[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6387599,"mediaKeyId","2116220-93bf3eb7d6c07ba1df4220638a49c7cb","parentId",2116220,"title","Maryland Innovation Initiative plans Baltimore Innovation Initiative to extend commercialization supports to 20 institutions","audioSeconds",423,"startMs",978000,"endMs",1401000,"viewUrl","/Search/View?dp=1&key=2116220-93bf3eb7d6c07ba1df4220638a49c7cb&start=978&end=1401","thumbnailUrl","https://assets.pipeline.soar.com/2116220-93bf3eb7d6c07ba1df4220638a49c7cb/thumbnail_978000.jpg","articleUrl","/articles/6387599/Maryland/Maryland-Innovation-Initiative-plans-Baltimore-Innovation-Initiative-to-extend-commercialization-supports-to-20-institutions","mediaUrl","https://secure.pipeline.soar.com/6387599-fcb90bdb1fe56f25aac8f94473a14831/orig.mp4?Expires=1770977342&Signature=ZPv6OL6Yzj6Po03Dj8bsq-BzKtqYWbVDyOcHFEhwnglCymfnHF6B7KBVqW6vdnKKG2SRt7ndzK9VWMSPJ~JxkmFhB7eX4ZxtezYxSV1uR71PH6W1ESOy7l3yxLxze0OtiWNSFStzCfSpnZ5OuRzfSZ4a2yHYugKaHZHZmqy2J35P7YNv1OK1asNXTs8bARDAboMcV5dRZk9Z3rapGgIbm6kJnBY8yYuERyGpnSP9hNidYFXWlZfwMNTd2IOlDDVOGqM1Q~fBe2w~-kMdr4JKUYAS88nVpNqXusFLOoO4yyaXeWNWCncAmce1TC~1Oh6MoVTdUxa3AOvbCcRNZDCAdA__&Key-Pair-Id=KUT5TJCACFTXG","author","Maryland General Assembly - Ways and Means","date","2025-01-15T00:00:00Z","article","Abid (last name in transcript: Calshrestha) said he joined the Maryland Innovation Initiative (MII) as executive director on July 1, 2024, and described MII’s work to identify university technologies and support commercialization and follow-on investment.

Abid told the Ways and Means Committee on Jan. 15 that MII traditionally works with five research institutions — Johns Hopkins University; University of Maryland College Park; University of Maryland Baltimore County; University of Maryland Baltimore; and Morgan State University — and that the initiative invests roughly $5,000,000 annually in university technologies and startups. He said MII’s investments have produced $800,000,000 in follow-on funding, helped create 200 startups and sustained about 400 jobs, with two-thirds of the follow-on capital from private sources.

Baltimore Innovation Initiative (BII)

Abid described a two-year Baltimore Innovation Initiative (BII) pilot funded through the Baltimore Tech Hub to extend MII’s model to 20 public colleges, universities and community colleges across the Baltimore-Columbia-Towson metropolitan area. He said the BII will support technology development, programming, training and technology-transfer infrastructure and that TEDCO plans a request for applications in February with awards and ongoing support starting in June.

Equity and inclusivity goals

Abid said MII has expanded prior pilots that added Frostburg State and Bowie State University to reach institutions developing nascent research and entrepreneurship programming. He described the BII as a way to broaden access to commercialization resources and to connect nontraditional research institutions, community colleges and teaching colleges to the state’s innovation ecosystem.

Committee engagement and next steps

Abid told legislators he will return with results from the BII and that TEDCO intends to work with campus partners on infrastructure, programming and tech transfer. Committee members asked whether the Bowie/Frostburg pilot should be continued; Abid said MII would welcome continued funding or local support and that the program produced student accelerators and other capacity-building activities on those campuses.

Ending: Abid said he plans to visit partner campuses and report back to the committee on BII implementation and outcomes.","mediaType","Video","parentTitle","W&M Committee Session, 1/15/2025 #1","oneSentenceSummary","Abid (A. Calshrestha), newly appointed executive director of the Maryland Innovation Initiative, described plans to expand MII’s commercialization assistance to 20 public institutions in the Baltimore-Columbia-Towson metro area through a Baltimore Innovation Initiative RFA and technical support starting in mid-2025.","taxTitle","Ways and Means Committee, HOUSE OF REPRESENTATIVES, Committees, Legislative, Maryland","taxId",15064,"location","Maryland","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6387604,"Maryland Stem Cell Research Fund: TEDCO brief highlights clinical progress, economic returns and new manufacturing grants",408,493000,901000,"/Search/View?dp=1&key=2116220-93bf3eb7d6c07ba1df4220638a49c7cb&start=493&end=901","https://assets.pipeline.soar.com/2116220-93bf3eb7d6c07ba1df4220638a49c7cb/thumbnail_493000.jpg","/articles/6387604/Maryland/Maryland-Stem-Cell-Research-Fund-TEDCO-brief-highlights-clinical-progress-economic-returns-and-new-manufacturing-grants","https://secure.pipeline.soar.com/6387604-ea494bafbc439931117a76f53ba87398/orig.mp4?Expires=1770977342&Signature=csgw3Jf1iaY2i06YNwLkCbaVkm-uMdu6FEIBJUfjp2m0ipA0hRCZQvebWkhR4jg-0QrfZf9VJKEJG~w3FEsnBj7PWbUedaiWpcYPzIFhjZoywtVZRTY~p5IOCyQKjW2TeEaenawXelk9FZ-Xwgk6FqBIBab6RsjiXGpf5oZ7hd1UjOGlPttdRr-SE9vd3cxb54AQSmlt-In7zeYOU4GlsLdQ3bSnjXfIxcC2Jy4yK1I7Tqz~qJa3fA2~1qXCQtnM6YhVZzLOGaiM8130nvwchSKWKv3odAvarG-EmVlbNANeERt9SOuiIvYbYskgfhRIsdqe~If-FULEGNY7pe4DaA__&Key-Pair-Id=KUT5TJCACFTXG","Rashika (last name not specified in the transcript), speaking for TEDCO’s stem-cell portfolio, told the Ways and Means Committee on Jan. 15 that Maryland’s stem-cell program has produced clinical advances and measurable economic returns over its 18-year history.

