The university has launched a new program funded by the Wisconsin Economic Development Corporation that aims to help fund student- and faculty-led entrepreneurial efforts in order to support and increase the number of businesses emerging from Marquette’s educational and research programs.
The Marquette Enterprise Seed Fund will draw upon WEDC’s Capital Catalyst Program and matching funds from the university’s strategic innovation fund initiative to provide $600,000 in early-stage capital to support entrepreneurship on campus. The fund will provide awards of $25,000 and $50,000 to up to six projects in each of three competitive application periods, the first of which will occur this fall. Eligible applicants are Marquette students, faculty and staff who have established a legal business entity.
A request for proposals will be issued this semester; watch Marquette Today for the announcements.
“As we continue to boost research and innovation at Marquette, particularly around those projects with commercial potential, seed funding like this has become increasingly important,” said Dr. Jeanne Hossenlopp, vice president for research and innovation. “President Lovell believes firmly that collaborative partnerships like this one with the WEDC will be the key to unlocking Marquette’s potential to bring transformative solutions to the marketplace.”
In addition to financial assistance, fund recipients will benefit from the guidance of experienced mentors. Businesses will meet regularly with their mentors, and attend periodic programming sessions hosted by the Kohler Center for Entrepreneurship.
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