Marquette announced Oct. 15 it launched The Marquette Enterprise Seed Fund for campus entrepreneurship.
This seed fund will provide $600,000 in early-stage capital to support student and faculty entrepreneurs. The Wisconsin Economic Development Corp. and matching funds from the Strategic Innovation Fund will provide this money.
“Wisconsin’s universities are leaders in advancing new technologies and innovations,” WEDC CEO Mark Hogan said in a WEDC press release. “The Marquette Enterprise Seed Fund will offer a critical source of capital to support the development of new business ventures that bring important solutions to the global marketplace.”
The fund will award up to six projects amounts of $25,000 and $50,000 in each of three application periods, the first of which will take place this fall. In a news brief, Marquette said to check Marquette Today for when they request the project proposals.
Marquette students, faculty and staff who have established a legal business entity are eligible. Applicants will receive a score based on their management team, product or service feasibility, potential market size and business model viability.
Fund recipients will also work with mentors in their focus areas. Each business will meet regularly with these mentors and attend periodic programming sessions hosted by the Kohler Center for Entrepreneurship.
“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,” Jeanne Hossenlopp, vice president for research and innovation, said in the press release.
