TEDCO’s Maryland Innovation Initiative has awarded $6.4 million in grants to 67 commercialization and startup projects so far this year, state officials announced Wednesday.
“The momentum we’ve seen around the Maryland Innovation Initiative in the last fiscal year is a testament to the quality of the work done at our State’s top-notch research universities, widely considered among the best in the country,” Gov. Martin O’Malley said in a release. “The program is designed to help bring university technologies to market.”
The initiative is a partnership between state government (which backs TEDCO) and five area research institutions: University of Maryland; University of Maryland, Baltimore County; University of Maryland, Baltimore; Johns Hopkins University; and Morgan State University. The initiative aims to commercialize institutional research. More than 200 applications have been submitted for grants since 2012, according to the release.
Baltimore companies funded through the initiative include healthcare startups emocha Mobile Health, Harpoon Medical, and respeQ. Dozens of university projects have also been funded through the program.
The $6.4 million represents the lion’s share of the more than $9 million the fund has distributed since grants began last year.
Applications and guidelines are available on TEDCO’s website and are reviewed bimonthly.-30-