BrightStar Wisconsin Foundation Inc. announced it has partnered with gener8tor to invest in technology-enabled, rapidly scalable early stage companies.
Milwaukee-based BrightStar is a nonprofit that uses venture philanthropy, a process through which donations are invested in equity stakes in early stage companies that will create jobs in the state. Gener8tor is a business accelerator program that operates in both Milwaukee and Madison.
BrightStar has committed to investing $50,000 in each company that completes a gener8tor accelerator program and meets its goal of creating jobs in Wisconsin.
“BrightStar's partnership enables gener8tor to attract and retain the region's most promising new companies,” said Joe Kirgues, gener8tor co-founder. “We're thrilled to partner with BrightStar as we continue our shared mission of improving our community through job and wealth creation.”
Five companies were chosen from about 400 applicants to participate in the most recent bi-annual gener8tor program.
BrightStar also announced its third round of investments. Madison-based Forward Health Group Inc. and Madison-based Swallow Solutions Inc. will receive a total of $400,000 in investments.
“BrightStar is very excited to commit to two companies that improve the standard of care and overall costs within health care,” said Dan Matola, CFA, chief investment officer at Jacobus Wealth Management and BrightStar investment committee member. “Swallow Solutions offers a medical device and therapy to help treat dysphagia, a huge cause of patient re-admittance, and Forward Health allows health systems to better leverage the vast amount of data they collect in health records to improve treatment and allocation of resources.”