Our dedicated staff will support you to prepare and pitch competitive ideas at no cost. Reach out today to tackle the expected July 9, 2021 application due date.
The Ideadvance Seed Fund invites innovation from across the state. From startups to established businesses, if you are exploring a new technology, solution and/or market with business innovation, you might be a fit for Ideadvance.
Stage 1 programs are designed to reduce business and technical risk so you attract customers, partners or other critical funding milestone. Pairing with a UW System faculty, staff, student or alumni gives your business a chance to incorporate talent, energy and technical know-how. Successful Stage 1 companies are eligible for follow-on Stage 2 funding to expand your customer acquisition and follow-on funding strategies.
Great business ideas exist across the state, from education to manufacturing, agriculture, healthcare and more. The Ideadvance Seed Fund and dedicated business advisors will help you explore critical innovative directions, identify milestones, and support you ‘out’ of your comfort zone in order to help you start, scale and expand.
Program Overview & Eligibility
This program funded by UW System and WEDC, administered by the Institute for Business & Entrepreneurship Center for Technology Commercialization, aims to empower existing and new etpreneurs to vet innovative ideas and ofucs on key go-to-market to focus on key go-to-market activities. No more sitting for hours crafting a business plan that won’t survive first contact with customers. Instead, the program gets you “out of the building” to learn about your customer and business. Along the way, you receive grant dollars to advance the business based on the real needs of your customers.
Experienced entrepreneurs looking to innovative with new products in new markets are encouraged to reach out!
Existing Business Opportunity
“I wish I would have gone through this program when I started RCI Engineering about 15 years ago because it would have saved me a lot of failures, a lot of headaches along the way.” – Randy Clark, RCI Engineering, Stage 1 Awardee
Are you in business and looking to test a new idea? Exploring a new, volatile market?
The future of Ideadvance is in the ability to support eligible alumni teams and undergraduate entrepreneurs. Since 2017, Ideadvance has seen a rise in applications from alumni representing a professional audience, with previous business experience. RCI addresses an opportunity to outreach and include more existing businesses looking to diversify and compete in a fast-pace environment.
Lean Startup Framework
The Lean Startup provides a scientific approach to creating and managing startups and get a desired product to customers’ hands faster. The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration. It is a principled approach to new product development that involves early customer interaction to help guide the process.
Contact the New Idea Concierge
It is NEVER too early to discuss your idea and fit for Ideadvance. Start the process by speaking with your New Idea Concierge, Idella Yamben, PhD. Idella, also the Program Manager, will be your primary contact to prepare a competitive proposal, navigate the Lean Startup milestones and to identify resources along the way.