13 May BioForward Wisconsin Releases 2023 Annual Report Highlighting Major Accomplishments
FOR IMMEDIATE RELEASE
MADISON, Wis — BioForward, BioForward Wisconsin, the state’s leading organization dedicated to growing Wisconsin biohealth companies and uniting the industry to define and influence the future of healthcare, is pleased to announce the release of its 2023 Annual Report. The report underscores the organization’s commitment to advocacy, collaboration, education, and networking, which continues to deliver exceptional value to BioForward members and the broader biohealth community.
Throughout 2023, BioForward Wisconsin achieved significant milestones, solidifying its position as a catalyst for innovation and growth in the biohealth sector. Notable achievements include:
- Advancing Wisconsin’s Biohealth Sector: Securing Wisconsin’s designation as an Innovation Tech Hub by the Economic Development Administration, advocating for enactment of legislation awarding $7.5 million for Wisconsin Biohealth Tech Hub Projects, and leading the Wisconsin Biohealth Tech Hub Phase 2 EDA application for potential funding of $50-$70 million.
- Championing Advocacy: Successfully increasing R&D Tax Credit Refundability to 25% and eliminating Personal Property Taxes, effective January 1, 2024.
- Empowering Members: Demonstrating over $26 million in savings for members participating in the BioSavings program in 2023.
- Strategic Initiatives: Prioritizing initiatives to enhance industry innovation and growth such as the BioForward EHS Working Group, diversifying the supply chain, increasing student engagement, and supporting educational partners.
- Fostering Partnerships: Awarding over $14,000 to emerging growth companies through conference registration sponsorships, establishing the Women in Biohealth Leadership Groups, and opening a new BioForward Eau Claire Office.