LU lands WEDC grant to aid entrepreneurs
51ĀŅĀ× has received a $84,500 Entrepreneurship Partner Grant from the Wisconsin Economic Development Corporationās (WEDC) to expand its programs and services for entrepreneurs and startups in the region.
Lakelandās Center for Innovation and Entrepreneurship (LUCIE) will host grant programming on-campus and also at Jake, a Lakeland Community, in downtown Sheboygan.
āItās gratifying to receive state support for our ongoing efforts to build entrepreneurship and innovation in this region,ā said Stephanie Hoskins, Lakelandās Herbert Kohler & Frank Jacobson Chair in Business and Entrepreneurship.
āWe are one of only a few resources outside of Wisconsinās metropolitan areas and are in a unique position to focus on helping rural entrepreneurs, so this grant is especially important as we work with those individuals and groups to realize their business goals and support their dreams.ā
The WEDC grant dollars will be used to fund several initiatives, including:
Seed, Start, Scale, a series of workshops for startups and entrepreneurs. In addition to these sessions, this program includes some seed funding to help cover initial startup costs.
Several new events, including:
An inaugural Patentpalooza, which will see Lakeland work with companies, universities, and individuals in the community who have an idea they would like to patent or already have a patent to help bring their idea to market.
A buyer's conference at Jakeās which will introduce procurement and sourcing employees from large companies and government to smaller business suppliers to encourage business relationships.
An inaugural angel investor event which will connect local startups with potential investors from across the state.
A total of 10 one-year coworking memberships at Jakeās for startups and entrepreneurs and 10 6-month Maker Memberships to utilize the new Community Design Studio space.
A capital access literacy platform, which will help entrepreneurs identify and connect with the best sources of financing for their businesses.
Technical assistance grants offered through Lakelandās new Community Design Studio to cover the costs for a variety of needs including website, logo design, branding, prototypes, etc.
Piloting a program for new business-to-business startups that are looking for their first five customers. Grant funds will be available to cover half of the cost for the customer, reducing the risk for both the startup and the potential new customer, and helping the startup raise capital.
For more information on the various services that will be provided, visit this link.
The Entrepreneurship Partner Grants were created in 2021 to assist organizations that provide training, financing, mentorship and technical support to startups across the state.
āEntrepreneurs play a vital role in driving Wisconsinās economy forward,ā said Missy Hughes, secretary and CEO of WEDC, the stateās lead economic development agency. āWith the help of our partners, entrepreneurs will be able to bring new ideas and businesses to life.ā
