New grant to help local business growth - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Eau Claire (WQOW)- A new partnership between an economic development corporation and a non-profit called the Innovation Foundation is hoping to help entrepreneurs get the ball rolling. 

The Innovation Foundation of Western Wisconsin is a mouthful, but the concept is simple:  if you have an idea for a new product or service the Innovation Foundation can help get you started. 

"In this state we have to start investing now for our long-term job growth. That's what we're doing. We're investing to get businesses created," says Lisa Johnson, Wisconsin Economic Development Corporation.

Here's how it works:  funding is available for entrepreneurs in western Wisconsin which can be used for start-up capital.

"The key point that we see right now because we are low in business creation in the state of Wisconsin is getting this very early seed capital in," says Johnson.

Grants will be geared towards those with ideas in technology.

"These are really critical for long-term job growth, high paying wages. All entrepreneurs are important, there is no question, but these types of entrepreneurs need additional capital as far as taking ideas to product development. And these are the companies that really form much larger corporations in the future," says Johnson.