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New UW economic development programs are off to a running start, leaders say [The Wisconsin State Journal :: ](Wisconsin State Journal (Madison, WI) Via Acquire Media NewsEdge) March 26--A program to turn UW-Madison discoveries into commercial companies, created just four months ago, already has more than five dozen prospects to consider. Meanwhile, a new state venture fund may be ready in about 90 days to start considering investments. The new leaders of four University of Wisconsin System economic development programs were the featured speakers Tuesday at a meeting of a Madison technology networking group. Discovery to Product, or D2P, is a partnership between UW-Madison and the Wisconsin Alumni Research Foundation (WARF) that was created last November. Already, 67 proposals have been submitted, said John Biondi, who this month was named director of the program. Acting as an in-house accelerator, or "igniter process," D2P will choose 10 to 12 projects to start with, Biondi said. The program will help form management teams, provide mentors and devise a marketable strategy for the prospective companies, with the help of an initial state allocation of $2.4 million, he said. "It's our job to look at those projects from when the light bulbs come on and manage them through the marketplace," said Biondi, former CEO or president of several local technology companies. Greg Robinson, general partner of 4490 Ventures, said the $30 million joint venture of WARF and the State of Wisconsin Investment Board will focus on information technology innovations. Robinson, who has cofounded a tech company and worked as a Silicon Valley venture capitalist, said he will seek out companies looking to "solve very hard problems" with the potential to become very big companies, if they succeed. Silicon Valley is filled with people who think they can change the world, Robinson said. "Sometimes that leads to huge flameouts ... but it also leads to huge accomplishments," he said. Robinson, appointed to head the new venture fund three weeks ago, said he has been meeting with companies and hopes to have the program fully operating within the next three months. Biondi and Robinson spoke at a luncheon meeting of the Wisconsin Innovation Network, part of the Wisconsin Technology Council. Susan LaBelle, director of the UW-Madison Office of Corporate Relations, and Arjun Sanga, director of the WiSys Technology Foundation, also new to their university-related economic development positions, addressed the crowd as well. About 110 people attended the event at the Sheraton Madison hotel. ___ (c)2014 The Wisconsin State Journal (Madison, Wis.) Visit The Wisconsin State Journal (Madison, Wis.) at www.wisconsinstatejournal.com Distributed by MCT Information Services |