TEDCO secures $1.15 million to advance healthcare products in Maryland
The Congressionally Directed Spending - previously referred to as an earmark - will support the Federal Lab Leveraging Innovation to Products (FLLIP) Pilot Program.
TEDCO, officially known as the Maryland Technology Development Corporation, has received $1,150,000 in Congressionally Directed Spending – previously referred to as an earmark – to advance its Federal Lab Leveraging Innovation to Products (FLLIP) Pilot Program.
The direct spending request was sponsored by U.S. Senators Ben Cardin and Chris Van Hollen and included in the Fiscal Year 2024 Financial Services and General Government funding bill, which was signed into law last month as part of a FY24 appropriations package.
“Maryland is home to more than 70 federal labs, from the NIH in Silver Spring to the Frederick National Lab for Cancer Research and the Army Medical Research and Development Command,” said Senator Cardin. “With this federal investment, we’re making it easier for traditionally underserved businesses in the healthcare industry to take full advantage of the resources right in their backyard. Community partnerships like the FLLIP Program drive innovation in the state and help build a more equitable, prepared and developed health care system.”
The FLLIP Pilot Program will be a collaborative effort between TEDCO and the Frederick Innovation Technology Center, Inc. (FITCI) to address the challenge of helping entrepreneurs and small businesses approach and navigate federal laboratories to allow for collaborations that will enable entrepreneurs to develop innovative solutions for healthcare challenges and grow their businesses.
“This new program fits perfectly within TEDCO’s scope,” said Troy LeMaile-Stovall, TEDCO Chief Executive Officer. “At TEDCO, we are already collaborating with federal labs, and, with this new program and earmarked funding, we are looking forward to expanding our support to more businesses and entrepreneurial efforts.”
