Innovation and Economic Development Research Program
The Innovation and Economic Development Research Program is a state-funded annual grants program that awards funds to faculty or academic staff who are partnering with Wisconsin companies with innovative research projects. The grants are $50,000 or less, one year in length and are often used for pilot projects that can then be used to apply for additional grant money. A faculty committee looks at the feasibility of the research proposed and the projected impact to the Wisconsin economy in the near future before allocating the grants.
Outcomes
This program strives to provide grants to Wisconsin businesses and ultimately assist in the creation of new products within these businesses. Last year the program spent $1.4 million, received in excess of $700,000 from the collaborative companies and brought in $2.3 million in additional grants. The projects also resulted in ten patent applications with additional possible applications.