MADISON, Wis. (AP) -- Wisconsin lawmakers are set to unveil a bill that will detail how a proposed new venture capital fund will operate.
Gov. Scott Walker has proposed investing $25 million in a funding framework that helps startups and emerging companies. Private entities who are interested in investing need to pitch in a total of $50 million to match the state contribution.
The proposal from Republican Rep. Mike Kuglitsch of New Berlin has gained bipartisan support. Rep. Fred Clark is a Democrat from Sauk City. He says the bill would detail how to leverage Walker's proposed investment to benefit private businesses and create jobs.
Walker's venture capital plan is included in his budget proposal.