The leaders behind Wisconsin’s Biohealth Tech Hub, which is slated to receive $49 million in federal funding, have shared more details on how exactly that money will be deployed. As part of the state’s final application to receive a second phase of funding from the Economic Development Administration, six regional projects were highlighted. “Each project
The leaders behind Wisconsin’s Biohealth Tech Hub, which is slated to receive $49 million in federal funding, have shared more details on how exactly that money will be deployed.
As part of the state’s final application to receive a second phase of funding from the Economic Development Administration, six regional projects were highlighted.
“Each project submitted their own application, but it all came together under the Wisconsin Biohealth Tech Hub,” said Lisa Johnson, CEO of BioForward Wisconsin, the lead member of the consortium leading the tech hub initiative.
[caption id="attachment_528947" align="alignleft" width="300"] Lisa Johnson[/caption]
The Wisconsin Biohealth Tech Hub (WBHTH) is located in the Milwaukee, Waukesha and Madison areas with “manufacturing spokes” around the state, according to an executive summary of the project.
The WBHTH will work on six interconnected projects focused on uniting innovation, manufacturing and workforce development initiatives across the region, while also building a “word-class personalized medicine center.”
The first component of the WBHTH will be the creation of a Health Data Hub at the University of Wisconsin-Madison. The Health Data Hub will help innovators address the challenge of the accessibility of comprehensive health data. The hub will offer a cyber-secure database of expansive health data that will be accessible to entrepreneurs, researchers and industry.
"This project provides the foundational data essential for the creation of impactful health solutions," according to a submitted project summary.
Another component of the WBHTH is the CAREScan Mobile Screening Center at the Medical College of Wisconsin. The center will deploy and assess the market potential of new technologies while also working to advance health equity. The center will bring mobile cancer screening fleets to underserved communities to help reduce health disparities while collecting unique biomarker data from diverse populations.
The third project being launched by the WBHTH is the creation of the Image-Guided Therapy Data-Centric Patient Care Pathway project, led by GE HealthCare.
"GEHC employs AI and sophisticated data techniques to streamline the clinical integration of new technologies and prepare manufacturers and supply chains for upcoming demands," according to the project summary. "This project drives growth of theranostics -- an innovative personalized medicine approach that combines treatments and diagnostics -- and supports the growth of new technologies in personalized medicine."
The Advancing Innovation to Commercialization project, led by BioForward Wisconsin, will aim to turn inventions into tangible solutions that are built and brought to market. This particular project serves as a support network for entrepreneurs in need of lab space, investment attraction, de-risking strategies and more. Eventually, a pilot lab will be opened in Milwaukee.
Madison Area Technical College is leading the Actualizing Biohealth Career Pathways (ABC Pathways) project, which will look to create inclusive talent pipelines that align with employer demands and address workforce challenges.
Finally, BioForward Wisconsin will also lead the Wisconsin Biohealth Tech Hub Governance Project. This project will provide leadership and lay the groundwork for a “robust innovation cluster.”
"This project synergizes initiatives, tracks metrics, and shares learnings, thus reinforcing the cycle of innovation and deployment," according to the project summary.
In addition to the $49 million of federal funding, the WBHTH will also use $30.6 million in match and investment commitments.
"We expect to see Wisconsin’s GDP surge as these project investments drive growth for the region in these key areas, with Wisconsin’s personalized medicine market expected to grow from $4 billion to $13 billion over 10 years," according to a project narrative.
Economic development leaders project that Wisconsin’s biohealth sector will see the addition of 109,605 jobs over the next 10 years. The personalized medicine industry will see an estimated 30,062 new jobs, the theranostics industry will gain 11,673 new jobs, big data and analytics will see 5,597 new roles, and genomics positions will increase by 12,792. More than half of these jobs will not require a bachelor's degree.
“From Microsoft’s $3.3 billion investment in an AI datacenter in Mount Pleasant to Thermo Fisher Scientific’s $58 million expansion in Middleton, we’re 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,” said Gov. Tony Eversin a statement released Tuesday. “I’m grateful to President Biden, U.S. Sen. Tammy Baldwin, and our federal partners for seeing the potential and promise in Wisconsin’s biotech industry and working tirelessly to help us 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.”
