MADISON, Wis. (AP) -- Gov. Scott Walker has signed into law a bill that will provide $25 million to startup companies in Wisconsin.
Walker signed the venture capital bill on Thursday in Milwaukee. The measure drew bipartisan support in the Legislature, even though it excluded biotechnology and life science companies from accessing the money.
The money would be available to companies involved in agriculture, information technology, engineered products, advanced manufacturing, and medical devices and imaging. Supporters say those industries are the most likely to create jobs.
The $25 million in taxpayer money would be matched with $50 million in private donations.
Walker has pushed for increasing venture capital in Wisconsin since he took office in 2011.