15 Jun STATE FUNDS HELP ACCELERATE UW-MADISON TECHNOLOGIES FROM LAB TO MARKET
Emerging technologies developed at UW-Madison will receive a funding boost as the result of a $200,000 grant from the Wisconsin Economic Development Corporation (WEDC) in support of an on-campus grant program administered by UW’s Discovery to Product (D2P).
This year, D2P’s annual State Economic Engagement and Development (SEED) program will help advance the innovative research and commercialization of technologies developed by six companies founded by UW–Madison researchers. WEDC’s support comes from its Capital Catalyst program, which provides matching seed funds to accelerate in-state innovation and attract additional investment in Wisconsin’s emerging companies.
“We very much appreciate WEDC’s support of the SEED program and homegrown innovation, in general,” said D2P Director Andrew Richards. “This funding will help these outstanding emerging companies perform additional research on their cutting-edge technologies to improve market readiness and, importantly, help grow these companies right here in Wisconsin.”
SEED program applications are evaluated on technical innovation, interest to a broad economic sector and potential to benefit Wisconsin’s industrial and economic development in the near-term.
This year’s selected projects represent a wide array of Wisconsin innovation, ranging from novel treatments for heart disease to improved infectious disease testing methods to electrical aircraft development.
“Increasing the rate of Innovation for the state is one of WEDC’s key goals in our quest to support more startups and move forward from the pandemic,” said Aaron Hagar, WEDC Vice President, Division of Entrepreneurship & Innovation. “One of the most effective ways to support the formation of next-generation companies is by working with our universities to advance new technologies.”