Gov. Doyle Announces Funding for Two Minority Business Projects in Madison

For Immediate Release: January 2, 2007
Contact: Tony Hozeny, Department of Commerce, 608-267-9661

MADISON-Gov. Jim Doyle today announced that two Madison businesses, Aristotle Ventures, Inc., and iNOC, LLC have received loans from the Minority Business Development Fund (MBDF).

"My Grow Wisconsin initiative calls for promoting the development of minority businesses across our state," Gov. Doyle said. "This award will help two Dane County businesses expand and create jobs."

The following summarizes the projects:

Aristotle Ventures, Inc., Madison, Dane County, $100,000 MBDF loan
Aristotle Ventures, Inc. will use the loan for working capital necessary to develop and market a private, anonymous software transaction technology. The total project cost is $2.6 million and the project will create between 10-60 jobs over a four-year period.

iNOC, LLC, Madison, Dane County, $47,500
iNOC, LLC will use the loan funds for equipment and working capital to expand existing outsourced Network Operations Center (NOC) service business by improving software tools, training and sales and marketing. The total project cost is $760,000 and 15 new full-time jobs will be created.

For further information about programs and services for minority-owned businesses, contact Ruby Brooks, Department of Commerce, at 414/224- or 608/266-8380.

-30-