To continue to foster entrepreneurship at the University of Wisconsin, the Wisconsin Alumni Research Foundation (WARF) will offer “complementary opportunities,” including seed and venture funding, Managing Director Erik Iverson said in a keynote presentation during the Badger Startup Summit held Thursday at the Wisconsin Institutes for Discovery.

Iverson cited that abundant capital is a condition necessary for UW-Madison startups to have success. That’s why WARF has launched internal seed and venture funds, with $30 million already deployed.

The $10 million seed fund will populate 5-15 companies each year, and it will help get banks involved by “backstopping credit lines,” Iverson said. Meanwhile, the $50 million venture fund will be Series A, B or C.

Another area of focus for WARF is maturing technologies for commercial viability.

“That’s much of the value proposition that WARF provides,” Iverson said, explaining that WARF ranks No. 6 in patents issued. “What we can bring to bear is significant IP expertise.”

Since its inception, WARF has paid more than $200 million of royalty shares to faculty, staff and student investors.

Badger Startup Summit was the kick-off event for the 10-day Forward Festival.