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Maryland Innovation Initiative: Supporting Innovation and Tech Commercialization

The Maryland Innovation Initiative (MII), administered by TEDCO, recently unveiled a new batch of awardees as part of its ongoing effort to promote the commercialization of technological advancements derived from Maryland's top-tier universities. With more than $2 million allocated across 14 pioneering projects, the initiative underscores its commitment to nurturing the state's innovation ecosystem.

Funding Breakdown

In this latest round, the MII has awarded approximately $1.75 million to eight companies under the Company Formation grants and around $780,000 to six projects in the Technology Assessment category. This funding is designed to support various stages of technological development, from early-stage ideas to more established ventures looking to bring their innovations to market.

According to Dr. Abi Kulshreshtha, the Executive Director of MII, “The MII remains dedicated to supporting the continued growth of our innovation ecosystem.” This sentiment highlights the importance of continued investment in creating pathways for groundbreaking research to transition into commercial applications.

Company Formation Grants

The Company Formation awards are targeted toward technologies licensed from qualifying universities. The eight companies that have secured funding in the latest cycle include:

1. Vascular Rescue Inc. - Focused on advancing the development of automated vascular access.
2. 1104 Health, LLC - Aiming to accelerate access to oncology care options through its Shared Care Platform to enhance health equity.
3. SHARP Diagnostics, Inc. - Developing a platform for enabling single-step molecular assays.
4. Droserix, LLC - Working on commercializing nanoscale electrodes designed for high-resolution neurotransmitter detection.
5. Lithinity, LLC - Pioneering the direct extraction of lithium ions from brine through MOF-polymer membranes.
6. Nodal Therapeutics Inc. - Innovating in immunotherapy for celiac disease.
7. CurveAssure, Inc. - Providing at-home neurological evaluations using smartphone-based assessments.
8. NanoForge Systems Corp. - Crafting handheld devices for nitrate sensing.

Technology Assessment Awards

The Technology Assessment awards are designed to enhance preliminary data over a nine-month period, establishing the commercial viability of various technologies beyond basic research. The six awardees in this category are:

1. Sujatha Kannan - Developing dendrimer-drug therapies targeting obesity and atherosclerosis treatment.
2. Kevin Daniels - Innovating a biological diagnostic system based on epitaxial graphene.
3. Aryya Gangopadhyay - Creating an AI-enabled multi-sensor vest for enhanced situational awareness in critical operations.
4. Ishan Barman - Focusing on digital SERS technology for rapid bioprocess monitoring through deep learning.
5. Jose Ortiz - Automating language assessments to improve diagnosis for bilingual children with developmental language disorder (DLD).
6. Justin Hanes - Working on non-viral gene therapy approaches to treat Parkinson's Disease efficiently.

Impact of the MII

Renée Winsky, the Chair of the MII’s Board, commented, “MII is proud to bring innovation from lab to market.” Since its inception, the MII has significantly impacted the local economy, claiming responsibility for the creation of over 450 jobs, supporting more than 215 startups, and investing upwards of $63 million in innovations throughout Maryland.

The MII operates in collaboration with five major academic research institutions—Johns Hopkins University, Morgan State University, University of Maryland Baltimore, University of Maryland Baltimore County, and University of Maryland College Park—utilizing their combined strengths to foster technological transitions into the market.

Looking Forward

As indicated by TEDCO CEO Troy LeMaile-Stovall, the steadfast focus remains on empowering researchers and innovators across Maryland’s universities. “It is essential that we continue providing avenues for individuals dedicated to supporting the state’s economic development and innovation ecosystem,” he remarked, emphasizing the MII's potential for sustainable growth over the coming years.

Additionally, the MII has broadened its scope to include comprehensive universities and introduced the Baltimore Innovation Initiative (BII), which aims to ensure equity within the innovation and entrepreneurial landscape of Maryland.

For further information regarding the Maryland Innovation Initiative, visit the MII webpage of TEDCO.