A group of Wisconsin businesses, universities and government agencies is one of 31 consortiums nationwide to win funding for development a regional technology hub.
The Wisconsin Biohealth Tech Hub, selected from hundreds of applications to the federal the Regional Technology and Innovation Hubs program, will receive a $350,000 planning grant. With the designation as a regional hub it now can apply for up to $70 million in federal funds to develop a network of companies, universities, investors and economic development agencies to accelerate advances in biotechnology and personalized medicine.
The award was announced Monday by the U.S. Economic Development Administration, the division of the Commerce Department that administers the program.
Wisconsin’s application focused on leveraging the state’s existing biotechnology expertise at companies and universities, and the opportunity for them to work with manufacturers and tech companies to bring medical breakthroughs from the laboratory to the marketplace. The majority of the partners are based in the Milwaukee and Madison areas.
BioForward Inc., a Madison-based association of more than 200 biotech, digital health and medical device companies and associated businesses and organizations, led the grant writing and also was awarded a strategy development grant to accelerate development of the proposal.
“Today’s Tech Hub designation for Wisconsin is not just a recognition of our state’s strengths in personalized medicine, biohealth technology, precision manufacturing, and automation. It’s an acknowledgment of our potential for exponential growth and innovation,” Lisa Johnson, CEO of BioForward Wisconsin, said in a statement.
The tech hub designation is intended as “a widely recognized indicator of a region’s potential for rapid technology-led economic growth,” according the Economic Development Administration. The $500 million funding program was created as part of the CHIPS and Science Act of 2022.
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According to the Wisconsin Economic Development Corp., a partner in the initiative, the funding will position the consortium to “scale up operations to a global level” by sharing data and systems to drive innovation, developing supply chains that include rural and minority suppliers, and improving funding for startups and growing businesses.
Expansion of the state’s biohealth sector is also expected to drive growth of new, well-paying jobs and targeted workforce training.
U.S. Sen. Tammy Baldwin, a Democrat who is seeking re-election next year, convened meetings in Milwaukee and Madison in August to build support for Wisconsin’s application and pushed the Department of Commerce to approve the proposal.
“With world class research institutions, a strong pipeline of talent, and cutting-edge made in Wisconsin manufacturing, our state is well positioned to drive innovation in biohealth and personalized medicine, pioneering technologies that have the potential to improve access to affordable care, better diagnose and treat patients, and save lives,” Baldwin said.
Consortium members include GE HealthCare, Rockwell Automation, Exact Sciences Corp., Accuray, Plexus, Employ Milwaukee, Wisconsin Regional Training Partnership, the University of Wisconsin-Madison, Milwaukee and Madison area technical colleges, Milwaukee 7 and the Madison Regional Economic Partnership.
