December 11, 2024
The Henry M. Jackson Foundation for the Advancement of Military Medicine, Inc.’s - HJF Innovation Labs has been selected by Maryland’s Technology Development Corporation (TEDCO) for funding through the Equitech Growth Fund (EGF) for its innovative vision and the potential to make a significant economic impact throughout the state.
The Equitech Growth Fund (EGF), an initiative under Cultivate Maryland, was established to support the economic competitiveness and inclusive growth of emerging and advanced industries in Maryland through the creation of supporting infrastructure assets, resources, and a diverse workforce that builds the strengths of Maryland’s economy.
HJF Innovation Labs, with its distinctive features and strategic location, will foster the growth of startups and contribute to the economic growth of Maryland, addressing specific ecosystem needs that will aid Maryland in achieving the goal of becoming a leading global and inclusive innovation economy by 2040. HJF Innovation Labs is a unique platform that offers affordable and flexible “mini” wet labs, an engineering lab, shared core equipment, and business workspaces.
This flexibility will foster the ability to innovate without a large-scale investment, allowing startups to allocate resources to other critical areas such as maintaining day-to-day operations supporting the growth of emerging biotech and development of dual-use medical technologies for military and civilian medical applications, a much-needed aspect of Maryland’s life sciences sector.
HJF will draw on current and prospective partnerships within the regional technology ecosystem to further support entrepreneur development. These partnerships are crucial to HJF’s mission and will play a significant role in the sustainability and success of HJF Innovation Labs.
- Partnerships with workforce development organizations in Maryland, starting with Workforce Genetics, to develop and host programming and networking events that connect startups in the Innovations Labs with workforce diversity and STEM training programs that can build pipelines for recruiting trained and diverse biotechnology professionals.
- Co-development and implementation of a Founder Recruiting and Training Program to identify and recruit startup founders from under-represented groups, including veterans, women, and Black and Hispanic entrepreneurs. Innovation Labs will reserve a number of residency options to support those startups led by entrepreneurs completing these programs and developing qualified dual-use technologies.
- Fostering a diverse entrepreneurial community by providing educational and business support that is specific to the needs of companies developing medical technologies with civilian and government applications.
Through these objectives, HJF will cultivate a thriving ecosystem for startups in the dual-use medical space, catalyzing their success and contributing significant value to the regional economy. HJF is grateful for the support of the EGF in recognizing the potential of the Innovation Labs and its potential role in building Maryland’s economy.