WyoVentures will allow University of Wyoming to manage VC funds while also acting as a conduit to startups from the local ecosystem.

University of Wyoming has launched an entrepreneurial support arm called WyoVentures to conduct activities including managing investment and venture funds, according to the Sheridan Press.

The division will allow University of Wyoming to pursue activities it is currently barred from, including fund management, while also operating as a central link to startups from around the local ecosystem through resources such as business management.

WyoVentures will offer early-stage funding, in addition to grants and connections for angel investors. The unit is an expansion of Wyoming’s Institute of Innovation and Entrepreneurship, which was established in 2018 in an attempt to translate more of its academic research into viable businesses.

WyoVentures’ board will include four industry representatives appointed for a two-year term and drawn from five business sectors: natural resources, advanced manufacturing, knowledge and creative industries, agriculture, and tourism and outdoor recreation.