Ethnie Groves, Office of the Governor, 608-261-2156
MILWAUKEE – Governor Jim Doyle announced today the new Wisconsin Institute for Biomedical and Health Technologies at the University of Wisconsin-Milwaukee.
“Today, with the announcement of the formation of this new Institute, we’re taking the next in a long line of steps to make sure that Wisconsin not only competes in the biomedical and health technology fields but that we excel,” Governor Doyle said. “Collaboration between the universities of Southeastern Wisconsin and private industry is vital to the creation of good paying jobs in the region, and across the state.”
The Wisconsin Institute for Biomedical and Health Technologies will support interdisciplinary research in biomedical engineering, health care informatics, and clinical research on patient outcomes and treatment efficacy. Collectively, the public and private partners at the Institute will engage in research and development around areas of particular economic and intellectual strength in Southeastern Wisconsin.
Backed by a $1 million seed grant from UWM, the Institute will involve six schools and colleges and nearly 65 researchers from UWM and the Medical College of Wisconsin. The money will be used primarily to attract a world-class director and his or her research team to UWM. Based on preliminary discussions with the industrial partners, University officials estimate the value of a private sector investment at $15 million.
“This new Institute is right in line with my vision for a high-end economy in Wisconsin – with Milwaukee as a vital economic center,” Governor Doyle said.
The Doyle Administration has worked hard to increase venture capital in Wisconsin for new business start-ups. Governor Doyle signed the Angel Investor and Early Stage Seed Fund Tax Credit Programs into law last year. Since that time, 22 businesses from across Wisconsin have already qualified and the state has awarded nearly $525,000 in Angel tax credits.
Through the Wisconsin Entrepreneur’s Network, the Doyle Administration is assisting new business development. The Governor said that his efforts are to encourage investors to help turn entrepreneurs’ great ideas into viable, job-creating businesses.
“Last November, I announced a partnership with our universities, our scientists, researchers and others, to maintain Wisconsin’s position at the forefront of biotechnology, health sciences, and stem cell research,” Governor Doyle said. “My aggressive strategy encompasses more than just the efforts of state government; it represents a $750 million public and private commitment by our entire state.”
The Governor said that the new Institute is a great part of his Biotechnology and Stem Cell Research Initiative and it will work well with the investments the state is making into research all across Wisconsin.