MD Biz News Covers Hagerstown Technical Innovation Center: Where Passion Meets Purpose

A recent article by Julie Miller of MD Biz News praises the Hagerstown TIC for its commitment to its entrepreneurial member companies. The incubator is the largest in Western Maryland, and manager Janice Riley has said that the incubator’s member companies are out to change the world.

One such company is eLearning Talent, which supports the eLearning needs of companies in a variety of industries, but has a special focus in diabetes education. Founder and CEO Jason Dumois was inspired by his son, who is living with Type 1 Diabetes. Dumois knows that even if he may not be able to find a cure, through eLearning he can “make a difference without being in the medical field”.

To learn more about the Technical Innovation Center, its methods, and its successes since its 2013 launch, visit MD Biz News.

Lenzer to Cultivate UMD Innovation-Based Economic Development Efforts

COLLEGE PARK, Md. – The University of Maryland (UMD) today announced the appointment of Julie Lenzer as Associate Vice President for Economic Development, effective December 12, 2016. Lenzer will also serve as Director of UM Ventures – College Park in the UMD Division of Research.

Lenzer is an award-winning software entrepreneur, ecosystem builder, investor, and educator with a foundation in innovation-based economic development.

Lenzer joins UMD after a two-year appointment at the U.S. Department of Commerce Economic Development Administration, where she was director of the Office of Innovation and Entrepreneurship and senior advisor to U.S. Secretary of Commerce Penny Pritzker. In this role, Lenzer developed and launched the Regional Innovation Strategies program, deploying $40 million in grants across the country over the course of two years. The program was recently recognized as one of President Barack Obama’s Top 10 Actions to Accelerate American Entrepreneurship. Additionally, Lenzer led the successful reorganization and institutionalization of the Office of Innovation and Entrepreneurship within the Economic Development Administration, and as a result was named the U.S. lead for the G20 Innovation Task Force.

“Julie’s remarkable experience and connections will ignite our growing innovation ecosystem,” said University of Maryland President Wallace D. Loh. “She has launched her own enterprises and worked in and out of government to build innovation networks. She has done it all and will do it here.”

Prior to her work in the Commerce Department, Lenzer served as the first leader of the Maryland Center for Entrepreneurship. As executive director, Lenzer built and connected regional entrepreneurial ecosystems and delivered entrepreneurship development and growth programs across complex local, regional and state markets. She is also a founding co-chair of Startup Maryland, which through its statewide bus tour, Pitch Across Maryland, connected innovation communities and increased entrepreneurial success across the state. Recently, Maryland Governor Larry Hogan appointed Lenzer to the Maryland Economic Development Commission.

“The university’s academic and research programs are incredibly strong, and there is a great opportunity for university innovation to flow into the surrounding community, transforming good ideas into economic growth and jobs,” said Lenzer. “I look forward to channeling my most recent experience at the national and international level to benefit my home state of Maryland.”

As Associate Vice President for Economic Development and Director of UM Ventures-College Park, Lenzer will report to the Division of Research and the President’s Office. She will foster and support the development that is currently underway in the UMD Research Park and Greater College Park. She will also promote and facilitate productive, university-wide collaboration to launch startup ventures based upon University intellectual property, as well as maximize synergies between UMD and the University of Maryland, Baltimore (UMB) to leverage strengths of each and encourage technology commercialization.

“Julie’s technology commercialization experience at the regional, state, national, and international level will surely benefit the university’s efforts to bring ideas from the laboratory to the marketplace to help stimulate the regional economy,” said UMD Interim Vice President for Research Amitabh Varshney.

In all of these efforts, Lenzer will foster collaboration between the university’s entrepreneurship and venture creation groups, including the Academy for Innovation and Entrepreneurship, the Maryland Technology Enterprise Institute (Mtech), the Dingman Center for Entrepreneurship, the Center for Philanthropy and Nonprofit Leadership, and the Maryland Small Business and Technology Development Center.

Lenzer is a serial entrepreneur, technology transfer educator, and an active member of the Maryland community. She received the EDA Bronze Award for Excellence in Development, participated in the President Leadership Workshop, and has been recognized as one of Maryland’s Top 100 Women, an Influential Marylander, and a Bisnow Federal Innovator. Lenzer earned a Bachelor of Science in Computer Science from Texas A&M University.

This article originally appeared on UMD Right Now.

