critical Decision Point — We need jobs!. - PowerPoint PPT Presentation
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What Will Be Our LegacyFor Wisconsin?
We are at a crossroads.
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Today’s Conversation
1. Where we are now as a State
2. Where we need to be
3. How we get there
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We’re at a Critical Decision Point —We need jobs!
Wisconsin ranked #47 in entrepreneurial activity
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Company Creation Turns the Tide• Kauffman Foundation: All net new job
growth from young companies
• 2012 Governors Assoc.: Traditional economic jobs model is outdated
• WEDC Report: Tech companies’ $70K median wage much higher than State’s $50K median wage
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We Have the Ideas Here
• State ranked ~ #3 in annual research spending
• Ranked #14 in patent creation
• World-class academic institutions
• 400+ applicants for 2013Governor’s Business Plan Contest
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And the Young Talent
• Wisconsin academic institutions provide significant opportunities for research, learning & mentoring!
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But Where is The Capital Funding?!
• Wisconsin is lowly ranked in capital creation and funding
• Many states are being aggressive — $150M recently in Colorado alone
• We are behind and need to act now!
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Public Funding Outlook is Bleak
• State Budget now reduced from$300M to only $25M—if that.
• How to deploy dollars is in question
• The politics fluctuate
• No long-term solution
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Private Funding is limited
• Angel investors active in space– Uniquely understand risk and failure– But always will be in short supply
• Wealthy individuals, corporations and foundations are not inclined to be angels
• We are falling behind … and fast!– MJS: Can use up to $350M right now
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New Strategy for Capital Formation• Move discussion
from “Investment”to “Philanthropy”
• Enlist generous Badgers worldwide to save our state
• Create and retain jobs from our ideas for our graduates
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New Strategy for Capital Formation
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BrightStar Wisconsin
• As a 501(c)(3) receives donor funding
• Deployed as equity in early-stage companies
• Returns continuously reinvested backinto foundation
• Expert founders and advisors knowthe space
• Grow and keep brightest young businesses and talent in Wisconsin
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All-Star Team of Founding Donors
Tom Shannon Jeff RusinowJeff Harris Mike Shannon
Susan Engeleiter George Mosher Mark Burish Michael Drescher
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Our Job Creation Ecosystem
Co-InvestorsAngels
Early-StageFundsWARF
Donors
WealthyIndividuals
Corporations
Foundations
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Company/Job Creation Programs
Co-Investing
Grants
Internships
Donor Matching
Recruit aBadger
BadgerBullpen
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Who Will Step Up Next?• New philanthropic option
• “Badgers” by birth, education or choicecan help Wisconsin compete and thrive
• BrightStar Wisconsinwill fund early-stage companies and create high-paying jobs
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Key Facts to Know…
1. Investment committee comprised of early-stage experts
2. Foundation run by independent board
3. Assets always owned by foundation
4. ~ 100% of contributions go to mission
5. Support WEDC job creation initiative
6. Tom Shannon is founder and uncompensated President/CEO
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A Simple Choice
“It’s not too strong of a statement to say that the kind of state Wisconsin becomes will depend upon efforts such as Brightstar.”
– Milwaukee Journal Sentinel
Editorial Board 7/22/13
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Thank You!