A better and faster user experience is the goal of the Wisconsin Alumni Research Foundation’s new program called “Startup Advantage.” The initiative includes a standardized license agreement offering consistent royalty terms for University of Wisconsin-Madison startups. The new process was developed with input from entrepreneurs, investors, legal counsel and other university startup programs.
For a century, WARF has provided patenting and licensing services for researchers from UW-Madison and the Morgridge Institute for Research. To date, more than 100 faculty and graduate students interested in creating their own startup enterprises have worked directly with WARF in licensing the technologies resulting from research in their labs, leading to business creation fueling Wisconsin’s economy. With growing interest among university inventors in startup entities, WARF wanted to provide an efficient, accessible process to help launch new businesses and support new entrepreneurs.
“We aim to make our process and agreements transparent and more startup friendly,” says Jeanine Burmania, Senior Director of Intellectual Property and Licensing at WARF. “Our hope is to reduce the time and legal processes for startup leaders, helping them avoid some legal expenses and launch more smoothly from campus.”
With Startup Advantage, WARF’s licensing arrangements with UW-Madison startups include a discounted royalty rate and minimal up-front expense.