The Wisconsin Economic Development Corporation (WEDC) and the Center for Technology Commercialization (CTC) are accepting applications until July 21 for Stage 1 and Stage 2 of the Ideadvance program, organizers announced recently.

According to a release, the program fosters teams to advance a scalable, profitable business model. 

“Last year’s expanded eligibility and new Stage 1 tracks allowed businesses diverse in business stage, idea and ownership across Wisconsin to connect to the Ideadvance Seed Fund,” New Idea Concierge Idella Yamben said in a statement. “This cohort we are hoping to attract more existing businesses wanting to explore high-risk technology and product commercialization through our Partnered Innovation track. Fostering these partnerships in Wisconsin is incredibly important to expanding the entrepreneurial ecosystem.”

Stage 1 has two tracks. The first is Small Business Innovation, which provides funding up to $15,000. It is intended to support those who want to pursue follow-on funding through revenue, angels or venture capital funding. The second track is Partnered Innovation, which provides funding up to $25,000 and focuses on those who are actively engaged with or expect to require partner expertise toward the commercialization of an innovative process or deep technology.

Stage 2 is comprised of follow-on funding of up to $30,000 to help businesses advance their business models to deliver customer solutions and attract investors.

This year’s Ideadvance marks the 13th round of funding available to UW System alumni, students, faculty and staff.

All applications should be uploaded into the Grant Application Portal.