The Wisconsin Alumni Research Foundation (WARF), along with the University of Wisconsin and High Alpha Innovation, has launched Varsity Venture Studio, the organizations announced today.

According to a release, the studio, located at 614 Walnut St., provides an emerging model for entrepreneurship that combines dedicated startup capital with hands-on support in company building. It will assess, select and refine business ideas through a structured venture building process, ultimately leading to the launch of at least one funded software company in 2021.

UW-Madison faculty, students and staff with ideas for software that address problems are encouraged to apply.

The final round of idea submissions end Nov. 25.