Baldwin's First Bill Would Boost Entrepreneurship, Access To Venture Capital

Interesting to see that Democratic US Sen. Tammy Baldwin's first legislative proposal is aimed at helping entrepreneurs launch new businesses by making more Small Business Administration dollars available to venture capital funds. 

Given the importance of small businesses to growth and employment, the need for more effective small business financing is pressing nationally and acute in Wisconsin, according to a release from her office: 

...Wisconsin has one of the lowest rates of entrepreneurial activity in the nation. [A] report says Wisconsin had the fourth lowest percentage of residents engaged in entrepreneurial activity last year and the second biggest decline in entrepreneurship from a decade ago.

Business organizations in the state think Baldwin's bill is a winner, according to this Gannett report:

BioForward, which represents biotech companies, said expanding access to capital would be key to continued growth of the industry." Supporting innovation in the state can only be a positive long-term for Wisconsin's economic future," executive director Bryan Renk said in a statement.

Also of note: the bill would extend entrepreneurial funding to key Wisconsin industries left out of the venture capital expansion recently approved by the Wisconsin legislature. According to BizTimes.com:

Baldwin said her legislation also does something that Wisconsin's recently passed state venture capital fund does not – it includes Wisconsin biotechnology and life sciences. The bill also includes preference for startups that have previously shown promise by receiving grants from the National Science Foundation, National Institutes of Health, or Small Business Innovation Research program.