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<PAGE> 1 EXHIBIT 23.1 Independent Auditors' Consent The Board of Directors Third Wave Technologies, Inc. We consent to the references to our firm under the captions "Selected Financial Data" and "Experts" and to the use of our report dated October 20, 2000 (except for Note 3 as to which the date is December 27, 2000) in the Registration Statement (Form S-1) and related Prospectus of Third Wave Technologies, Inc. dated January 8, 2001. /s/ Ernst & Young LLP Milwaukee, Wisconsin January 5, 2001
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