Episode 12 now available!

Ep 12 - Jessica Silvaggi, President, UWM Research Foundation

​Turning UW Milwaukee Research Into Startups​

Jessica Silvaggi's path to leading the UW Milwaukee Research Foundation wasn't exactly linear. Molecular biology degree → Harvard PhD in bacterial genetics → postdoc researching Parkinson's disease → 16 years in tech transfer.

That scientific curiosity now drives her work helping university researchers turn ideas into real-world products and companies.

In this episode, Jessica shares what actually happens when a university invention needs to find its way to market. Spoiler: most of the time, the inventor becomes the entrepreneur by default because no one else is stepping up.

We dig into the funding programs that have generated $7.80 in follow-on investment for every dollar deployed, why Wisconsin investors tend to wait for traction, and what it would take to build a real pipeline of entrepreneurial talent ready to commercialize breakthrough research.

Episode Topics

• How the UW Milwaukee Research Foundation commercializes university research
• The Catalyst Grant's track record and $49M in follow-on funding
• Why inventors typically become founders when no one else steps up
• Wisconsin's conservative investor culture and the pre-seed funding gap
• Building stronger founding teams through mentorship and fractional executives
• The upcoming Panther Leap philanthropic venture fund
• Startup spotlights: battery materials, FDA Phase 1 drugs, bio pesticides
• How entrepreneurs can get involved with university technologies

→ Listen to the Interview​

Key learnings

Most university startups are founded by the inventor because no one else steps up

One of the most striking insights from my conversation with Jessica is how university startups actually get formed. It's not typically an experienced entrepreneur scanning for promising technologies. It's the faculty member or researcher who invented the thing deciding to take a shot themselves.

Jessica was pretty direct about this. Her team markets technologies to companies, puts them on their website, reaches out to potential partners. But larger companies tend to wait and see. They'd rather acquire something once it has traction than take an early risk.

So what happens? The inventor becomes the entrepreneur by default. Sometimes it's a student, a postdoc, or the faculty member. Sometimes it's all three working together. But the point is, there's a gap in the ecosystem. We need more people actively looking for university technologies to commercialize, not just waiting for them to succeed first.

Every dollar of catalyst funding has generated nearly eight dollars in follow-on investment

The numbers behind UW Milwaukee's Catalyst Grant program are genuinely impressive. Over 18 years, they've given out $6.27 million in seed grants of around $50,000 each. Those projects have attracted $49 million in additional funding from government grants, foundations, and investors.

That works out to $7.80 returned for every dollar donated. Twenty of the 27 startups formed through the research foundation have received a Catalyst Grant at some point.

The program is funded entirely by donors, including 18 years of support from the Bradley Foundation. It's proof that small, early checks can have an outsized impact when they help researchers generate that first bit of data needed to attract larger funding.

Wisconsin investors often wait for traction before investing, even at the angel stage

Jessica didn't sugarcoat this one. Wisconsin investors tend to be more conservative than those in other parts of the country. Even angel investors, who are supposed to be the earliest money in, often want to see traction before they'll commit.

That creates a real chicken-and-egg problem for university startups. You need funding to build traction, but you can't get funding without it. It's one reason the research foundation is working on a new philanthropic venture fund called Panther Leap. The goal is to provide investments under $100,000 at the pre-seed stage, before most angels would typically engage.

If Wisconsin wants to see more startups succeed, we need to shift the culture around early-stage risk. Waiting for proof might feel safer, but it means missing opportunities to back promising technologies when they need support most.

Faculty founders often need to become CEO even though CTO would be a better fit

Here's a mismatch that happens all the time in university startups. A brilliant researcher invents something with real commercial potential. They don't want to leave their teaching position. They've never run a company. Their skills align much more with being a Chief Science Officer or CTO.

But because there's no one else stepping up, they end up wearing the CEO hat too. They're forced to figure out fundraising, go-to-market strategy, unit economics, all the stuff that's completely outside their training.

Jessica's research foundation works to connect these founders with mentors and resources, but the fundamental problem remains. We need more experienced business operators who are willing to partner with technical founders from the beginning, not just advise from the sidelines.

Fractional executives could be the answer for early-stage university startups

One theme that came up repeatedly is the concept of fractional executives. These are experienced professionals who work part-time across multiple companies, providing CFO, CMO, or CEO-level expertise without the full-time salary commitment.

For university startups, this model makes a ton of sense. They often can't afford a full-time executive, and they might not even need one yet. But they desperately need someone who understands financial modeling, or marketing, or how to raise a round.

The challenge is funding. How do you pay for fractional help when you're pre-revenue? Jessica sees this as another place where early-stage grants and philanthropic capital could make a real difference.

The best ideas often come from people who don't realize they have an invention

One of the research foundation's biggest challenges isn't evaluating technologies. It's getting people to disclose them in the first place. Many faculty and students don't even realize they've created something patentable or commercializable.

Jessica spends a lot of time getting invited into capstone classes, entrepreneurship courses, and departmental meetings. The goal is simple: make sure people know the research foundation exists and that they're a free resource for anyone with an idea.

In the Wisconsin university system, undergrads aren't required to disclose inventions. They can walk away with whatever they create. That makes outreach even more important. If a student doesn't know help is available, they might never pursue an idea that could have real impact.

Strong teams matter more than strong technology when it comes to attracting investment

Ask any investor what they look for first, and the answer is almost always the team. Jessica hears this constantly. Investors assume the technology is probably solid if it's coming out of a research university. What they're really evaluating is whether this group of people can execute.

That's why the research foundation is focused on strengthening founder capabilities and building better teams. They run a mentor program with over 20 advisors who work with startups on everything from pitch practice to strategic planning.

But the deeper solution is ecosystem-level. Wisconsin needs better matchmaking between technical founders and business operators. Jessica floated the idea of a statewide database where entrepreneurs could discover opportunities and founders could find partners. It doesn't exist yet, but it's the kind of infrastructure that could change the game.

What is the Startup Wisconsin Podcast?

A new show where you can learn about Wisconsin's growing tech scene. Hear the stories of startups, founders, investors, and the incredibly generous people making it happen every single day.

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Upcoming episodes 👀

• Michael Ceely (Coaching for Entrepreneurs)
• Ben Camp (Recovery.com)
• Russ From (Wayfi Wireless)
• Angela Damiani (Midwest Founders Community)
• Joey Friedli (Trashpoint)
• Justin Byers (Axio BioPharma)

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