Doubling Down on Baltimore’s Tech Momentum!
It has been a month since we learned of the Baltimore MSA not receiving implementation funding in this latest round of the EDA’s Tech Hubs program. But fear not! With UpRise and OneMaryland underway (read more about these projects below) and 95% of the funding for Tech Hubs still to be awarded in early 2025 and 2027, the consortium, led by GBC with UpSurge as both a project lead and ecosystem partner, continues to put itself in a strong position for the bigger prizes still to come and Baltimore continues to show exciting momentum…
According to Genetic Engineering News, the Bio-Health Capital (DC-Virginia – Maryland) region retained its #3 spot among the Top Biopharma Clusters in the country. This region encompasses more than 1,800 life sciences companies, over 70 federal labs and world class academic and research institutions. Maryland is an undeniable force within the Healthcare and Life Sciences space and the Baltimore MSA plays a huge role in that success. Some notable healthcare innovations and wins that the ecosystem has seen this year include:
- QIAGEN and Frederick County, MD, officials on July 12 announced completion of a 40,000-square-foot expansion of the company’s Frederick, MD, facility, creating a 75,000-square-foot site focused on next-generation sequencing, genomics, clinical healthcare, and forensics.
- AstraZeneca invested $300 million in a new manufacturing facility in Rockville, MD, with plans to create 150 new jobs when the site opens in 2026.
- InfinityBio opened their new 9,000-square-foot lab in East Baltimore after their $4.5M raise earlier this year!
- Scene Health recognized by Rock Health as a Top 50 Digital Health Honoree in the public health category! They also expanded their partnership with CareFirst BCBS to revolutionize Medicaid care with an innovative MedEngagement Program!
- Backpack Healthcare recently raised a Series A round of $14M!
- Neurava secured a $2M seed round to continue the development of its wearable technology.
- CoapTech launched 2nd-Gen magnetic balloon catheter: milestone achieved with historic 1st bedside use at UM BWMC!
- Materic selected for a $10 million award to manufacture fuel cell diffusion layers!
- b.well Connected Health secured a $40M Series C investment from Leavitt Equity Partners!
- Astek Diagnostics secured a strategic partnership with MedStar Health!
- Forte, a mental wellness startup, raised $3.3 million to launch an expansion push in a round led by Tom Blaisdell, Founder & CEO, AlignPact Inc.
- Nava Health went public in $320M merger with 99 Acquisition Group Inc, a SPAC
- Research from payroll provider ADP ranked Baltimore as the 2nd best metro city for new college grads!
And there are undoubtedly many more that we can include!
As part of our bid for the next round funding from the EDA, the Baltimore Tech Hub consortium is implementing these 5 key projects:
- Biomanufacturing Core: Baltimore’s leadership in life sciences, biomanufacturing for defense, and data analytics can be combined to achieve global competitiveness, national models for bio-manufacturing excellence, and improved economics by onshoring manufacturing and enabling well-paying manufacturing jobs.
- Anchor Innovation Hub: The Anchor Innovation Hub will mobilize the region’s assets to catalyze biotech commercialization across diverse groups of entrepreneurs and startups, within the early stages of the biotech and AI/ML commercialization lifecycle.
- UpRise for Equitech: UpRise for Equitech will cultivate a pipeline of ready startups across sectors, including life sciences and AI, and build investor and customer networks that attract local and national investment and contracts.
- OneMaryland: A data-interoperability partnership creating a foundation for a FHIR-API economy that makes healthcare data available to entrepreneurs.
- Baltimore Biotech Jobs Initiative: The Baltimore Biotech Jobs Initiative will create a “cradle to career” pipeline for biomanufacturing, biotechnology, and AI. It focuses on recruiting, training, and placing underserved individuals in high-mobility job opportunities.
- Establishing Regional Innovation Office: The Innovation Office will oversee the Hub’s innovation agenda, providing the essential leadership and governance needed for effective and scalable cross-institutional collaboration.
With many of these exciting projects underway, now is the time for industry leaders to step up and show their support, for our regional corporations to align their goals and teams and show their commitment to the Baltimore Tech Hub by investing in this work and the future of innovation in our region. At UpSurge, we will continue elevating and highlighting these successes in our newsletter and hope that these wins culminate in unlocking the funding for Phase 3 for our shining ecosystem. And, we urge you as an ecosystem leader, community member, founder…to join us in catapulting our ecosystem to new heights!
