Two Wisconsin companies that trace their origins to federally funded University of Wisconsin-Madison research received recognition in a new economic report Tuesday, according to a university news release.
The Science Coalition report, “Sparking Economic Growth 2.0,” highlights 20 companies with roots in federally funded university research. The report included Wisconsin-based companies Cellular Dynamics International and Virent.
Four UW-Madison stem cell researchers laid the foundation for Cellular Dynamics International, a company that develops and manufactures large quantities of human cells, with funding from the National Institutes of Health, according to the release.
Grants from the U.S. Department of Energy to two UW-Madison chemical engineers funded the research that led to the formation of Virent, a company that turns sugars from plants into new types of fuels and plastics that could replace those made with petrochemicals, the release said.
Science Coalition President Tim Leshan said in the release research is only a small portion of the federal budget, but yields significant results.
“If America wants to maintain its innovative edge, create meaningful jobs and realize economic growth, then we must ensure that funding for scientific research is prioritized, even in times of cost-cutting,” Leshan said in the release.
