Aaron Hagar, BizTimes
In 2014, SmartUQ, developer of software that uses virtual simulations and advanced analytics for the manufacturing industry, leveraged WEDC’s Qualified New Business Venture (QNBV) Program to help gain additional funding and mentorship. By offering tax credits for investments made in QNBV-certified companies, the program helps startups get access to the capital necessary for growth and supports innovation and the commercialization of next-generation discoveries in areas including biotech, health technology, information technology, manufacturing, energy and beyond.
Many high-tech companies like SmartUQ require significant amounts of capital to develop and launch their products, and traditional routes for funding, including a small business loan or personal investments from founders, are often not enough to fund the company entirely. SmartUQ’s QNBV certification made it more appealing for angel and venture capital investors to invest in the young company, since they received tax credits for their investments into the company...Read more here.