The Ideadvance Seed Fund springs from collaboration between UW-Extension, UW System, and the Wisconsin Economic Development Corporation (WEDC). The mission is to encourage UW System faculty, staff, and students to apply their expertise and scholarship to the economic development of Wisconsin. They know the UW System is rich in knowledge that could positively impact the state by not only increasing the number of businesses and jobs but also provide enhanced educational opportunities for students. The Ideadvance Seed Fund provides a source of capital to encourage and support the UW community to explore and de-risk their ideas, address roadblocks in a timely fashion, and ultimately accelerate commercialization of ideas across all disciplines.
TAHPI is an awardee of an Ideadvance Stage 1 grant. The TAHPI team, using Lean Startup methodologies, worked to reduce the risk in their business model by evaluating customer segments, value propositions and competitive advantages. For the successful demonstration of their progress, they earned $25,000 to advance their business goals.