Biohealth Innovation
U.S. companies pulled in $9.5 billion in venture funding in the first three months of 2014, the highest quarterly total since the second quarter of 2001.
But the wealth was not spread evenly. The nation's three top venture markets, New York, New England and Silicon Valley, accounted for more than two-thirds of that figure. The D.C. region, meanwhile, saw a worrisome dip in venture funding compared with the same period last year.
To say there has been change in the health care industry is an understatement. Sweeping national reform and a major shift in the way Maryland hospitals are paid are dramatically overhauling how business is done. Regardless of where you stand on Obamacare and Maryland’s Medicare waiver, you can’t ignore that reform and technology are creating lots of opportunities for innovation in a field that for too long accepted the status quo.
That’s why the Baltimore Business Journal is recognizing those innovators who are creating new health care products and strategies — whether it’s a medical device, new drug, software or a system to improve safety at the region’s hospitals. We’re looking for people and companies that are doing amazing work developing ways to make health care even more accessible, efficient and effective.
The winners of the BBJ’s 2014 Health Care Innovators will be judged for strong ideas, results and vision in several categories. Tell us why you think an innovative technology, strategy or product should be honored. How has it improved the way business is done or health care is delivered? The winners will be featured in the Nov. 7 Baltimore Business Journal and will be recognized at a special event. The BBJ will convene a panel of judges to determine the winners in the following categories:
DATE March 13, 2014 • TIME 8:00am - 4:30pm • LOCATION Nelson Mullins 101 Constitution Ave NW, Ste. 900 Washington, DC
The HealthTechNet Investor Day matches entrepreneurs and investors in a series of 30-minute meetings. There are no speakers and no panels, just individual meetings between entrepreneurs and investors. To register, fill out the the form below by Friday, February 14.
Companies and investors must register below. If you have questions, please email Jessica Straus at This email address is being protected from spambots. You need JavaScript enabled to view it..
February 3 and 4, 2014, 8:00pm ET/5:00pm PT
About the Workshop: Now on its ninth run, the NIH SBIR Phase I Program for First-Time Applicants is a very practical step-by-step, four-hour online "How-To" workshop over two evenings to help researchers, faculty members, graduate students, post-docs and entrepreneurs create a SBIR company and apply to the NIH SBIR program in April of 2014. This workshop includes a post-course review of the applicant's proposed SBIR application by our experts before submission to the NIH. As an added benefit, your SBIR companies will be included on NCET2's newsletters that is sent out to VCs, angel investors, Global 1000 companies, and government funders.
About the SBIR Program: The NIH SBIR/STTR program is one of the federal government's best mechanisms to continue funding innovative life science research after traditional research funding has been exhausted. The objective of the program is to dramatically increase the impact of innovations derived from original federally funded R&D, and as such is an ideal program to fund university commercialization of research through new university/faculty/student startup companies. Phase I can be for up to $150,000 for 6 months. Phase II can be for up to $1 million for 2 years. After Phase I and II, the company should have eliminated enough technical and scientific risk of the original research that the company is ready for outside investor funding or product sales in the company sustainability final Phase III of the SBIR program.
“The world is shifting to an innovation economy and nobody does innovation better than America.”
—President Obama, December 6, 2011
Economic activity that is fueled by research and innovation in the biological sciences, the “bioeconomy,” is a large and rapidly growing segment of the world economy that provides substantial public benefit. The bioeconomy has emerged as an Obama Administration priority because of its tremendous potential for growth as well as the many other societal benefits it offers. It can allow Americans to live longer, healthier lives, reduce our dependence on oil, address key environmental challenges, transform manu- facturing processes, and increase the productivity and scope of the agricultural sector while growing new jobs and industries.
On Tuesday, January 7th from 4-7 pm there will be an open house for the spring courses in the “Advanced Studies in Technology Transfer” certificate program at the FAES Graduate School at NIH in the new FAES Classroom & Bookstore complex in Building 10 / B1 level. For the semester beginning on January 27th there will be 10 courses available with enrollment open to the general community:
More details can be found in the spring 2014 course catalog supplement (www.faes.org). Course credit is transferable as well into various MBA & MS degree programs at the University of Maryland University College (UMUC) Graduate School as well as the new Master of Biotechnology Enterprise and Entrepreneurship degree program at Johns Hopkins University.
