560.51 Definitions. - Wisconsin Statutes

560.51

SUBCHAPTER IV
ENTREPRENEURIAL ASSISTANCE NETWORKS

Subch. IV of Ch. 560 - ANNOT.

NOTE: 1987 Wisconsin Act 320, which created subchapter IV, contains a prefatory note explaining the Act.
560.51 Definitions. As used in this subchapter:

560.51(1)

(1) "Agency" has the meaning given in s. 13.62 (2).

560.51(2)

(2) "Entrepreneurial assistance program" means a program that directly or indirectly assists an entrepreneur who is starting a business which has significant growth potential, as evidenced by the potential ability to attract and receive venture capital financing, by doing any of the following:

560.51(2)(a)

(a) Educating the entrepreneur about starting a business.

560.51(2)(b)

(b) Evaluating the business' proposed product or service.

560.51(2)(c)

(c) Preparing a business plan acceptable to investors.

560.51(2)(d)

(d) Assembling a team of managers.

560.51(2)(e)

(e) Securing initial and subsequent financing.

560.51(2)(f)

(f) Providing ongoing managerial assistance and monitoring compliance with the business plan after the start-up of the business.

560.51(3)

(3) "Intermediary" means either a person who provides continuing assistance or services to an entrepreneur who is starting a business with significant growth potential, as evidenced by the potential ability to attract and receive venture capital financing, or a consultant who works with such an entrepreneur on a specific task, such as market evaluation, manufacturing techniques or product design.

560.51(4)

(4) "Intermediary assistance program" means a program that directly or indirectly trains or assists an intermediary in developing or using skills necessary to serve an entrepreneur.

560.51(5)

(5) "Metropolitan area" means an urban area and surrounding territory in this state that includes at least one city or village with a population of 25,000 or more.

560.51(6)

(6) "Network" means an organized arrangement for exchanging materials, information and services among entrepreneurs, intermediaries, institutional venture capital investors, other venture capital investors and persons who assist entrepreneurs, intermediaries or venture capital investors.

560.51 - ANNOT.

History: 1987 a. 320.