Individual grants of up to $25,000 are being awarded to 11 startups at six University of Wisconsin system campuses.
The Wisconsin Economic Development Corporation (Wedc) and the University of Wisconsin Extension Centre for Technology Commercialization has announced grants for 11 startups worth up to $25,000 each.
The grants will be awarded through the Ideadvance Seed Fund, a $2m fund set up in February 2014 by the Wedc and the university system. To date, 23 startups have received support through the initiative, including grants, mentoring and lean startup training.
Ideadvance was set up to specifically help commercialisation at Wisconsin campuses outside of Madison. The latest batch includes awardees at the Milwaukee campus, Oshkosh, Stout, Parkside, Whitewater and Stevens Point.
All companies receiving a grant at this stage will be eligible to apply for stage two funding in December 2014, which will offer up to $50,000 individual grants.
Mark Lange, executive director of the University of Wisconsin Extension Division of Entrepreneurship and Economic Development, said: “Ideadvance provides a forum for our University of Wisconsin entrepreneurs to explore ideas and overcome commercialisation challenges. Ideadvance helps them identify critical business questions and work through those challenges early. We see that happening among the first cohort of 12 grant recipients that we announced in May.”
