Marquette University said Thursday it has launched a seed fund that will provide $600,000 of early-stage capital to support student and faculty entrepreneurship on its campus.
The effort is being administered by Marquette and funded by the Wisconsin Economic Development Corp.
“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,” said Mark Hogan, WEDC’s chief executive officer.
The fund will provide awards in the form of grants or investments of $25,000 and $50,000 to as many as six project during each of three competitive application periods. They will also receive mentoring and other programming.
The first applications will be taken this fall, organizers said. Eligible applicants are Marquette students, faculty and staff who have established a legal business entity.
Collaborative partnerships like this one with WEDC “will be key to unlocking Marquette’s potential” to bring solutions to the marketplace, said Jeanne Hossenlopp, the school’s vice president for research and innovation.