This week’s episode of “WisBusiness: the Podcast” is with Lisa Johnson, CEO of BioForward Wisconsin.
She shares an update on the Wisconsin Biohealth Tech Hub effort, which is getting $49 million in federal funding this fall after being selected as one of 12 final tech hubs. The U.S. Economic Development Administration has told project leaders the funding will likely come in September or October, Johnson said.
BioForward Wisconsin was the lead consortium member, but Johnson touts the work of other partners that will be leading funded projects including UW-Madison’s School of Medicine and Public Health, GE HealthCare, the Medical College of Wisconsin and Madison College.
The tech hub effort is expected to have a $9 billion economic impact within the decade, creating about 30,000 direct jobs and 110,000 indirect jobs. But Johnson notes it’s about a lot more than just job creation.
“This was about national and economic security and competitiveness for the U.S. in the future … all kinds of technology areas, right, that we could be at a risk if we always have to go overseas or we’re dependent on those in the future,” she said. “So in our area, the biotechnology, [medical] device, genomics area, that also is a key security risk.”
She noted China is investing billions of dollars into genomic sequencing but argues “we cannot be dependent upon China” and should be safeguarding personal genetic information.
“So this is where a tech hub like the Wisconsin Biohealth Tech Hub comes in and is working on various projects that advance our health care data, and protect our health care data and keep that in the United States,” she said.
As one example, the UW-Madison-led project will work with health care systems throughout the state to gather useful data “to be able to provide better solutions” in the future, particularly for disadvantaged communities in Wisconsin.
Johnson shares details on all the projects being spearheaded by partner groups and what they hope to achieve in the coming years.
Listen to the podcast below, sponsored by UW-Madison:
