WARF’s commitment to startups shows robust, sustainable economic strategy
One of the most compelling concerns we’ve heard about the proposed massive state incentives to get Foxconn to build a manufacturing plant here is that the future of the state’s economy arguably depends more on small business creation than one, expensive, albeit potential home run job producer.
Well, WARF just answered that concern: let’s do both.
Last week, Erik Iverson, the managing director of UW-Madison’s patent, licensing and research support engine, the Wisconsin Alumni Research Foundation, said WARF plans to spend $60 million over the next roughly half-dozen years or so on seed and venture funding to grow young companies.
This is the kind of investment that can help create startups as well as help them survive early bumps in the road. Both have hurt the state’s competitiveness in the innovation economy.
Too much of government is either/or. WARF’s commitment and Iverson’s leadership are welcome examples that Wisconsin’s economic strategy can be both robust and sustainable.
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