QNBV certification program allows investors in qualified early-stage companies to receive a 25% state tax credit on the amount they invest in the business. The program, one of several WEDC initiatives aimed at helping early-stage companies secure new investment and accelerates their potential for job creation in Wisconsin.
Investors in Errund can receive up to $125,000 in state tax credits through March 2018 as the company is in the process of closing its seed round, allowing the company to raise as much as $500,000 for its seed round under the program. Errund previously raised $75,000 of pre-seed funding.
“We are really excited to receive QNBV. We were just about to move to Chicago earlier this year and gener8tor kept us in Wisconsin for 3 months. Now, WEDC is keeping us here for another 3 years” said founder Jacob Ong, who worked a year at Epic Systems as a Technical Project Manager prior to launching Errund in early 2016.
Earlier this year, Errund was one of five companies chosen from 691 startups to qualify for gener8tor, a top startup accelerator program headquartered in Wisconsin.
Ong is also contemplating moving Errund’s headquarter from Madison to Milwaukee, Wisconsin to be closer to the Chicago market in which the company currently provides service.
Errund currently focuses on cleaning services and has plans to quickly expand to other home and office services, as well as to other cities beyond the 10 Midwestern cities in which its customers can book next-day cleanings instantly.