06 Feb Madison firm provides $200K in capital to tech companies
Madison, Wis. – Madison Development Corp., a non-profit development company that helps small businesses, will provide $200,000 in venture capital to two Dane County technology businesses.
MDC said it has closed on loans in that amount to C5-6 Technologies, Inc., a biofuels spin off of Lucigen Corp., and to BioSystem Development, a past winner of the Governor’s Business Plan Contest.
C5-6 Technologies, which will develop enzymes used to improve the efficiency of ethanol and other biofuels, will use the money to help complete beta tests of its first commercial enzymes.
MDC’s loan to BioSystem Development, a maker of pharmaceutical research tools, completes a larger round of angel capital that will enable the company to manufacture instruments in collaboration with outside partners. The company recently received a commitment for at least $715,000 in angel investing from two Wisconsin sources, Silicon Pastures and Marshfield Investment Partners.
• BioSystem Development secures angel funding
• Madison business receives $115,000 of new state biofuels funding
• MDC provides venture funding for tech companies
• Winners of past business plan contests secure funding, credibility