The University of Wisconsin-Milwaukee-Research Foundation is raising a $400,000 pool to help commercialize innovations developed at the university.

The fund will be used to invest in startup companies involving UWM faculty, students or staff who have licensed intellectual property through the foundation.

The foundation has received a $200,000 matching grant from the Wisconsin Economic Development Corp. to develop the Bridge Grant Program, which is designed to compensate for a shortage of capital for university-based innovations, UWMRF said.

“Startups coming out of universities have extraordinary potential but are faced with challenges in converting the underlying research into business opportunities,” said Aaron Hagar, vice president of the WEDC’s Division of Entrepreneurship & Innovation. “This new fund helps close that gap and gets these promising technologies to the point where private sector investment can take over.” Read the full story here.