Madison Reporter

The University of Wisconsin–Madison has announced a strategic vision to enhance entrepreneurial pathways, experiences, and outcomes. This initiative is based on the findings and recommendations of a study commissioned by Chancellor Jennifer Mnookin.

The plan aims to create a robust entrepreneurial environment by leveraging the university’s existing strengths and commitment to fostering entrepreneurship across campus. In 2023, Mnookin tasked a working group of entrepreneurial and innovation leaders from both campus and industry with reviewing current practices and making recommendations.

“UW already is a thriving hub of innovation and entrepreneurial excellence, and we have an opportunity to make it even stronger,” Mnookin stated. “This 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.”

The report, titled ‘Empowering the Wisconsin Idea: The Future of Entrepreneurship at the University of Wisconsin–Madison,’ outlines recommendations in four key areas: committing to excellence in entrepreneurship; establishing campus leadership and structure; creating a culture that promotes entrepreneurship; and expanding access to capital.

The committee behind the report was co-chaired by Jon Eckhardt, Pyle Bascom Professor of Business Leadership, who also holds an appointment at the Wisconsin Institute for Discovery, along with Chris Kozina, former assistant vice chancellor for industry engagement. The committee included members from industry, campus administration, and UW–Madison’s faculty.

Chancellor Mnookin recently appointed Eckhardt as special advisor for the entrepreneurial initiative. “The appointment of Jon Eckhardt as special advisor marks a crucial first step in our journey to elevate entrepreneurship at UW–Madison,” Mnookin said. “Entrepreneurship 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’m confident Jon’s leadership will launch this initiative forward with the energy and focus it needs.”

Eckhardt emphasized the potential impact of this new approach: “By adopting a founder-first approach, we can put our faculty, students, staff, and alumni at the center of entrepreneurship,” he said. “This aligns perfectly with our core activities while advancing the Wisconsin Idea in new ways.”

The recommendations include establishing an on-campus entrepreneurship unit to coordinate efforts among partners including industry representatives, students, alumni, and faculty. It also suggests streamlining policies to reduce barriers for entrepreneurs as well as exploring investments in new physical spaces for fostering entrepreneurship.

“Our work identified so many opportunities for UW–Madison to build on its strengths,” said Rock Mackie from Centaur Medical Holdings. “The potential here is enormous.”

Looking ahead, Eckhardt will lead efforts over the coming year focusing on structuring support for entrepreneurship initiatives while recruiting top talent.

UW-Madison plans collaboration with key partners such as the Wisconsin Alumni Research Foundation among others in implementing these recommendations.