Wisconsin: Cuts to UW System could seriously hurt state's economic growth
http://www.jsonline.com/news/opinion/cuts-to-uw-system-could-seriously-hurt-states-economic-growth-b99443996z1-291853951.html
UW-Madison is a premier public university and is especially strong in scientific research. The university generates $1.1 billion annually in research funding, a significant amount of which is spent in Wisconsin, putting it fourth nationally in academic research and development and fourth globally in U.S. patents received. This research generates incredible innovations that can and do create new high-growth companies in many industry sectors, from software to medical innovations to advanced manufacturing technologies.
Many successful start-ups have emanated from Wisconsin's research universities, and this entrepreneurial activity seems to be increasing, though there is much room for improvement. Recent examples include the launch of the next generation of computer network intrusion detection systems, developed by UW-Madison computer science professor Paul Barford, and the UW Carbone Cancer Center's discovery, development and patent of a cancer treatment that limits radiation exposure to surrounding healthy tissue. The goal should be to increase the number and quality of companies that emerge from the entire UW System.
As significant as any products emerging from these campuses are the highly educated and innovative leaders they create. A recently released study from The Brookings Institution ranked Madison the top U.S. metro area for science, technology, engineering and math (STEM) graduates, with one in four of the area's graduates earning a degree in these fields. That's nearly double the national average.
UW System graduates are fueling the growth of many strong Wisconsin companies. As members of the business community, we see this first hand. Exact Sciences, one of the state's fastest-growing biotech start-ups, emerged from two employees in UW's Research Park to an expected staff of 800 by the end of 2015, with more than half of the current R&D and lab team coming from the UW System. Similarly, Wisconsin start-ups that The BrightStar Foundation invested in during 2014 are projected to make 775 new hires over the next three years.
