Technology Assistance Grant (TAG)
The Wisconsin Entrepreneurs’ Network (WEN) is working to provide targeted financial assistance to high-technology, high-growth companies. The Technology Assistance Grant (TAG) program aids small Wisconsin high-technology businesses in their efforts to obtain seed, early-stage or research and development funding. Under the TAG program, WEN can provide you with a grant of up to $3,000 to help cover a portion of the cost of hiring a for-profit, in-state, independent third party to write a comprehensive business or commercialization plan for the creation or expansion of a Wisconsin business. The program is limited to businesses in certain industries.
ELIGIBLE APPLICANTS:
Eligible applicants are Wisconsin for-profit small businesses with fewer than 100 full time employees that need help in attracting early-stage financing. Applicants may not have previously received an EPG grant. The applicant must have an acceptable credit history (i.e. no outstanding tax liens, collections, etc.).
ELIGIBLE PROJECT COSTS:
Eligible project costs are expenses associated with obtaining professional services to obtain a comprehensive commercialization plan; or in meeting specific requirements to obtain seed or early-stage funding from outside sources. Professional services must be provided by for-profit, in-state, independent third parties listed in the WEN Private Sector Service Provider Directory. For a directory of service providers, please click here.
INELIGIBLE PROJECT COSTS:
Ineligible Project Costs are:
• Costs of preparing the application to be submitted to WEN for TAG funding
• Costs incurred prior to the date the TAG application is submitted to WEN
• Overhead, general administrative, and indirect costs
MATCH REQUIREMENT:
Applicants will be required to provide a cash match of at least 25% of the eligible project costs from sources other than the State of Wisconsin.
FUNDING AVAILABILITY:
The funding available for a Technology Assistance Grant is up to 75% of eligible project costs not to exceed $3,000.
There is a greater demand for the funds than there are funds available. As a result, not all projects can be funded.
UNDERWRITING CRITERIA:
In determining whether to fund the application and the amount of the award, WEN shall consider all of the following, in addition to any other information it considers relevant:
(1) The amount of economic impact the applicant, if successful, will have in this state.
(2) The quality of any businesses assisting the applicant.
(3) The level of need demonstrated by the applicant.
(4) The applicant’s record of obtaining early stage financing, including federal funds, in the past.
(5) The viability of the applicant’s business.
(6) The likelihood that the applicant will successfully commercialize technology.
(7) The applicant’s management plan and management team.
(8) If the application relates to a product, that the product will be manufactured substantially in this state.
(9) If the application relates to a service, that the principal place of business from which the service will be sold will be located in this state.