Wisconsin Alumni Research Foundation

The Wisconsin Alumni Research Foundation (WARF) is a private, nonprofit organization dedicated to supporting research and commercialization at the University of Wisconsin–Madison. Established in 1925, WARF serves as the patent and licensing arm for the university, managing intellectual property developed by UW–Madison faculty, staff, and students. Its primary mission is to move groundbreaking discoveries from the laboratory to the marketplace, generating revenue that is then reinvested into university research. This unique model positions WARF not as a traditional venture capital firm making external investments, but rather as a crucial engine for innovation within the UW–Madison ecosystem.

WARF's approach to fostering innovation includes various programs designed to bridge the gap between early-stage research and commercial viability. Through initiatives like the WARF Accelerator Program, it provides strategic funding and support to advance promising UW–Madison technologies toward commercialization, often leading to the formation of new spin-off companies. Similarly, the WARF Discovery Initiative offers grants to UW–Madison researchers for high-risk, high-reward projects that have the potential for significant societal impact. While these programs involve financial support, they are distinct from typical venture capital investments made into third-party companies, focusing instead on the development and licensing of university-owned intellectual property.

WARF's financial strength and long-term impact are substantial. As of 2023, WARF's endowment stood at approximately $3.2 billion, a testament to its successful management of intellectual property and strategic investments. Since its inception, WARF has returned over $1.8 billion to UW–Madison, directly supporting a wide range of research activities across the university. This continuous reinvestment underscores WARF's commitment to advancing scientific discovery and fostering economic development through the commercialization of UW–Madison innovations. Given its specialized role as a technology transfer and IP management entity, WARF does not operate with a typical venture capital "first check" size for external companies.