TEDCO Invests $1.9 Million in 19 Startups to Support Innovation in Maryland

COLUMBIA, Md. (December 14, 2016) – The Maryland Technology Development Corporation (TEDCO) announced today that 19 companies have received over $1.9 million in funding from the organization’s Seed Investment Fund in the last six months. The funding will be used to advance the companies’ technology and product commercialization efforts.

“TEDCO’s Seed Investment Fund exists to support seed/early-stage, technology-based businesses in Maryland,” said John Wasilisin, president and chief operating officer of TEDCO. “We make investments in these companies to help them reach a critical milestone that will increase the company’s valuation and better position it for follow-on investment, sustainability, growth, and job creation.”

Funds were invested in startups representing a wide range of industries including renewable energy, health care, software, and mobile app development. Companies that received investment funding in the last six months include:

  • Communication APPtitude™, located in Towson, produces iPad and web-based, visual vocabulary apps responding to the need for vocabulary instruction grades K-12.
  • Notice and Comment (N&C), Inc., located in Baltimore, offers solutions that make the government regulatory process more efficient, accessible, and transparent for all participants in the rulemaking process. Regendus, the company’s cognitive analytics SaaS offering – built on IBM’s cutting-edge Watson platform – accelerates regulatory strategic decision making.
  • Manta Biofuel, LLC, located in Baltimore, is engaged in the production of algae based, renewable crude oil that is cost competitive with traditional fossil based crude.
  • Subscribe Pro, Inc., located in Baltimore, enables eCommerce merchants to offer subscription-based ordering of physical consumer goods.
  • Fusiform, Inc., located in Baltimore, is developing software to enable digital fabrication as a viable solution for mass manufacturing across medical and consumer industries.
  • Otomagnetics, LLC, located in Rockville, is developing and commercializing a non-invasive technology to address the unmet need of delivering medications to unreachable targets in the human body.
  • SprintR, LLC, located in Baltimore, is a wireless footpad that lets you easily walk, run, and jump in VR hands free.
  • Lazy, located in Rockville, builds tools to simplify quality measure reporting for clinicians and clinical software vendors.
  • Proscia, Inc., located in Baltimore, is a cloud-delivered solutions provider for digital pathology.
  • ShipLync, located in Columbia, is a platform for the logistics and trade industry.
  • BurnAlong, Inc., located in Baltimore, allows you to workout online (via your computer, tablet, or phone) to a wide-range of classes offered by local trainers, gyms, studios, and celebrity instructors, on your own or live with friends you invite.
  • Fearless Solutions, LLC, located in Baltimore, is a developer of technology solutions for government and commercial markets and has extensive experience building cloud-based, smart, real-time geo-location and geo-alerting systems for the US government for use around the world.
  • Light Point Security, LLC, located in Baltimore, and founded by former NSA cybersecurity experts, is a pioneer and the leading provider of browser isolation solutions to protect enterprises and government agencies from web-based malware.
  • TeamPassword, Inc., located in Baltimore, allows collaborative product teams and agencies to share and manage access to the accounts they use to do their jobs.
  • Untethered Labs, Inc., located in College Park, develops wearable technology-based security solutions to prevent unauthorized access to confidential corporate data.
  • GamersOnline, Inc., located in Columbia, is a sophisticated content and data management platform that cost effectively allows small to medium-size gaming publishers to engage, amplify, analyze, and grow their market segment by distributing gaming content to their anytime, anywhere mobile users.
  • My Quintessential Virtual Office (MyQVO), located in Bowie, is a software tool that immediately gets students better engaged with in class learning and gives each child access to a large network of classmates for on demand help.
  • CourseArc, located in Baltimore, is a digital content creation tool which provides organizations with a marked advantage in the eLearning industry. CourseArc allows anyone to create beautiful, interactive, affordable and accessible online courses.
  • OcuFLOW, Inc. is located in Baltimore. OcuFLOW’s product is a 4th generation pulsatile ocular blood flow analyzer that could provide a solution to managing ocular blood flow, thus delaying the progression of the three most common blinding ocular conditions including aging macular degeneration, diabetic retinopathy and glaucoma.

Seed Investment Fund applicants should use TEDCO’s online submission system, at http://tedco.md/program/seed-funding-program/, to complete a simple application form and attach a short executive summary to initiate the process.  If the business seems to meet TEDCO’s investment criteria, the applicant will be contacted to set-up an initial meeting with members of TEDCO’s Deal Team to discuss the details of the business. For more information on investment terms and application process, please contact McKeever Conwell at mconwell@tedco.md or 410-715-4180.

