The University of Wisconsin-Milwaukee Research Foundation is trying to raise $400,000 that would be used to invest in startup companies involving UWM faculty, students or staff that have licensed intellectual property through the foundation.
The university's Bridge Grant Program will help commercialize innovations developed at UWM. The funds can be focused on translational research, proof of concept, and startup formation and growth.
“This is a great opportunity to accelerate strong ideas at UWM by using early stage investment," said Jessica Silvaggi, UWMRF director of technology commercialization. "The Bridge Grant will be instrumental in helping our teams accomplish key milestones and attract further funding from agencies and investors.”
The UWMRF hopes to make its first awards in 2021.
The funding pool is being supported by a $200,000 matching grant from the Wisconsin Economic Development Corp.
“Startups coming out of universities have extraordinary potential but are faced with challenges in converting the underlying research into business opportunities,” said Aaron Hagar, vice president of the WEDC’s Division of Entrepreneurship & Innovation. “This new fund helps close that gap and gets these promising technologies to the point where private sector investment can take over.”
