New initiative set to spur entrepreneurial growth
Monday, January 29, 2007 10:00 AM CST
OCONOMOWOC — Wisconsin Department of Commerce Secretary Mary Burke released a new proposal on Jan. 11 that would reward innovative ideas tailored to the needs of specific Wisconsin companies.
The proposal, called Wisconsin Idea-Link, would replicate a successful project at UW-Whitewater in 2004 sponsored by Johnson-Diversey Company of Racine. Essentially, the company offered cash prizes for students, staff and faculty who submitted innovative product ideas to meet the company’s needs.
The Wisconsin Entrepreneurs’ Network (WEN), through funding from Commerce, would provide competitive grants of up to $10,000 for evaluation and marketing costs for a maximum of 10 projects. Companies would provide additional prize money as incentive for entrepreneurs and others to develop solutions to specific challenges.
“Large companies have different hurdles,” Burke said. “We want to see how we can bring these corporations into the entrepreneurial culture.”
Burke spoke at a WEN partner event at the Olympia Resort & Conference Center, along with David Wilson, Chancellor of UW Colleges and UW-Extension, and Republican State Sen. Ted Kanavas, a key supporter of Wisconsin entrepreneurship.
Debra Malewicki, WEN interim director, said Wisconsin Idea-Link is an attempt to draw large corporations into WEN activities.
“We will be asking communities to recruit a corporate partner who would put up the prize money,” Malewicki said. “This gives us an opportunity to take advantage of the knowledge assets we’ve accumulated.”
A task force will develop an RFP (request for proposal) for the grants, she said.
Launched in early 2005, WEN is a joint venture of the Department of Commerce and UW-Extension. It is designed to help spawn new ventures and grow existing businesses by creating seamless access to entrepreneurial resources and expertise across Wisconsin.
Wilson, who has been in his job for nine months, said the university system is looking at ways to encourage entrepreneurs.
“We are looking at modifying the curriculum of UW Colleges in a way that will bring us in line with the market,” Wilson told the group of about 100. “We will be calling into question... whether a student needs 14 weeks to complete a course. We are looking at allowing students to enter (programs) when they want to enter. We are looking at what we are teaching.”
Wisconsin’s demographics are shifting, he said.
“That’s good news for our entrepreneurial vitality,” Wilson said. “Women and minorities are going into business at a higher rate than white males. The notion of ability to take greater control over one’s destiny appears to resonate powerfully with these groups.”
WEN has hired Kamela Goodwyn to help aspiring minority entrepreneurs in the Milwaukee area.
For more information, contact Debra Malewicki, interim director, Wisconsin Entrepreneurs’ Network at 608-263-7794 or debra.malewicki@uwex.edu. |
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