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Home About Us B2B Club Breaking News Contact Donate Events / Programs Feedback Ideas Incubator Industry Clusters Links / Resources Progess Funds Progress Teams Public Art / Murals Publications		Breaking News January 8, 2005 - Angels help out entrepreneurs. Group to raise capital for inventors. By Colin Atagi, Daily Tribune Staff A local organization is trying to help inventors market their products - an effort that could pay dividends for south Wood County communities. Members of Central Wisconsin Business Angels hope to raise money for inventors in Portage County or south Wood County by finding investors for the products. The organization is working with the Heart of Wisconsin Business & Economic Alliance and the Portage County Business Council. Business Angels members currently are working with some local inventors who want to patent their products, produce them in central Wisconsin and distribute them to other areas. The investors, or angels, are central Wisconsin residents who want to invest in products invented and produced locally. "The focus has been more on products or exporting these products outside the region to create a leverage for this area," said Leon Ostrowski, coordinator and facilitator of Business Angels. The organization also will offer assistance to existing businesses that want to expand. The group has about 200 potential investors lined up, but organizers are trying to narrow the field to 50 people who are fully capable of contributing to the cause. "Ultimately, this is their money that will support these projects, and they'll deal with the owners of those businesses or future businesses," Ostrowski said. "It allows us to expose these new opportunities to them. "The goal for the investors is to get a good return on their money, and we want to make it safe for them. We're just trying to reduce the risk." Entrepreneurs seeking assistance will need to present their ideas and have information about their financial requirements. They will also need a plan for how the investment money will be used. When necessary, the Business Angels will go to the county or state for additional support, increasing the monetary assistance, Ostrowski said. Ostrowski's team may be operating on a local platform, but steps are being taken to promote the program, and others like it, on the state level. Gov. Jim Doyle announced the launching of the Wisconsin Angel Network through the Wisconsin Technology Council this week. "There have been angel investors in Wisconsin for years and years, but this is hopefully going to help educate them, help connect them and help make it easier to form networks," said Kathryn Carlson, executive assistant for the Wisconsin Department of Financial Institutions. "The end goal is to get money into high-growth companies to create jobs," she said. How to get help Local business owners seeking assistance from the Central Wisconsin Business Angels should call 344-1940, or the Heart of Wisconsin Business & Economic Alliance at 423-1830. Below are the three categories of entrepreneurs that typically seek assistance from the Central Wisconsin Business Angels, according to Leon Ostrowski: Inventors trying to create a prototype and acquire a patent. Inventors with a patent who need assistance with starting their business. Companies that have a business running but want to expand and need capital. You can reach Colin Atagi at 422-6728 or at catagi@wisconsinrapidstribune.com.
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