Rashika said the program has played a role in therapies that she described as curative for some patients — she cited bone marrow and half-match transplantation cases and described clinical examples of children who regained normal lives after treatment. \"There are patients who are currently being treated with diabetes and, you know, these treatments are curative treatments,\" she said. She also described gene-editing advances: \"With this gene editing technique called CRISPR, FDA approved last year a treatment where... you fix that gene, and put that treatment these cells back into the patient.\" (Transcript attribution: Rashika.)

Numbers presented by TEDCO

Rashika summarized program-level funding and outcomes the committee was given: she said that from fiscal 2007 through 2024 the stem-cell program received $208,000,000 in investment and that TEDCO’s internal figures show $524,000,000 in economic activity, $200,000,000 in labor income and $19,000,000 in taxes generated. She said the program’s seed investments produced a reported $135,000,000 in return on approximately $10,000,000 invested in companies in the last six years (a figure she summarized as a 13x return).

Manufacturing and commercialization

Rashika told the committee TEDCO launched a Manufacturing Assistance Program in 2023 to help clinical-stage life-science companies scale manufacturing and remain in Maryland. She said TEDCO has invested $3.2 million to date in the Manufacturing Assistance Program. As an example, she cited Reprocell (Bellsville/Prince George’s County), which TEDCO staff later said received a manufacturing assistance award this past year to build local capacity and hire staff. TEDCO said some companies supported by the stem-cell portfolio now derive 80% of revenue from outside the state.

What the committee asked and TEDCO’s clarifications

Legislators asked whether any stem-cell treatments for paralysis or other serious conditions had reached the clinic. TEDCO responded that many studies are under way but, for paralysis specifically, \"as of now, nothing has reached clinic\" according to TEDCO staff (transcript attribution: Rashika).

On sickle-cell disease, TEDCO staff highlighted two treatment paths discussed in the briefing: stem-cell (bone marrow/half-match transplantation) approaches and gene-editing (CRISPR) therapies. Rashika said a patient supported by the program obtained curative treatment via transplantation; she also described the CRISPR gene-editing approach and said the FDA approved a relevant treatment last year. (Transcript attribution: Rashika.)

Careful note on claims

The presentation included clinical examples offered by TEDCO staff and program proponents. The article reports those statements as described to the committee; it does not independently verify clinical outcomes or regulatory status beyond what TEDCO cited in the briefing. Committee members asked follow-up questions about clinical status and TEDCO specialists responded that some indications have active trials and that wider clinical adoption varies by indication.

Ending: TEDCO officials told the committee they expect stem-cell–related manufacturing and clinical work to expand in Maryland and that the Manufacturing Assistance Program is intended to support that scale-up while retaining companies in-state.","At the Jan. 15 Ways and Means briefing, TEDCO representatives described the Maryland Stem Cell Research Fund’s clinical advances, claimed economic returns on state investments and a 2023 Manufacturing Assistance initiative to help stem-cell companies scale in Maryland.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":80,"_45":92,"_47":93,"_49":83,"_51":94,"_53":95,"_55":56,"_57":58,"_59":96,"_61":62,"_63":64,"_65":97,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6387609,"TEDCO tells Ways and Means its programs are driving jobs, entrepreneurship and new manufacturing projects in Maryland",1339,1832000,"/Search/View?dp=1&key=2116220-93bf3eb7d6c07ba1df4220638a49c7cb&start=493&end=1832","/articles/6387609/Maryland/TEDCO-tells-Ways-and-Means-its-programs-are-driving-jobs-entrepreneurship-and-new-manufacturing-projects-in-Maryland","https://secure.pipeline.soar.com/6387609-449814edfcbd83d20b6ebd325a794200/orig.mp4?Expires=1770977342&Signature=QQu0WAhFwFARfCG-foxczzq8HI2rNIe0tmIktF1AFIXIXptFkN5abM-qvLafCfwBVgeuZOaaJLJ5QpXftbTE0QwZqGOKvHT1-dkjntUkOPY7o1s3XktZ1rP30tyathqywLsYd-RZwm31-aDEfu3YzfOXlHzVDcCE8jPwPbwqSKh4YjVhDMKW~S5TNbrvNAoOgvRnoGbLdLSfvkLa9xQ75T3L0jCoteeevefM1Z8swsRAWA2pRemLARA2SyS6dEGBif0KGqWEoT434prN~xtE5GBtgHjy3-g2Ubwv9HYqrx0doD8GXac7YuqpWjVbTYUNhGHsz26hTMpEnKOFkyUu~Q__&Key-Pair-Id=KUT5TJCACFTXG","Troy Lamel Stovall, CEO of the Maryland Technology Development Corporation (TEDCO), told the Ways and Means Committee on Jan. 15 that TEDCO’s work in 2024 expanded programs designed to move university and early-stage research into market-ready products, increase manufacturing capacity in the state and create higher-wage jobs.

