On the cutting edge of technological research, getting an idea is often the easy part. Actually turning it into a successful product or company can be a bigger challenge.
That’s where external support becomes invaluable. Networking opportunities, access to funding, professional and legal guidance and dedicated office or lab space are all necessary to grow a business.
Organizations dedicated to the development of their local tech economies offer a myriad of resources, programs and initiatives to help innovators become entrepreneurs. Here’s a look at some specific ways that support comes through.
(If you like what you see, follow the links to their Directory Pages to learn more and explore ways to connect.)
Delaware Prosperity Partnership
Delaware Prosperity Partnership (choosedelaware.com) leads Delaware’s efforts to attract, grow and retain businesses; build a stronger entrepreneurial and innovation ecosystem; and support employers in place-marketing Delaware to potential employees.
“Delaware Prosperity Partnership works with large and small businesses to help them identify high-potential opportunities and incentives that support them in their goal to build relevance, spark transformation and fuel sustainable growth for Delaware. This includes location and expansion searches and assistance with applications for funding that can help them grow. DPP also connects existing and prospective businesses with state and local partner organizations to help the companies build their constituencies — which can include investors — and tap into essential human, financial, entrepreneurial, technical and intellectual resources.” — Erica Crell, innovation manager
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TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. We identify, invest in, and help grow technology and life science-based companies in Maryland.
“Maryland Stem Cell Research Fund (MSCRF), established as an independent unit within TEDCO, provides vital support to researchers, scientists and biotech companies through an extensive range of grant programs that span the entire spectrum of technology development in the field of stem cell and regenerative medicine. These resources empower transformative endeavors as well as transitions from fundamental research to the translation of discoveries into pioneering solutions and therapies.
An integral facet of our support lies in the provision of grants to researchers and institutions, enabling pioneering discoveries and technology development in stem cell biology and regenerative medicine. These grants not only provide essential financial backing but also afford researchers the freedom to explore innovative ideas and methodologies that may otherwise remain unexplored. Additionally, we allocate funds to support patent costs, assisting researchers and their technology transfer offices in protecting their innovative technologies and discoveries. We have found that this support is instrumental in acquiring crucial patents, safeguarding inventions, starting new companies and attracting investment for further development and commercialization.
Furthermore, we cultivate collaboration between academic institutions and biotech companies through the provision of additional funds, nurturing a dynamic ecosystem that stimulates innovation and expedites the translation of scientific discoveries into clinical applications. By encouraging collaborations among academia, government and industry stakeholders, we create an environment conducive to innovation and drive the advancement of novel stem cell-based therapies and technologies, ultimately contributing to the improvement of human health and well-being.
For more information about how we can support your research endeavors, visit www.mscrf.org to discover the range of funding programs MSCRF offers and how we can support your stem cell-based technologies and initiatives.” — Ruchika Nijhara, executive director, Maryland Stem Cell Research Fund
University City Science Center
The Science Center is Philadelphia’s premier catalyst of entrepreneurial activity, healthcare innovation and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor and economic development partner for young technology companies.
“Science Center programs are designed to help early-stage companies scale smarter (or fail faster) by addressing unique pain points throughout the startup trajectory that can often go overlooked and unaddressed. Our Founders Fellowship guides entrepreneurs through crucial aspects of successful product development such as IP protection, pricing and regulatory requirements — ensuring that business considerations have equal priority to research. Proof Positive helps founders early in their startup journey to identify and understand their target market and the potential needs of their customers. We offer Small Business Innovation Research (SBIR) Technical and Business Assistance (TABA) services ranging from proposal development, market research support and connections to government agencies and investors. Finally, our Capital Readiness Program prepares digital health and medtech companies to raise their first round from institutional investors.” — Kristen Fitch, senior director of marketing
University of Maryland BioPark
The University of Maryland, Baltimore BioPark offers a dynamic lab and office environment for life science companies, next-gen ventures, university spinouts, distinguished research organizations, cutting-edge clinical care and contemporary workforce training programs.
“The BioPark is a community of innovators that are always asking ‘what next?’ and our goal is to provide them with the support they need to continue advancing their work. Whether that is connecting them with the people and organizations that can help them reach the next step, providing space and facilities or offering financial opportunities that help them grow, the BioPark is positioned to help. We are very excited about a flexible lab suite that will be part of 4MLK. This 34,000 sq. ft. space will integrate shared wet lab facilities and equipment with programming and collaboration opportunities, allowing our early-stage companies to scale-in-place.” — Jane Shaab, executive director, University of Maryland BioPark; associate vice president for economic development, University of Maryland, Baltimore
Want to support innovation in your local tech community? Check out other companies in the Technical.ly network here to find out about their missions, cultures and initiatives.
P.S. If you’re curious about Technical.ly’s services for your own org, find more info here and connect with us.
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This content is a part of Future Research Month of Technical.ly's editorial calendar. The organizations appearing in this article are Technical.ly Ecosystem Builder clients.
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