{"id":11552,"date":"2024-11-11T08:56:50","date_gmt":"2024-11-11T14:56:50","guid":{"rendered":"https:\/\/www.wisconsin.edu\/all-in-wisconsin-new\/?post_type=campus_story&#038;p=11552"},"modified":"2024-11-11T08:56:50","modified_gmt":"2024-11-11T14:56:50","slug":"uw-madison-unveils-strategic-vision-to-boost-entrepreneurship","status":"publish","type":"campus_story","link":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/story\/uw-madison-unveils-strategic-vision-to-boost-entrepreneurship\/","title":{"rendered":"UW\u2013Madison unveils strategic vision to boost entrepreneurship"},"content":{"rendered":"<figure id=\"attachment_11186\" aria-describedby=\"caption-attachment-11186\" style=\"width: 775px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin-new\/wp-content\/uploads\/sites\/378\/2024\/07\/MAD_Aerial_Downtown18_1261-775x517-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11186\" src=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin-new\/wp-content\/uploads\/sites\/378\/2024\/07\/MAD_Aerial_Downtown18_1261-775x517-1.jpg\" alt=\"Photo of downtown Madison and UW-Madison campus, aerial view. The $49 million in Phase 2 funding to the Wisconsin Biohealth Tech Hub is expected to drive transformative medical innovation, workforce development and critical job growth across Wisconsin. Photo: Bryce Richter\" width=\"775\" height=\"517\" srcset=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2024\/07\/MAD_Aerial_Downtown18_1261-775x517-1.jpg 775w, https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2024\/07\/MAD_Aerial_Downtown18_1261-775x517-1-300x200.jpg 300w, https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2024\/07\/MAD_Aerial_Downtown18_1261-775x517-1-768x512.jpg 768w\" sizes=\"auto, (max-width: 775px) 100vw, 775px\" \/><\/a><figcaption id=\"caption-attachment-11186\" class=\"wp-caption-text\">The working group\u2019s recommendations call for establishing a signature on-campus entrepreneurship unit to coordinate efforts and foster collaboration among partners, industry, students, alumni and faculty. Photo: Bryce Richter<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>The University of Wisconsin\u2013Madison is positioning itself to strengthen entrepreneurial pathways, experiences and outcomes, drawing on the findings and recommendations of\u00a0<a href=\"https:\/\/news.wisc.edu\/content\/uploads\/2024\/09\/EmpoweringtheWisconsinIdea-Report-Final4-Accessible-3.pdf\">a study<\/a>\u00a0commissioned by Chancellor Jennifer Mnookin.<\/p>\n<p>The comprehensive plan outlined in the study aims to create a thriving entrepreneurial environment, leveraging the university\u2019s existing strengths and capabilities along with its ongoing commitment to fostering entrepreneurship across campus.<\/p>\n<p>Mnookin has made entrepreneurship a\u00a0<a href=\"https:\/\/news.wisc.edu\/in-regents-address-chancellor-mnookin-unveils-bold-new-initiatives-to-innovate-for-the-public-good-address-global-challenges\/\">key priority<\/a>\u00a0for the university. In 2023, she charged the working group, comprised of entrepreneurial and innovation leaders from campus and industry, with reviewing current practices and making recommendations.<\/p>\n<p>\u201cUW already is a thriving hub of innovation and entrepreneurial excellence, and we have an opportunity to make it even stronger,\u201d Mnookin says. \u201cThis report, and its recommendations, provide a roadmap not just to unify our existing programs, but to chart a new direction to further empower our entrepreneurial community to lead in ways that truly differentiate us on a national and global scale.\u201d<\/p>\n<p>Titled \u2018Empowering the Wisconsin Idea: The Future of Entrepreneurship at the University of Wisconsin\u2013Madison,\u2019 the report delineates recommendations in four key areas:<\/p>\n<ul>\n<li>Commit to excellence in entrepreneurship.<\/li>\n<\/ul>\n<ul>\n<li>Establish campus leadership and structure to bolster entrepreneurship.<\/li>\n<\/ul>\n<ul>\n<li>Create a culture to promote and celebrate entrepreneurship.<\/li>\n<li>Expand access to capital.<\/li>\n<\/ul>\n<div id=\"attachment_107906\" class=\"wp-caption alignright\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-107906\" src=\"https:\/\/news.wisc.edu\/content\/uploads\/2024\/09\/Jon-Eckhardt-381x500.jpg\" alt=\"\" width=\"250\" height=\"328\" \/><\/p>\n<p class=\"wp-caption-text\">Jon Eckhardt<\/p>\n<\/div>\n<p>The committee behind the report was co-chaired by Jon Eckhardt, Pyle Bascom Professor of Business Leadership \u2013 who also holds an appointment in the Wisconsin Institute for Discovery \u2013 and Chris Kozina, former assistant vice chancellor for industry engagement, now a consultant with the university. It featured members from industry, campus administration and UW\u2013Madison\u2019s faculty.<\/p>\n<p>Members included Zach Ellis, founder and managing partner at South Loop Ventures; Stephanie Furlong, strategic initiatives manager within UW\u2013Madison\u2019s Office of Business Engagement; Valarie King-Bailey, founder and CEO of OnShore Technology Group, Inc.; Rock Mackie, co-founder and board chairman of Centaur Medical Holdings and emeritus faculty at UW\u2013Madison School of Medicine &amp; Public Health; Scott Resnick, co-founder and COO of Hardin Design &amp; Development; and Anne Smith, emeritus faculty at UW\u2013Madison Law School.<\/p>\n<p>Chancellor Mnookin recently appointed Eckhardt as special advisor for the entrepreneurial initiative, underscoring her commitment to moving the effort forward.