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The Economic Alliance of Greater Baltimore has won a federal grant to promote biotech jobs.
The Economic Alliance of Greater Baltimore has received a $520,000 federal grant to bolster the state's biotechnology industry.
The Economic Alliance of Greater Baltimore (EAGB) will work with BioHealth Innovation in Montgomery County to develop a ?Healthcare Regional Innovation Cluster? with the grant. The grant was awarded by the U.S. Department of Commerce?s Economic Development Administration.
The innovation cluster will be an effort to better coordinate existing medical technology resources and expand services to improve the flow from research labs to the commercial market. Better connecting the state's research institutions and federal assets, such as the National Institutes of Health and National Institute of Standards and Technology, will be a core goal.
?Medical research is our best hope for finding cures and improving treatment, but it?s also essential to Maryland?s economy,? Congressman C.A. Dutch Ruppersberger said in a statement. ?This grant is a common sense public investment in jobs and community that will help even more Maryland families support themselves.?
The federal grant will build on an existing partnership between EAGB and BioHealth Innovation, said EAGB CEO J. Thomas Sadowski.
With the grant, the two groups will try to take inventory of the state's existing health care, research and biotech resources in order to identify gaps and needs.
The grant will also be used to help scientists determine if their research could have commercial relevance and help them move their research to market, Sadowski said.
A health IT accelerator is also in the works as part of the grant. EAGB expects to release more details about the accelerator program in a few weeks.
Sarah covers health care, higher education, biotech and technology.
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