The leaders behind Wisconsin Biohealth Tech Hub,It is scheduled Receive $49 million The state government, which receives federal funding, shared more details about how the money will be allocated. Six local projects were highlighted as part of the state's final application to receive a second round of funding from the Department of Economic Development. “Each project submitted its own application, but they were all grouped together under the Wisconsin BioHealthTech Hub,” said Wisconsin BioHealthTech Hub CEO. Lisa JohnsonCEO BioForward WisconsinA key member of the consortium leading the Tech Hub Initiative.
Lisa JohnsonThe Wisconsin BioHealthTech Hub (WBHTH) will be located in the Milwaukee, Waukesha and Madison regions with “manufacturing hubs” across the state, according to a project description. WBHTH will work on six interconnected projects focused on integrating innovation, manufacturing and workforce development efforts across the region, as well as creating a “world-class personalized healthcare center.” The first components of WBHTH are: University of Wisconsin-MadisonThe Health Data Hub will help innovators tackle the challenge of accessing comprehensive health data. The hub will provide a cybersecurity database of extensive health data that can be accessed by entrepreneurs, researchers, and industry. According to the submitted project summary, “The project will provide foundational data essential to creating impactful health solutions.” Another component of the WBHTH is the Medical College of WisconsinThe center will introduce and evaluate the market potential of new technologies while also working to improve health equity. The center will deploy mobile cancer screening vehicles in underserved areas to help reduce health disparities and collect unique biomarker data from diverse populations. The third project launched by WBHTH is the creation of a patient care pathway project centered around image-guided therapy data. GE Healthcare.
“GEHC will employ AI and advanced data techniques to streamline clinical integration of new technologies and prepare manufacturers and supply chains for future demand,” the project summary states. “The project will accelerate the growth of theranostics, an innovative personalized medicine approach that combines treatment and diagnostics, and support the growth of new technologies in personalized medicine.” Led by BioForward Wisconsin, the “Driving Innovation to Commercialization” project aims to turn inventions into tangible solutions to build and bring to market. This particular project will act as a support network for entrepreneurs who need lab space, investment attraction, risk-reduction strategies, and more. Eventually, a pilot lab will open in Milwaukee.
Madison Area Technical College will lead the Actualizing Biohealth Career Pathways (ABC Pathways) project, which seeks to create a comprehensive talent pipeline that aligns with employer demands and addresses workforce challenges. Finally, BioForward Wisconsin will also lead the Wisconsin Biohealth Tech Hub Governance Project, which will provide leadership and lay the foundation for a “strong innovation cluster.” According to the project summary, “The project will strengthen the cycle of innovation and deployment by synergizing initiatives, tracking metrics, and sharing learnings.” In addition to $49 million in federal funding, WBHTH will also use $30.6 million in matching and investment commitments. According to the project description, “We expect these project investments will spur regional growth in these key areas and boost Wisconsin's GDP as the state's personalized medicine market is expected to grow from $4 billion to $13 billion over 10 years.” Economic development leaders project that Wisconsin's biohealth sector will add 109,605 jobs over the next decade. The personalized medicine industry will add an estimated 30,062 new jobs, the theranostics industry will add 11,673 new jobs, big data and analytics will add 5,597 new jobs, and genomics jobs will increase by 12,792. More than half of these jobs do not require a bachelor's degree. “From Microsoft's $3.3 billion investment in its AI data center in Mount Pleasant to Thermo Fisher Scientific's $58 million expansion in Middleton, we are positioning Wisconsin as a national leader in innovative industries as we work to build the economy we need to meet the demands of the 21st century,” the governor said. Governor Tony Evers In a statement released Tuesday, he said, “I thank President Biden, Sen. Tammy Baldwin and our federal partners for seeing the potential and promise of Wisconsin's biotech industry and working tirelessly to secure these critical investments to accelerate research, grow our workforce and economy, and continue building a multi-billion-dollar industry that supports tens of thousands of jobs across our state.”