<\/p>\n<p>\u201cThe appointment of Jon Eckhardt as special advisor marks a crucial first step in our journey to elevate entrepreneurship at UW\u2013Madison,\u201d Mnookin said. \u201cEntrepreneurship is an area where we have opportunities to do even more to spur life-changing innovations and further magnify our economic impact across the state and beyond. I\u2019m confident Jon\u2019s leadership, building on the excellent work of the committee, will launch this initiative forward with the energy and focus it needs.\u201d<\/p>\n<p>Eckhardt highlighted the potential impact of the new approach to entrepreneurship on campus.<\/p>\n<p>\u201cBy adopting a founder-first approach, we can put our faculty, students, staff, and alumni at the center of entrepreneurship,\u201d he says. \u201cThis aligns perfectly with our core activities of teaching, research, and service, while advancing the Wisconsin Idea in new and exciting ways. An intended impact of the founder-first strategy is to spur the formation of more companies across the region and state, extending our impact beyond Madison.\u201d<\/p>\n<p>The recommendations call for establishing a signature on-campus entrepreneurship unit to coordinate efforts and foster collaboration among partners, industry, students, alumni, and faculty.<\/p>\n<p>It also calls for streamlining policies to reduce barriers for entrepreneurs, as well as exploring investments in new physical spaces to foster entrepreneurship and engagement with outside expertise.<\/p>\n<p>\u201cOur work identified so many opportunities for UW\u2013Madison to build on its strengths and take its support for entrepreneurs to the next level,\u201d says Mackie, a member of the committee. \u201cThe potential here is enormous, and it\u2019s exciting to see how these changes could spark even more innovation and growth, both on campus and in increasing the university\u2019s engagement across the state and region.\u201d<\/p>\n<p>Looking ahead, the university has outlined a series of next steps to implement report recommendations. Eckhardt, in his new role as a special advisor to the chancellor, will lead efforts to align key stakeholders and explore structures to support the design of a formal campus entrepreneurship platform.<\/p>\n<p>\u201cOver the coming year, we\u2019ll be focusing on three key areas,\u201d Eckhardt explains. \u201cWe\u2019ll be working on the structure and tactics needed to support entrepreneurship, recruiting top talent to lead our efforts, and gathering data to refine our approach and demonstrate the immense potential of this initiative.\u201d<\/p>\n<p>The university will collaborate with key partners such as the Wisconsin Alumni Research Foundation, the Wisconsin Foundation and Alumni Association, University Research Park and others in considering and implementing the report\u2019s findings and recommendations.<\/p>\n<p>UW\u2013Madison has a long history of entrepreneurial excellence and support to build on. In addition to more than 60 programs and courses focused on entrepreneurship education, the university provides a range of services designed to assist campus entrepreneurs, including the\u00a0<a href=\"https:\/\/innovate.wisc.edu\/\">Innovate Network<\/a>,\u00a0<a href=\"https:\/\/d2p.wisc.edu\/\">Discovery 2 Product<\/a>\u00a0(D2P), the\u00a0<a href=\"https:\/\/teo.wisc.edu\/\">Technology Entrepreneurship Office<\/a>\u00a0and more.<\/p>\n<p><em>View the\u00a0<\/em><a href=\"https:\/\/news.wisc.edu\/content\/uploads\/2024\/09\/EmpoweringtheWisconsinIdea-ExecutiveSummary-Final4-Accessible.pdf\"><em>executive summary.<\/em><\/a><\/p>\n<p><em>View the\u00a0<\/em><a href=\"https:\/\/news.wisc.edu\/content\/uploads\/2024\/09\/EmpoweringtheWisconsinIdea-Report-Final4-Accessible-3.pdf\"><em>entire report.<\/em>\u00a0<\/a><\/p>\n<hr \/>\n<p>Written by Rodee Schneider<\/p>\n<p>Link to original story: <a href=\"https:\/\/news.wisc.edu\/uw-madison-unveils-strategic-vision-to-boost-entrepreneurship\/\">https:\/\/news.wisc.edu\/uw-madison-unveils-strategic-vision-to-boost-entrepreneurship\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The University of Wisconsin\u2013Madison is positioning itself to strengthen entrepreneurial pathways, experiences and outcomes, drawing on the findings and recommendations of\u00a0a study\u00a0commissioned by Chancellor Jennifer Mnookin. The comprehensive plan outlined in the study aims to create a thriving entrepreneurial environment, leveraging the university\u2019s existing strengths and capabilities along with its ongoing commitment to fostering [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":11553,"comment_status":"closed","ping_status":"closed","template":"","institution":[103],"story_category":[],"class_list":["post-11552","campus_story","type-campus_story","status-publish","has-post-thumbnail","hentry","institution-uw-madison"],"_links":{"self":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/campus_story\/11552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/campus_story"}],"about":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/types\/campus_story"}],"author":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/comments?post=11552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/media\/11553"}],"wp:attachment":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/media?parent=11552"}],"wp:term":[{"taxonomy":"institution","embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/institution?post=11552"},{"taxonomy":"story_category","embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/story_category?post=11552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}