The healthcare system in Wisconsin is ahead of other states, which is a main reason for the fast-growing health tech industry, according to a panel discussion at the monthly Wisconsin Innovation Network luncheon held Tuesday at the Sheraton.

“Our company’s success is dependent on being here (in Wisconsin),” Michael Barbouche, founder and CEO of Forward Health Group, said. “In 25 years, I’ve never seen the environment we’re in now.”

Michael Eaton, president of Elli Health, agreed. “The depth of knowledge and experience of people here is unique … there’s so much energy from working in this community.”

Another element adding to the local growth of health tech companies is the new in-state investors, such as 4490 Ventures, the panel said.

HealthMyne Co-Founder Mark Gehring explained how none of the $23 million Propeller Health raised came from Wisconsin-based investors, but “most” of the $6 million raised so far for HealthMyne is locally sourced because of these new, more-experienced investors.

“The value provided (by these investors) goes beyond the dollar amount,” Eaton said.

According to Barbouche, more mentorship needs to be provided to the next generation of entrepreneurs to continue growing this industry.

“If we did that, we could have a lot of (health tech) companies rise up quickly,” Barbouche said.