UW Startups Get a Boost
Yup, things are happening. A New York venture capital fund has pledged to invest $500,000 in student startups. The UW Research Park has made move some moves to help software startups as well. I write in Isthmus:
Great Oaks’ investment in student startups coincides with an uptick in entrepreneurial ferment on campus. Mark Bugher, who’s retiring on Nov. 1 after a long run as director of the University Research Park, noted several new moves in a recent wrap-up interview.
This includes the decision to redesign the Metro Innovation Center, the Research Park’s startup site at 1245 E. Washington Ave. Regarded as the park’s “stake in the ground” on the east side, the site has never taken off, despite occupying only 6,000 square feet in the old Gisholt factory complex. Just two of 10 suites are occupied. Bugher and his deputy Greg Hyer expect the space to be redesigned along a more open concept with cheaper rents than the current $700 to $800 a month.
The bigger news is the Research Park’s purchase (with funding from the Wisconsin Alumni Research Foundation) of the old Luther’s Blues building at 1401 University Ave. Hyer put the price at “more than $2 million.” Perhaps better known today as “that purple building,” the site is strategically placed for tech incubation — next to the Wisconsin Institutes for Discovery and near the computer science building.
“It has some real interesting entrepreneurial opportunities for the interaction of students, faculty and the private sector,” notes Hyer, adding that student coworking space will be installed.
To read more, please go here.
In a sidebar, I report that Bugher feels that the Legislature complicates the UW’s efforts to commercialize its biotech research. Find it here.