The Maryland Technology Development Corporation (TEDCO) is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market. For over fifteen years, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. It is frequently ranked as one of the most active seed/early-stage investors in the nation. The organization plays a key role in bringing research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace. For more information on TEDCO and its programs and resources, visit www.TEDCO.md.

Media Contact
Tammi L. Thomas
tthomas@tedco.md
410-715-4162

The VOLT Fund

Small, Minority, Veteran and Women-Owned Business Loan Program

The VOLT Fund is offering loans of $25,000 to $500,000 in the state of Maryland. Partnering AAEDCwith Anne Arundel Economic Development Corporation, Chesapeake Innovation Center, bwtech@UMBC, and Worcester County Economic Development, the funds will be targeted to small businesses within a 10 mile radius of Maryland’s five existing casinos.

The funds can be used for business acquisition, commercial real estate acquisition, building improvements, equipment purchase, leasehold improvements, business start-up costs, and working capital.

The application deadline is 10/31. Click here for more information, or reach out to the program’s contact:

Stephen Primosch – Vice President, Financial Services Anne Arundel Economic Development Corporation (410) 222-7410 • sprimosch@aaedc.org

 

Government Contracting Program Launches at the Chesapeake Innovation Center

Odenton, Maryland (September 9, 2016) – The Chesapeake Innovation Center (CIC) ChesapeakeInnovationCentertoday announced the launch of FedPath, a government contracting workshop series. This hands-on program will help CIC member companies and area technology entrepreneurs enhance their understanding and better compete in the federal government contracting space.  Funding for FedPath is made possible by grant support from the Maryland Technology Development Corporation (TEDCO).

“Emerging technology companies that are new to the government contracting need to better understand economic, programmatic, supply chain, and subcontracting components beyond the Federal Acquisition Regulations (FAR) or procurement codes,” said Michael Tentnowski, Executive Director of the CIC. “We are grateful for TEDCO’s support of FedPath which will help entrepreneurs access the best experts in the field.”

FedPath workshops take place the first Wednesday of every month starting on October 5 from 8:00am to 9:30am.  The first module, “Registering as a Federal Contractor,” features guest presenter Gloria Larkin, Founder of TargetGov and author of “The Basic Guide to Government Contracting” (c) 2015.  Future workshops will cover topics such as federal contracting basics, identification of key decision makers and purchasing agencies, particularly those in national security, successful opportunity searches, bid pricing, reporting requirements and audits.

The Chesapeake Regional Tech Council will serve as a promotional co-sponsor of FedPath, a partnership that will maximize the program’s outreach to entrepreneurs in Maryland. 

FedPath is the latest addition to the CIC’s growing portfolio of programs. Current programs include a monthly Synergy Luncheon for member companies and quarterly events such the TechKNOW workshop and Cyber C-Level Roundtable.

###

ABOUT THE CHESAPEAKE INNOVATION CENTER

As a program of the Anne Arundel Economic Development Corporation, the CIC helps to attract, retain and grow emerging technology companies in Maryland. The CIC is a hybrid incubator and accelerator that provides entrepreneurs with the resources, connections, and programs they need to develop their venture to a financial and business maturity sufficient for independent operation.  Support for the CIC is made possible by generous sponsors such as Tower Federal Credit Union, the Maryland Department of Commerce and the Maryland Technology Development Corporation (TEDCO). For more information, please visit www.cic-tech.org.

Upcoming Deadline for MIPS Research Grants

The Maryland Industrial Partnerships Program (MIPS) provides funding, matched by TechAdvancementparticipating companies, for university-based research projects that help the companies develop new products. The program is administered at the flagship campus at the University of Maryland, College Park, and works throughout the 12 member institutions of the University System of Maryland, plus Morgan State University and St. Mary’s College.  In these academic-industrial, public-private partnerships, MIPS connects the resources of the Maryland public universities to businesses from all parts of Maryland.

With MIPS matching funds, companies can leverage the facilities, resources and expertise within Maryland’s public universities to create new products and opportunities. In the 27 years since the program started, 411 faculty researchers have worked with more than 541 Maryland companies to help develop new products. MIPS-supported products have enabled Maryland companies to directly create more than 6,600 new, high-paying, long-term, high-tech jobs throughout the state.

The next proposal deadline is October 14th. To learn more about the application process and speak to a faculty member, visit mips.umd.edu.

Chesapeake Innovation Center Announces Winners of Startup Technology Competition

 Odenton, Maryland – (July 26, 2016) – Anne Arundel County Executive Steve Schuh ChesapeakeInnovationCenterwelcomed nine new companies to the county’s technology incubator, the Chesapeake Innovation Center (CIC). The companies were winners of the CIC’s recent scholarship competition the Chesapeake Innovation Challenge.  Funding for the competition was made possible with support from the Maryland Department of Commerce.

