TLDR:
- Investment in Wisconsin startups slowed in 2023, following a pandemic boom.
- Health care accounted for the most investment last year at $245 million.
Investment in Wisconsin startups saw a decline in 2023 after a surge during the pandemic. The Wisconsin Technology Council’s report showed that startups raised $490 million, down from the record-high of $868 million in 2021. Although this decline was expected, it marked the third-highest investment level since tracking began. The health care industry received the most investment, with $245 million going towards biohealth and biotech companies. The federally-designated tech hub focusing on biohealth is expected to attract more investments into this sector and elevate Wisconsin’s visibility.
In addition, Bend Health, a telehealth provider based in Madison, received significant funding in 2023, highlighting the critical need for youth mental health services. Despite attracting investors from the East and West Coasts, the challenge of securing investment in the Midwest remains. Columbia. The greater Madison area and southeast Wisconsin continued to attract the most investment in 2023, with efforts to encourage opportunities across the state, as seen in venture capital firms outside the major cities such as the Idea Fund of La Crosse and TitletownTech in Green Bay. Wisconsin is striving to establish itself as a hub for health care tech companies, with the hope of fostering growth and innovation in the state.
