UW-Whitewater professor and team receive up to $25,000 Ideadvance grant for start-up company
WHITEWATER—A UW-Whitewater professor is among 12 people to receive UW-Extension Ideadvance Seed Fund grants to expand start-up companies.
Dan McGuire, UW-Whitewater art professor and Whitewater Incubation Program fellow, is co-founder and CEO of Foundry Solutions, a company started in 2000 that uses 3-D printers to manufacture foundry products.
McGuire's team mixes an engineered powder and a liquid adhesive in a machine to print 3-D molds.
McGuire's latest endeavor is Innovative Foundry Technologies, a new company he's developing with two partners.
The company is focused on creating foundry related inventions, according to a news release.
His team will receive up to a $25,000 grant.
The university was instrumental in developing the company's research and progress, McGuire said in the release.
“Through the relationship with the Whitewater Innovation Center, we have been exposed to a huge entrepreneurial tool box that provides new companies like ours with all the tools needed to launch our own business concepts into the real world,” McGuire said.
UW System and Wisconsin Economic Development Corporation launched the $2 million seed fund in February.
The grant includes business mentoring to help develop a business model. It also allows for the company to focus on market analysis and customer discovery, Denise Ehlen, Whitewater Incubation Program executive director, said.
If McGuire and his team complete the first stage of Ideadvance, they will be eligible for a second round of funding worth up to $50,000.
Team members include Choton Basu, director of the Incubation Program's Innovation Hub; Jeff Vanevenhoven, entrepreneurship program coordinator and director of the introductory student business incubation initiative; and Ehlen.
The grants are given to faculty, staff and students who are part of the UW System or affiliated with WiSys Technology System or UW-Milwaukee Research Foundation and exploring topics in various disciplines.