WRF Press Releases

October 12, 2001

WRF CAPITAL CELEBRATES NEARLY $100 MILLION IN DONATIONS TO UW OVER 20 YEARS WITH YEAR-LONG EVENTS PROGRAM

SEATTLE - Celebrating its 20th year of connecting business and science, WRF Capital today announced a year-long program of speaker forums and events it will sponsor at the University of Washington in the 2001-2002 school year. 

Co-sponsors for this WRF Celebration Series are the College of Arts and Sciences, College of Engineering, School of Medicine, the School of Business, the UW Alumni Association and the Office the Provost. 

"Our goal is to foster creative thinking, research and scholarship at the University of Washington, and in so doing, to stimulate the growth of start-up ventures based on research done at the university," said Ron Howell, president. Over the past 20 years WRF has donated nearly $100 million to the University of Washington. 

Five of the seven planned events will be lectures on science and technology organized by the College of Arts and Sciences and partner departments as part of the 2002 UW Science Forum. The first, on April 2, will feature Peter Ward, professor of geology, and Don Brownlee, professor of astronomy.  

WRF Capital, the seed venture funding arm of the independent Washington Research Foundation, has invested in 19 early state companies in the past three years. Ideas for such companies spring largely from research carried out at the university and other research institutions in the state.

"Our intention is to liquidate our equity in every start-up in order to replenish our seed venture fund for future investments and gifts to the UW researchers, graduate fellows, professors, endowed chairs and occasional special projects," Howell said. 

WRF Capital has pledged to make gifts of up to 35 percent of its gains from investments in companies with ties to the University of Washington, in addition to the royalties that normally return to the university. Its endowment base is about $50 million. If the base continues to perform as anticipated, it could reach more than $100 million in the next seven to eight years, Howell noted.

In addition to seed funding, WRF Capital provides strong intellectual property experience and expertise to entrepreneurial faculty and students with ideas for start-up companies. It also partners with venture funds, private investors and other venture financing companies.

WRF is a 25-year-old independent nonprofit foundation that captures and enhances the value of intellectual property arising from Washington state research institutions to support research and scholarship.

Washington Research Foundation
2815 Eastlake Avenue E. Suite 300
Seattle, WA 98102