16 Oct Commerce qualifies seven for investor tax credits
Madison, Wis. – The state Department of Commerce has qualified seven small businesses for investor tax credits under the state’s Angel Investor and Venture Fund Tax Credit programs.
The programs, which are designed to encourage investment in technology and biotechnology companies, offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. People that invest in qualified businesses can claim tax credits under the legislation that Gov. Jim Doyle signed in April 2004.
The following companies are among those that now qualify for the program:
• Abiolux, LLC, Pewaukee, which was established in July of 2006 to commercialize a new container inspection technology.
• Alpha Universe, LLC, Madison, which is developing products for the preservation and analysis of a human “bioportrait,” which is a set of polymers containing information about physical and psychological characteristics of individuals. The company was founded in 2002.
• Cell Line Genetics, LLC, Madison, established last year to support stem cell and cancer research.
• Delta Hawk Engines, Racine, a manufacturer of diesel engines for small aircraft. DeltaHawk, founded in 1996, also has received a Technology Assistance Grant (TAG) in the amount of $5,000 for research and development testing and the preparation of documents for a Series A offering.
• Jelly Fish, Inc., Madison, a start-up company that has created a search engine for online price comparison and shopping.
• Salus Discovery, LLC, Madison, which was founded in 2005 to commercialize a multi-conduit array, or slide, for the drug industry. Salus also has received $75,000 in Technology Venture Fund (TVF) tax credits for equipment and working capital needed to develop a prototype.
• Securitas Technologies, Inc., Madison, which is commercializing new technologies to protect against computer viruses and security threats. The company was founded in 2005.
The tax credits are available only for investments made in technology businesses qualified by the state Department of Commerce. As the department qualifies businesses for investment, it lists them on its website at www.commerce.wi.gov/act255.
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