Ideadvance grants are intended to support specific commercialization steps or milestones that will reduce the business risk in your ideas and ultimately help make your business investor-ready.
Stage 1 - funds up to $25,000 and focuses on helping you reduce the risk in your idea by determining what features will solve a real customer need
Stage 2 - funds up to $50,000 and focuses on developing a business model that effectively delivers solutions to customers and prepares the idea for investment
Once you complete Stage 1, you are eligible to apply for Stage 2 funding. Stage 2 applicants must also provide 1:1 funding match of which 50% can be through in-kind matches. To focus on the mission of commercialization, awards are not given in one lump sum but are incrementally dispersed based upon completion of commercialization milestones.
Awards will be determined by an Investment Committee with representatives from UW System, WiSys Technology Foundation, UW-Extension, WEDC, and an entrepreneur affiliated with an eligible UW Campus. The Investment Committee selects competitive proposals that have described well the significance of the market problem, the strength of the proposed solution, and the learning needed to help reduce risks in their business model. The Committee also focuses on the skills of the team and how well prepared they are to tackle this learning.
Ideadvance holds annually two (2) solicitation deadlines for Stage 1 and three (3) solicitation deadlines for Stage 2. Stage 1 annual deadlines occur in April and in July. Stage 2 annual deadlines occur in April, July and December. Our next Ideadvance Stage 2 deadline is December 18, 2015. Contact the New Idea Concierge for proposal instructions.
Have you completed Stage 1? Stage 2 applications are available now! Contact the New Idea Concierge for application instructions.
Interested in getting a jump on the April 2016 Stage 1 deadline? Download the April 2016 Ideadvance Grant Application Guidelines. To learn more about preparing a competitive application, view our Stage 1 Proposal Writing Tips Webinar recorded on April 11, 2014 and download associated Proposal Tips PowerPoint Slides. Finally, before you apply, reach out to the New Idea Concierge via email or at 608.263.3315 to discuss your idea.