The “family histories” of Maryland technology companies are intertwined stories of entrepreneurs, technologies, and corporate structure. This project has focused on the pathways taken by the people who founded the technology companies operating in Maryland today. But it has also been necessary to study corpora- tions that have grown and shrunk, restructured or moved away, and merged or spun off; as well as successive generations of technology development in core fields like vaccines, genomics, and optics. The results will help the state refine its marketing to both companies and potential entrepreneurs and better under- stand and capitalize on its research institutions and other tech- nology generators. The Milken Institute’s 2001 survey ranked Maryland fifth overall in its ratings of states best positioned to take advantage of opportunities for growth in the New Economy, based on high scores in educational attainment, R&D, and capital availability. It is clear from this study that these same strong fundamentals have been providing fertile soil for technology entrepreneurship for 25, 50, and sometimes 100 years.
Millennial Media, WeddingWire and RainKing Solutions led the list of Maryland companies making the 2013 Deloitte Technology Fast 500, a prestigious technology awards program in United States and Canada. Among Maryland’s eight repeat companies, United Therapeutics Corporation is on the list for the 13th straight year and Zenoss is on the list for the third straight year.
Overall, there were 15 Maryland companies on the list, up from 12 in 2012. Maryland’s 15 companies were the eighth most among states/provinces. California far outpaced other states with 166 companies, with Massachusetts, Ontario, New York, Washington and Pennsylvania following. Virginia had 16 companies on the list for the seventh most among states/provinces.
“We can’t afford to rest on our laurels” was the message County Executive Ike Leggett delivered as he received a bold new bioscience strategy designed to position Montgomery County as a “globally recognized leader in advancing bioscience research and development, and in translating scientific discoveries into commercially available products that benefit human health.” The strategy was developed by the Biosciences Task Force, formed by Leggett in October 2008.
Joining the Executive in the announcement were Montgomery County Biosciences Task Force Chair David Mott, members of the County Council, Montgomery County Department of Economic Development Director Steve Silverman, members of the Task Force, and public and private sector stakeholders from the local biotech community.
With the one of the largest clusters of bioscience companies in the U.S., Maryland is a global leader in research and development in the life sciences. In 1991, Maryland was the first state to create a strategic plan for the growth of its life sciences industry. Two others strategic plans followed.
To maintain its position as a global leader, the Maryland legislature and Governor Martin O’Malley created the Life Sciences Advisory Board in 2007. This board is composed of 15 representatives from industry, academia, the federal facilities in Maryland, in addition to economic development representatives and others.
Nineteen of the 500 fastest growing private companies in America are in Maryland. The 2013 Inc. 500/5000 is ranked according to percentage revenue growth for 2009 to 2012 and companies are selected based on revenues of at least $2 million. The full list of the 5000 fastest growing companies includes 131 based in Maryland. The Maryland companies averaged $25.2M in revenues and 3-year revenue growth of nearly 500%. New to the list this year at #41 is NSR Solutions in Rockville. WeLocalize (left) of Frederick made the list for the 9th year.
Today, the Commerce Department and the White House sent to Congress the Administration’s plan on The Competitiveness and Innovative Capacity of the United States, fulfilling an important requirement under the America COMPETES Reauthorization Act of 2010 which President Obama signed into law one year ago this month.
As the report emphasizes, innovation has been a key driver of U.S. prosperity and competitiveness throughout our history. Government investments in the building blocks of innovation – basic research, education, and infrastructure – have helped fuel and sustain the ingenuity of the inventors and innovators. Innovation-based economic growth has brought us higher paying, higher quality jobs as well as improved health and quality of life. Federally-supported research has led to world-changing advancements in a variety of fields, including laying the groundwork for the integrated circuit and computer industry; the Internet; advances in chemicals, agriculture, and medical science; and GPS. Millions of workers can trace their industries and companies back to technological breakthroughs funded by the Federal government.
