Presentation on theme: "What Will Be Our Legacy For Wisconsin? We are at a crossroads."— Presentation transcript:
What Will Be Our Legacy For Wisconsin? We are at a crossroads.
2 Today’s Conversation 1.Where we are now as a State 2.Where we need to be 3.How we get there
3 We’re at a Critical Decision Point — We need jobs! Wisconsin ranked #47 in entrepreneurial activity
4 Company Creation Turns the Tide Kauffman Foundation: All net new job growth from young companies 2012 Governors Assoc.: Traditional economic jobs model is outdated WEDC Report: Tech companies’ $70K median wage much higher than State’s $50K median wage
5 We Have the Ideas Here State ranked ~ #3 in annual research spending Ranked #14 in patent creation World-class academic institutions 400+ applicants for 2013 Governor’s Business Plan Contest
6 And the Young Talent Wisconsin academic institutions provide significant opportunities for research, learning & mentoring!
7 But Where is The Capital Funding?! Wisconsin is lowly ranked in capital creation and funding Many states are being aggressive — $150M recently in Colorado alone We are behind and need to act now!
8 Public Funding Outlook is Bleak State Budget now reduced from $300M to only $25M—if that. How to deploy dollars is in question The politics fluctuate No long-term solution
9 Private Funding is limited Angel investors active in space –Uniquely understand risk and failure –But always will be in short supply Wealthy individuals, corporations and foundations are not inclined to be angels We are falling behind … and fast! –MJS: Can use up to $350M right now
10 New Strategy for Capital Formation Move discussion from “Investment” to “Philanthropy” Enlist generous Badgers worldwide to save our state Create and retain jobs from our ideas for our graduates
11 New Strategy for Capital Formation
12 BrightStar Wisconsin As a 501(c)(3) receives donor funding Deployed as equity in early-stage companies Returns continuously reinvested back into foundation Expert founders and advisors know the space Grow and keep brightest young businesses and talent in Wisconsin
13 All-Star Team of Founding Donors Tom ShannonJeff RusinowJeff Harris Mike ShannonSusan Engeleiter George MosherMark BurishMichael Drescher
16 Who Will Step Up Next? New philanthropic option “Badgers” by birth, education or choice can help Wisconsin compete and thrive BrightStar Wisconsin will fund early-stage companies and create high-paying jobs
17 Key Facts to Know… 1.Investment committee comprised of early-stage experts 2.Foundation run by independent board 3.Assets always owned by foundation 4.~ 100% of contributions go to mission 5.Support WEDC job creation initiative 6.Tom Shannon is founder and uncompensated President/CEO
18 A Simple Choice “It’s not too strong of a statement to say that the kind of state Wisconsin becomes will depend upon efforts such as Brightstar.” – Milwaukee Journal Sentinel Editorial Board 7/22/13
19 Thank You!
20 Contact Information Tom Shannon, President & CEO (414) , ext. 103 Lorrie Heinemann, Vice President (414) , ext 106 or Cell