TEDCO Announces Federal Lab Leveraging Innovation to Products Pilot Program

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Apr 11, 2024, 12:16 ET

Senators Cardin and Van Hollen requested more than $1 million to fund this new program

COLUMBIA, Md., April 11, 2024 /PRNewswire/ -- TEDCO, Maryland's economic engine for technology companies, has received $1,150,000 in Congressionally Directed Spending to advance its Federal Lab Leveraging Innovation to Products (FLLIP) Pilot Program. The direct spending request was sponsored by U.S. Senators Ben Cardin and Chris Van Hollen (D-Md.) and included in the Fiscal Year 2024 Financial Services and General Government funding bill, which was signed into law last month as part of a FY24 appropriations package.

"Maryland is home to more than 70 federal labs, from the NIH in Silver Spring to the Frederick National Lab for Cancer Research and the Army Medical Research and Development Command," said Senator Cardin. "With this federal investment, we're making it easier for traditionally underserved businesses in the healthcare industry to take full advantage of the resources right in their backyard. Community partnerships like the FLLIP Program drive innovation in the state and help build a more equitable, prepared and developed health care system."

The FLLIP Pilot Program will be a collaborative effort between TEDCO and the Frederick Innovation Technology Center, Inc. (FITCI) to address the challenge of helping entrepreneurs and small businesses approach and navigate federal laboratories to allow for collaborations that will enable entrepreneurs to develop innovative solutions for healthcare challenges and grow their businesses.

"To strengthen Maryland's small businesses, we must remove barriers and help entrepreneurs access the resources and support they need to succeed. That's why we fought to deliver this $1,150,000 direct federal investment in TEDCO's FLLIP Pilot Program – to unlock new innovation opportunities for emerging businesses to access the expertise of Maryland-based federal labs as they work to uncover lifesaving discoveries," said Senator Van Hollen, the chairman of the Appropriations Subcommittee on Financial Services & General Government.

TEDCO continues to be an influential entity in Maryland, generating $2.7 billion in economic activity across the state, supporting more than 12,000 jobs, and more. A portion of this economic activity can be attributed to the federal programs already in place. These programs, like the SBIR/STTR Proposal Lab and DefTech, show TEDCO's expertise in preparing, promoting and growing such a program like FLLIP.

"This new program fits perfectly within TEDCO's scope," said Troy LeMaile-Stovall, TEDCO CEO. "At TEDCO, we are already collaborating with federal labs, and, with this new program and earmarked funding, we are looking forward to expanding our support to more businesses and entrepreneurial efforts. We greatly appreciate the continual support from both Senator Cardin and Senator Van Hollen as we work to grow and support Maryland's entrepreneurial ecosystem."

FITCI is also well-positioned for these efforts. The organization is located in one of Maryland's Biotech Hubs, surrounded by several key Federal labs including the National Institutes of Health (NIH), the Frederick National Lab, Fort Detrick and the National Cancer Institute (NCI). This strategic location has led the program to success, with contributions of more than $84 million to the local economy and will be an asset for the FLLIP Pilot Program.

"The FLLIP Pilot Program demonstrates TEDCO's ongoing commitment to nurturing early-stage companies by facilitating access to federal laboratories within our State," said Kim Mozingo, TEDCO's director of federal programs. "Through FLLIP, we're poised to catalyze economic growth by transitioning groundbreaking technologies and expertise from the federal to the private sector, addressing both governmental and commercial needs."

About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.

Media Contact
Tammi Thomas, Chief Development & Marketing Officer, TEDCO, [email protected]

SOURCE TEDCO