Mr. Schuh attended the CIC’s monthly Synergy Luncheon, typically billed as an informal get-together for member companies.  He highlighted steps taken by his administration to grow the number of businesses in the county. Mr. Schuh participated in a question and answer session with the entrepreneurs in attendance where his prior experience as an investment banker gave him a unique perspective.

“As Anne Arundel County is the home to Fort Meade and the nation’s cyber security efforts, I am proud to welcome a new cohort of emerging technology companies that will part of our innovation community,” said Mr. Schuh. “I am confident that with the business development guidance offered here at the CIC and the support of resources and connections in the Fort Meade region and around the State of Maryland, these early stage ventures will be able to take significant steps towards success.”

Michael Tentnowski, the CIC Executive Director, commented “The addition of this new round of companies will enhance entrepreneurial activities in the region. These companies will hire new employees, seek local capital, and engage with professional service providers throughout the region.” With the addition of these nine companies to the CIC’s current roster of companies, the center now has 16 companies and continues its specialized incubation of companies developing information and network security solutions.  Eight of the Innovation Challenge winners are cyber-related businesses with a number of the entrepreneurs having government agency experience. Other innovations represented include point-to-point communications, health technologies and a project management platform. Chesapeake Innovation Challenge winners include the following:

D&A Technical Services D&A Technical Services offers engineering and detailing services for fast-paced project completion. 

Decisions Oriented Decisions Oriented is a provider of engineering and consulting services that enhances the decision making experience. The company specializes in the implementation of advanced workflow technologies, DevOps best practices and decision discovery that result in improved organizational perspectives and risk management.

Dysrupts, LLC Dysrupts connects people using mobile devices, without relying on service providers. Its technology offers optimization (faster speeds) as an added value available through paid-for services.

Glacier Security A full-service provider of secure communication solutions for mobile and wired networks.  Glacier software offers confidence that related associations, communications, data, devices and intellectual property are secure and protected. 

Greytek, LLC Greytek provides unique counterintelligence, cyber, and security services for classified government contracts as well as Fortune 50 companies.  The company uses holistic security assessments supporting insider threat programs as well as consultation services supporting the security of government and industry travelers.

KT-Tech Inc. KT-Tech provides efficient, small/fast, symmetric software applications that combine patented compression and feature extraction algorithms.  The technology offers the user secure quality audio/video/imagery in low-latency even from low-powered transmitters over highly congested (narrow-bandwidth) communication channels. 

MEDEX Spot Serving as a convenient access point for primary healthcare provided by leading hospitals offering outpatient services, MEDEX Spot is a developer of private, continuously sanitized, unattended telehealth cabins that will be located in supermarkets, pharmacies, drug store chains, big box stores, and corporate office buildings.

Monos Labs Monos Labs offers computer and software engineering consulting, cyber security consulting, and government solutions consulting.

Ops Tech Alliance OTA provides expert cyber security consulting, mission-focused training, specialized products to government and private industry clients such as cyber and mobile communications security and digital threat assessment software and personal electronic device hardening.

Innovation Challenge winners receive a scholarship up to $3,000 for membership in the CIC.  Members participate in the CIC’s curriculum which offers business development guidance, marketing and research assistance, networking opportunities with regional innovators and investors and use of the center’s new micro 3-D printer.

Member companies also get access to all CIC’s events. In addition to the Synergy Luncheon, member can attend the Cyber C-Level Roundtable, a breakfast for member companies and executives of established companies openly discuss issues affecting the industry, and TechKNOW workshops, quarterly education sessions on various facets of business operations.

Entrepreneurs also benefits from the CIC’s mentors and advisers program which connects member companies with seasoned technology industry leaders and experts in such matters as finance, legal, accounting, sales, marketing and technology assistance.

StartUp Maryland Announces their 2016 Road Show

It’s that time of year again! StartUp Maryland has announced the dates and route of their startup maryland bus2016 STRT1UP Road Show, their 5th annual tour of Maryland that celebrates entrepreneurship and gives startups the opportunity to hone their pitch.

Since the launch of the road show in 2012, more than 1000 Maryland startup companies have participated. Citing the huge variety of industry sectors that Maryland startups have entered, Startup Maryland CEO Michael Binko explains that the STRT1UP Road Show “proudly shines a spotlight on the diversity of our innovation categories and the ecosystem supporting them.

