MADISON - Governor Jim Doyle today announced that the Department of Commerce (Commerce) has qualified five small businesses for investor tax credits under the new Angel Investor and Venture Fund Tax Credit Programs.

"I championed legislation to spur more venture capital investment, as it is essential to the state's economic growth," Governor Doyle said. "By encouraging investors through tax credits to make these crucial investments - we are helping to turn these great ideas into viable, job-creating businesses."

The Angel Investor and Venture Fund Tax Credit Programs offer Wisconsin income tax credits to angel investors and investors in seed-stage venture capital funds. These programs are designed to increase the supply of both qualified angel investors and investors in qualified venture capital funds.

The tax credits are available only for investments made in technology businesses qualified by Commerce. As Commerce qualifies businesses for investment, it will list them on the Commerce website at commerce.wi.gov/act255.

The qualified new business ventures are as follows:

BioSystem Development, LLC - A Middleton company established in 2002 to develop products to improve conventional protein assay test methods. For more information, visit www.biosystemdevelopment.com.
eMetagen, LLC - A Madison company founded in July 2002 to develop faster and more cost-efficient identification and development of antibiotics and other therapeutic natural products. For more information, visit www.emetagen.com.

BellBrook Labs LLC - A Madison company founded in August 2002 to develop biological assay systems and methods of calculation to more accurately describe human disease processes and therefore enable more rational drug discovery. For more information, visit www.bellbrooklabs.com.
SirkPath, Inc - A Neenah company founded in July 2000 to develop a system that allows non-healthcare locations to create and maintain a complete, accurate and up-to-date health record. For more information, visit www.sirkpath.com.

Sound Focus LLC - A Madison company founded in 2003 to develop and commercialize a proprietary platform technology for sound projection and reproduction. For more information, visit www.soundfocus.biz.

For further information on the Angel Investor and Venture Fund Tax Credit Programs, contact Jamie Wall, Department of Commerce, at 608-267-0770.

- Tony Hozeny

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