Local entrepreneurs hoping to secure funding for developing and launching their product ideas just got a shot in the arm from the Sheboygan Economic Development Corporation. The SCEDC, through its Accelerate Sheboygan County initiative, has launched its Product Development Loan Program, designed to provide essential financial support to local startups and emerging businesses during key phases of product development, helping them bring their ideas to market.
Adam Kroener, President & Co-Founder of Plymouth’s Carbliss, related that his company – ranked 7th among the Inc 5,000 list of the fastest-growing private companies, was fortunate to get through those critical early stages of development despite considerable risk. He said that, had the PDL program been available to his company, personal risk would have been reduced and the chances of success even greater.
The PDL program will offer funding in three key areas of product development: Up to $10,000 for R&D, proof of concept and prototype creation; Up to $25,000 to help with market entry and initial sales efforts; and up to $25,000 more to assist with scaling production and ensuring long-term profitability.
Qualifying businesses must be Sheboygan County-based and demonstrate economic viability with potential to create local jobs and scale the product beyond the local market. Those interested in learning more should contact SCEDC Executive Director Brian Doudna at 920-946-9378.
Comments