The 2022 Chancellor’s Entrepreneurial Achievement Awards honor University of Wisconsin-Madison innovators and alumni who are driving the Wisconsin idea through excellence in entrepreneurship.
The four recipients of this year’s awards demonstrate how the university and its alumni are leading innovation in technology and manufacturing, strengthening the local startup ecosystem, and driving economic growth in the state and across the country.
“UW-Madison’s vibrant culture fosters innovation among faculty, staff, students and alumni. Every day they transform lives through teaching, research, public service and entrepreneurial activities. We’re celebrating the excellence of four UW entrepreneurs who have created incredible value in their communities and beyond. Your work is a shining example of the Wisconsin idea,” said Chancellor Rebecca Blank.
A ceremony honoring the 2022 honorees was held on March 23 at the Discovery Building. See previous recipients the Chancellor’s Prize for Entrepreneurial Achievement, which was established more than a decade ago.
Lynn Allen Hoffmann
Founder, CSO and CEO (retired), Stratatech Corporation
Allen-Hoffmann founded Stratatech to develop a cell-based skin graft to help treat burn victims using a unique line of skin cells discovered in her laboratory at UW-Madison. As the first woman in university to start a biotechnology company, her motivation for the product came after watching a burn surgeon operate on a farmer with third-degree burns and realizing the need for alternatives to the currently available treatments.
Stratatech is an example of how life-saving biotech research at UW-Madison is boosting the state’s economy. It was acquired by UK-based Mallinckrodt Pharmaceuticals in 2016 and remains at University Research Park on the west side of Madison.
“It’s a rare event in science to see something go from a lab discovery to treating patients. She represents what women can do beyond what traditional roles dictated 20 years ago,” said Cathy Rasmussen, Associate Director of the Forward Bio Institute, of Allen-Hoffmann.
President and CEO, Sub-Zero Group, Inc.
Since becoming President and Chief Executive Officer of Sub-Zero Group, Inc., Bakke has transformed his family’s business into an industry-leading manufacturer of luxury kitchen appliances. As the third generation of the Bakke family to run Sub-Zero, he has invested in the latest technology and manufacturing processes, innovative cooking products and new product lines. In the future, the company plans to continue to focus on new technologies, science and design.
Bakke is committed to keeping manufacturing facilities in the United States and ensuring the best possible design and quality. Sub-Zero recently completed its Design Center, a 324,000-square-foot research and development facility in Fitchburg — a $70 million project that is expected to create 100 jobs.
“Sub-Zero has grown from humble beginnings to showrooms in over 40 countries around the world. My grandparents would be thrilled to see all of the success that Sub-Zero owes in large part to Jim,” said Debbie Schwartz, Sub-Zero board member and Bakke’s sister.
Founder and Chief Executive Officer of OnShore Technology Group
King-Bailey is the founder and CEO of OnShore Technology Group, a Chicago-based consulting firm specializing in testing computer systems used by global pharmaceutical, nutritional supplement, chemical and healthcare companies. ValidationMaster, the first of its kind independent validation and verification software from OnShore, helps life science companies meet FDA regulatory requirements. Last year, King-Bailey led OnShore to its first listing on the Inc. 5000 list of America’s Fastest-Growing Private Companies by posting 71% growth during the pandemic.
With more than 40 years of international experience in engineering and life sciences, she is recognized as a pioneer in the STEM fields and a leading advocate for women and underrepresented innovators in the industry.
“Valarie had the drive and passion to grow her business, but like many different founders, she encountered obstacles,” noted Kim Folsom, founder, chairman and CEO of Founders First Capital Partners. “Less than 1% of capital goes to companies founded by African American and Black founders, and significantly less to Black women. It’s important to take her business to the level that she has.”
Chief Operating Officer, Hardin Design & Development
Resnick is an entrepreneur, leader and prominent player in Madison’s collaborative startup ecosystem. Along with another UW-Madison alumnus, Resnick co-founded Hardin Design & Development, where he serves as chief operating officer overseeing business development and operations. The company builds web applications for companies such as American Family Insurance, FedEx, Coleman Campers, and Mercedes-Benz. Resnick is also Senior Advisor to Biobot Analytics, an early-stage MIT spinout that was the first company in the US to detect COVID in wastewater, and Founder of Capital Entrepreneurs, a grassroots organization dedicated to connecting and growing the entrepreneurial community.
Resnick was instrumental in founding StartingBlock Madison, Wisconsin’s largest community of entrepreneurs, startups, investors, accelerators and entrepreneur support organizations.
“Scott has always been a great thinker, but the Madison environment, the university, and the courses he took opened his mind even further,” said Anne Smith, director of the Law and Entrepreneurship Clinic, of Resnick. “He’s energized by the work he does, the people he works with, and taking ideas and helping people make them a reality.”