Forward BIOLABS’ first impact report shows that startups located in the organization have collectively received over $360 million in grants and investment, according to WisBusiness. Since its launch five years ago, more than 40 businesses have taken residence at the coworking space in Madison, and all companies that have moved into their own spaces have stayed in the Greater Madison area.
Forward BIOLABS provides fully-equipped scientific laboratories to help biotech companies get off the ground. Of the resident startups, 80% have UW–Madison connections and 70% are spinoffs from the university.
Of the $360 million total received by resident startups, over $310 million has been in the form of investment, with deals involving more than 45 venture capital firms across at least 14 countries. The remaining $50 million has come from over 56 awards and 10 federal agencies.
The full report is available here.
