16 Aug Wisconsin establishes consortium to expand its lead in biohealth
A consortium of 15 public and private partners has been formed to advance an economic development strategy aimed at bolstering Wisconsin’s leadership in personalized medicine and biohealth technology.
The consortium aims to gather stakeholders around a strategy to leverage Wisconsin’s momentum in this growing technology space, to develop and facilitate shared initiatives, and to pursue designation by the federal Economic Development Administration (EDA) as a Regional Tech Hub (RTH). The designation by EDA of Wisconsin as a Regional Tech Hub could enable the state to access $50 million to $75 million in federal funds under the CHIPS and Science Act of 2022.
Consortium members include the Wisconsin Economic Development Corporation (WEDC), the University of Wisconsin System Administration, the University of Wisconsin-Madison, GE HealthCare, Rockwell Automation, Exact Sciences Corporation, BioForward Wisconsin, Employ Milwaukee, Accuray, Plexus, WRTP Big Step, Milwaukee Area Technical College, Madison Area Technical College, the Madison Regional Economic Partnership (MadREP), and Milwaukee7.
The creation of the consortium and the application to EDA for RTH designation is regarded as a milestone in the continued evolution of Wisconsin’s biohealth sector, representing increased opportunities for collaboration and innovation among key stakeholders – including educational institutions, biohealth companies, precision manufacturers, and investors – in the Madison and Milwaukee Metropolitan Statistical Areas (MSAs).
These efforts are anticipated to enhance the health and economic well-being of Wisconsinites and the global community. Additionally, by keeping sensitive biohealth and genomic data in Wisconsin and within U.S. borders, the creation of a RTH here is expected to increase the strength of the nation’s global competitiveness as well as its national security.