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The Daily Cardinal Est. 1892
Saturday, May 25, 2024

Forbes lists Center in UW Research Park as a top hotbed for tech startups

Forbes Magazine listed the MGE Innovation Center within the University of Wisconsin-Madison Research Park as a top hotbed for high tech startups Friday.

The MGE Innovation Center was recorded on Forbes’ list of “12 Business Incubators Changing the World,” which contained the “top breeding grounds” for compelling high-tech startups, based on trends in funding for private companies, according to a release.

The Innovation Center acts as an incubator for businesses in the earliest stage of development, according to Interim University Research Park Director Greg Hyer.

UW-Madison founded the University Research Park in 1984 and is now home to more than 126 companies that employ 3,500 people.

The rankings were based on data from CB Insights, a New York-based firm that tracks venture capital, private equity and government-supported deals.

"Madison, because of the university, has always had great technology,” Hyer said in the release. “Now, it's beginning to get the established management talent and that begins to build on itself."

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