The Maryland Technology Development Corp. has awarded a dozen Maryland researchers nearly $500,000 in grants to further their work in technology development. These grants were made through two of TEDCO's programs, the University Technology Development Fund and TechStart.
Technology researchers from the Johns Hopkins Applied Physics Laboratory, Johns Hopkins University, Salisbury University and Towson University each received up to $50,000 in technology development funding. Teams from the University of Maryland, Baltimore, University of Maryland College Park and Johns Hopkins University each received up to $15,000 in funding from the TechStart program.
The technology development aims to help researchers develop and assess the commercial viability of new inventions, test prototypes and perfect research designs. Since the inception of the UTDF program, 95 projects have been completed and 43 have been licensed or optioned to private companies. The projects have launched 29 Maryland start-ups.
The TechStart program provides funding to university and federal lab-based teams that include an inventor who can evaluate the feasibility of a start-up, an experienced entrepreneur to provide business guidance and a technology transfer manager. TechStart was started in 2007 and has completed 29 projects resulting in 20 new tech start-ups.
Five new start-ups have been launched as a result of this round of funding awards. These new companies include BOSS Medical, CervoCheck, Clear Guide Medical, Lifelong Technologies and NexImmune.
Source: TEDCO
Writer: Amy McNeal