University of Wisconsin - Extension

A $100,000 pilot program designed to help entrepreneurs turn their ideas into viable businesses recently was launched by the Wisconsin Department of Commerce and the University of Wisconsin-Extension Small Business Development Center (SBDC).

Under the incentive program, Commerce will interview prospective candidates and select those who demonstrate the knowledge, skills, background and ability to support a business idea. Commerce will award 75 percent of the tuition cost to successful applicants so they can attend an intensive SBDC program, which will focus on developing a business plan.

"Doing an effective business plan is an arduous, time-consuming task. We want to teach the skills that go into this to as many people as possible," said state SBDC Director Erica Kauten. "Many good business ideas in Wisconsin are languishing because this step is missing."

"Venture capitalists tell us that the single most important factor in attracting their attention is the business plan," confirmed Commerce Secretary Brenda Blanchard.

Detailed information on the Entrepreneurial Incentive Program will be available through the state's 13 SBDC service offices in March.