At each stop along the tour, Startup Maryland and their partners and sponsors host rallies and events sharing information about Maryland entrepreneurship. Startups and entrepreneurs are given the chance to step aboard the Startup Maryland bus and pitch their idea in the bus’ mobile studio. The pitches are then uploaded to Startup Maryland’s YouTube channel where the public can view them and vote on their favorites as part of the Pitch Across Maryland competition.

To learn more about Startup Maryland and view dates and stops, visit StartupMD.org.

Economic Alliance of Greater Baltimore and BioHealth Innovation, Inc. Announce Key Findings of BioHealth Index for Central Maryland

BALTIMORE and ROCKVILLE, Md., April 20, 2016 /PRNewswire/ — The Economic Alliance of BioHealthInnovationGreater Baltimore (EAGB) andBioHealth Innovation, Inc. (BHI) officially released the BioHealth Innovation Index for Central Maryland at the Second Annual Regional BioTech Forum, which took place April 18 and 19 in Gaithersburg, Maryland. The Index is a comprehensive analysis of the biohealth industry highlighting the region’s strengths, along with those areas that present opportunity for economic growth.

The Index will serve as a guide for the continued development of Maryland’s booming biohealth region, by pinpointing key opportunities for future growth to accelerate the region to the top three biotech hubs in the U.S. by 2023.

According to BHI CEO Rich Bendis, who also serves on the Governor of Maryland’s Life Sciences Advisory Board, “This index both confirms the region’s standing, while also shedding light on what it will take to raise our spot among the top three biotech/biohealth hotbeds in the country. Our region is attracting new and innovative companies at unprecedented speeds. This Index reflects such innovation occurring in Greater Baltimore and Central Maryland, and provides a platform on which to develop a strategic analysis relevant to other U.S. markets such as Boston, New York, Philadelphia, Pittsburgh, Raleigh-Durham, San Diego and San Francisco.”

The Index reveals that the Greater Baltimore and Central Maryland region has laid a strong foundation for the biohealth industry. The opportunity exists for professionals in the region’s industry to capitalize on the market’s leadership in early-stage research and development to commercialize more novel technologies and build more robust ecosystems that generates new companies and jobs. Other key findings from the Index include:

  • Concentration of Workers & Level of Education: The region has 19 percent more BioHealth workers than average and is tied with New York for #1 among peer markets.
  • R&D: The region has three times the average of R&D professionals.
    • Hopkins receives the second most funding in the U.S. for life sciences R&D.
    • Universities in Greater Baltimore receive more than $1.7 billion in BioHealth R&D, the second greatest expenditure among peer markets.
  • Capital:$1.06 billion in venture investment in BioHealth from 2010-2014.
  • Entrepreneurship:Maryland ranks seventh in start-up efficiency with an average of more than $140 million of federal research required to generate one startup.

“This region has become a significant biohealth/biotech cluster. With most of the world-class health institutions and universities in our backyard, it offers a unique location for the expansion of continued biohealth innovation. The fact we are ranked number one in the concentration of talent serves as a tremendous launching point as we endeavor to become a top three market in the U.S.,” states EAGB CEO Tom Sadowski.

The region is home to key biohealth assets like Johns Hopkins University and the University System of Maryland, 70 federal research facilities including the National Institutes of Health, and more than 800 life sciences companies. As a result, Central Maryland’s BioHealth workforce is substantial and densely concentrated. Recently, more programs have launched to encourage more commercialization of technology, and life sciences companies like WellDoc have had success with IPOs and raising venture capital.

The Economic Alliance, BHI and Johns Hopkins University were catalysts for forming the first health technology accelerator program, DreamIt Health in Baltimore to capture the significant opportunity for startups in the city. DreamIt Health Baltimore supported two successful cohorts of 15 companies, helping them pilot implementation projects, identify customers and investors, and in some cases, open office space in Baltimore.  Successful companies that have spun out of DreamIt include Protenus, Avhana and Sisu Global Health.

Additionally, BHI has designed other strategies to enhance the local biohealth ecosystem. BHI has built the first of its kind partnership to place Entrepreneurs-In-Residence within the National Institutes of Health. It has supported the creation, spin-off or progression of 45 regional biohealth startups and early-stage companies in less than four years since the organization formed in 2012.

BHI also invested in Montgomery County’s first health tech accelerator, Relevant Health that graduated its cohort of companies in March.

The full BioHealth Innovation Index for Central Maryland can be found at: http://www.greaterbaltimore.org/biohealth.aspx

Read the full press release at PR Newswire.