Stovall said TEDCO’s programs and investments have produced “about $2,700,000,000” in measured economic impact and that figure is “understated,” adding that TEDCO has a track record of clean audits and is focused on being a good steward of state and federal funds. “These are the individuals that are touching our entrepreneurs, these are the people that are touching our innovators,” Stovall said, describing TEDCO as acting as “one” gateway for entrepreneurs entering the state ecosystem.

TEDCO highlighted several initiatives it said were developed or scaled in 2023–24: the Equitec Growth Fund, EcoTech Growth Fund, a concept-capital pilot, maker-space investments targeted to underserved communities, Cyber Maryland workforce work and a Manufacturing Assistance program for life-science companies.

Why it matters: TEDCO framed these programs as part of a strategy to translate Maryland research institutions’ work into startups, regional manufacturing and higher-paying jobs that do not always require four-year degrees. Stovall said TEDCO’s investments aim to create roles paying “$80,000 to $90,000 a year” and to keep firms and jobs in Maryland as technologies scale.

Most significant program details

- Equitec Growth Fund and awards: Stovall thanked the committee for providing $5 million in funding over nine years for an EcoTech/Equitec initiative. TEDCO received 75 applications for the initial round and awarded 14 projects, distributing $7 million across infrastructure and workforce opportunities, he said. TEDCO described those awards as seed or “stitching” investments intended to attract additional sustained funding.

- EcoTech Growth Fund and maker spaces: TEDCO described an effort to place maker-space resources in communities that lack them and said the maker-space initiative has entered a second tranche of awards intended to expand local infrastructure.

- Concept capital pilot and Prince George’s County: TEDCO said it launched a small “concept capital” competition funded internally that awarded five small grants (top award $50,000; others $25,000) and is piloting a Prince George’s County–focused tranche. Stovall said TEDCO is also convening angel investors to partner with small awards to help entrepreneurs become venture-ready.

- Manufacturing Assistance Program: TEDCO said it launched a Manufacturing Assistance grant program in 2023 aimed at helping life-science companies scale production and keep facilities in Maryland. TEDCO reported $3.2 million invested so far through the Manufacturing Assistance Program and cited Reprocell (Prince George’s County/Bellsville) as a recent grantee that used manufacturing funds to establish a facility and hire locally.

Committee questions and TEDCO responses

Committee members asked about common barriers facing early-stage companies. Stovall emphasized TEDCO’s role at “very early stage” venture development: founders need customer discovery, business plans, team-building and coaching. He said the state lacks early-stage capital beyond TEDCO and that many entrepreneurs are first-timers who need “hand-holding.”

Legislators also asked about local outreach and access. Stovall acknowledged gaps: TEDCO has not fully reached some communities (he specifically named the Hispanic community) and said outreach and marketing remain resourcing priorities. He said TEDCO has raised allocations and programs aimed at increasing participation by women, people of color and rural entrepreneurs and that since his tenure roughly half of TEDCO’s deals and dollar value have gone to founders who are women, people of color or from rural areas.

Ending: Stovall closed by thanking the committee for its support and saying TEDCO stands ready for questions and further engagement. He invited committee members to follow-up visits and discussions about local pilots and federal-lab engagement work.","TEDCO CEO Troy L. Stovall briefed the Ways and Means Committee on Jan. 15, outlining TEDCO’s 2024 activity, economic-impact estimates and new program investments including the Equitec Growth Fund, EcoTech Growth Fund, maker-space grants, Cyber Maryland and a concept-capital pilot for Prince George’s County.","actionData","errors"]

Article not found

Maryland Innovation Initiative plans Baltimore Innovation Initiative to extend commercialization supports to 20 institutions

Maryland Stem Cell Research Fund: TEDCO brief highlights clinical progress, economic returns and new manufacturing grants

TEDCO tells Ways and Means its programs are driving jobs, entrepreneurship and new manufacturing projects in Maryland