The state is putting $1 million toward resources, support and technical assistance for rural entrepreneurs statewide. The initiative is led by UW-Madison’s Division of Extension and the Wisconsin Economic Development Corp.
The partners will develop training, technical assistance, and legal and financial advice to rural entrepreneurs in need of support to start a business or bolster their existing business.
“The success of our rural communities is vital to the success of our entire state, but we know rural entrepreneurs face gaps in access to the resources and technical assistance they may need to reach their goals,” says Gov. Tony Evers.
WEDC Secretary and CEO Missy Hughes says rural entrepreneurs often lack the access to capital and network of knowledge of other entrepreneurs.
“Our aim is to make sure everyone in our state has the chance to turn their great ideas into reality,” she says.
UW-Madison Extension Dean and Director Karl Martin says this initiative allows the partners to work with entrepreneurs and industries right in their own communities to leverage the knowledge and talent all around them.
“This is an exciting opportunity to focus on the kinds of businesses that can benefit from training and guidance to bring innovation and action to rural areas,” he says.
Last month, WEDC and Extension also announced five rural communities were chosen to participate in the Community Economic Analysis for Rural Wisconsin Communities pilot program, which is funded by a $150,000 Capacity Building Grant from WEDC and provides resources for rural communities to engage in comprehensive economic development planning for long-term success.
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