TEDCO MD Innovation Initiative unveils two new programs, names Robert Hallenbeck chair

Robert Hallenbeck, the vice president of BD Biosciences, has been named as chair of the Maryland Innovation Initiative, according to the Baltimore Business Journal.

The initiative, created during the 2012 state General Assembly, “will provide early funding for tech transfer efforts at the University Maryland, College Park, the University of Maryland, Baltimore County, the University of Maryland, Baltimore, Johns Hopkins University and Morgan State University,” reports the Baltimore Business Journal. The Maryland Technology Development Corporation, commonly known as TEDCO, administers the innovation initiative.
According to the Baltimore Business Journal, the Maryland Innovation Initiative unveiled its two main programs Monday. From the BBJ article:

• Innovation Discovery Program: provides funding that will enable the schools to engage “Site Miners,” who will be tech commercialization experts responsible for identifying promising technologies and fostering collaborations across departments, schools and institutions to maximize the commercial potential of Maryland’s scientific discoveries.
• Innovation Commercialization Program: provides funding to support the commercialization of the university technologies at three stages: pre-commercial translational research (Phase I), commercialization planning (Phase II) and early-stage product development (Phase III). Under the program, total awards of up to $215,000 will be available to projects taking place at a single qualifying university, while total awards of up to $270,000 will be available to joint applications between one or more qualifying universities. Requests for applications to the program can be accessed at http://www.marylandtedco.org/publications/MDInnovationInitiative.cfm