Press Releases

December 2012

Maryland Innovation Initiative Awards Funding to First Three Research Projects

Orthopedic company and two Johns Hopkins researchers awarded nearly $300,000
to bring innovative medical devices to market

COLUMBIA, Md. (Dec. 19, 2012) – The Maryland Innovation Initiative (MII), which accelerates commercialization and technology transfer from university labs to start-up companies, announced its first three awards today, totaling $299,678. These three awards were given to BOSS Medical LLC, a university start-up company, and two Johns Hopkins University faculty members. The three awards were given through the Innovation Commercialization Program, which provides funding to support the commercialization of qualified university technologies at three distinct stages: pre-commercial translational research (Phase I), commercialization planning (Phase II) and early-stage product development (Phase III).

To continue its work on a device for minimally-invasive bone graft surgery, BOSS was approved to receive a $99,860 award. The second award, which totaled $99,818, will assist Dr. Edith Gurewitsch Allen, associate professor of gynecology/obstetrics, division of maternal fetal medicine at Johns Hopkins University School of Medicine with research surrounding an umbilical cord blood collection device. The final award, in the amount of $100,000, was given to Dr. Kieren A. Marr, professor of medicine at Johns Hopkins University School of Medicine, to research a new point-of-care diagnostic device for lung infections.

“Maryland is full of innovative researchers who are on the cutting edge of technologies that will change lives, and in some cases, save them. The first round of Maryland Innovation Initiative awards went to a deserving company and university, both of whom embody the entrepreneurial spirit,” said Governor Martin O’Malley. “This is just the beginning of the program’s work, and I am confident these investments will help boost our State’s technology-driven economic development and show the rest of the country how Maryland universities are turning research into marketable products.”

“The first round of proposals that the Maryland Innovation Initiative board of directors reviewed highlighted the strength of researchers and entrepreneurs in the State,” said Robert Hallenbeck, MII chair. “We look forward to seeing the development of these technologies and awarding funds to additional Maryland researchers and start-up companies.”

The MII program was created as a partnership between the State of Maryland and five Maryland academic research institutions: University of Maryland, College Park; University of Maryland, Baltimore County; University of Maryland, Baltimore; Johns Hopkins University; and Morgan State University. The program is designed to promote commercialization of research conducted in the partnership universities and leverage each institution’s strengths. Applications are currently being accepted and are reviewed on a monthly basis. Further information is available at http://tedco.md/program/the-maryland-innovation-initiative-mii/.

Maryland Innovation Initiative (MII)
Created by the General Assembly and administered by the Maryland Technology Development Corporation (TEDCO), the Maryland Innovation Initiative (MII) promotes the commercialization of research conducted in five qualifying Maryland universities. The initiative encourages universities to partner on commercialization proposals, strategies, and funding sources. The MII program facilitates technology transfer from university labs to start-up companies and boosts economic development in Maryland. The MII program has a $5.8 million budget for FY 2013.

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 more than a decade, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments and manages private capital for angel and venture capital funds. 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.