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Technology Entrepreneurship

 

 
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Technology Entrepreneurship

The Maryland Industrial Partnerships (MIPS) program received a $1 million base budget funding increase from the state of Maryland, almost doubling the program’s operating budget. MIPS brings university innovation to the commercial sector by supporting faculty research projects to help Maryland companies develop technology-based products. The program supports an average of 32 projects yearly; the increase will enable up to 22 additional projects each year. A new test for oral cancer, a treatment for esophageal cancer, a drug to stop rheumatoid arthritis, and new tools for digital forensics were among 14 projects recently approved for funding by MIPS.

The Maryland Technology Extension Service (MTES), which offers manufacturing solutions to Maryland companies, has had a $97.2 million economic impact from January 2000 through December 2005. MTES has assisted Maryland manufacturers in: increasing sales by $18.3 million; retaining sales by $54.5 million; saving $5.8 million in costs; saving $1.2 million in investments; avoiding $8.8 million in investments; and increasing plant or equipment investment by $8.6 million.

MTECH Ventures, the Clark School’s initiative to provide technology-based entrepreneurship education and deliver a portfolio of services and resources to entrepreneurs, recently hosted its sixth annual University of Maryland $50K Business Plan Competition, launched by alumnus Brian Hinman. Winning companies are developing two-dimensional barcodes and authenticity marks, an Internet-based electronic receipts system and an online training facility for Web-based marketing. MTECH Ventures is offering its “Fundamentals of Start-up Ventures” course in two new summer sessions as well as in the fall, plus a new “Real-Life Cases in Technology Venturing” in the fall only.

NetImmune, Inc., a start-up company developed by ISR-affiliated Professor Mark Shayman (electrical and computer engineering [ECE]), Mehdi Kalantari, Ph.D. '05 electrical engineering (EE) and current ECE assistant research scientist; and Mehdi Alasti, Ph.D. '01 EE, was presented with the Award for Entrepreneurship at the University of Maryland's Invention of the Year awards. NetImmune develops products to protect internet networks by mimicking human immune system responses. NetImmune is a past winner of the UM $50K Business Plan Competition (2004) and a MIPS funding recipient (2005).

Rockville-based BioFactura Inc. is developing a therapy for smallpox using MTECH’s Bioprocess Scale-Up Facility. The company is collaborating with Fort Detrick in the laboratories of the U.S. Army Medical Research Institute of Infectious Diseases, with the objective of commercializing a product within four years. BioFactura will use the Bioprocess Scale-Up Facility to identify the best approach for manufacturing the drug on a large scale.


The Maryland Performance Excellence Awards Program hosted its first Conference and Awards Ceremony through the Maryland Technology Enterprise Institute. More than 200 leaders of Maryland business, education, health care and public sector organizations gathered to learn the elements of Baldrige-based success from winners of the state and national Baldrige award recipients. U.S. Sen. Barbara Mikulski and President Mote presented the 2005 U. S. Senate Productivity Award to the Delmarva Foundation for Medical Care of Easton, Md.





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