PATHS FOR MARYLAND  ENTREPRENEURS & INNOVATORS

learn. launch. fly.

learn. launch. fly.

Mtech Baltimore

Mtech Baltimore

Mtech Baltimore, launched in summer 2013, is one of Mtech’s newest initiatives. The objectives of Mtech Baltimore are to:

  • Direct, coordinate and encourage connections between UMCP and UMB in the biomedical arena, particularly engaging engineering, medicine, pharmacy, law, business and other colleges within both universities.
  • Provide direction and support for Mtech’s activities into Baltimore, using Mtech’s capabilities to create an innovation ecosystem.
  • Direct and develop the commercial component of the UMCP capstone design courses, integrating multi-disciplinary approach over time.
  • Direct and develop entrepreneurial support resources to help turn novel ideas into sustainable businesses.

Mtech Baltimore activities include:

Capstone BioEngineering (BioE)

As part of this collaboration, new bridges have been built between UMB, the professional campus (schools of medicine, pharmacy, dentistry, physical therapy, and law), and the University of Maryland at College Park (engineering, business, humanities, etc.).  A natural collaboration between engineering, especially Bioengineering, and Medicine has resulted. The BioEngineering capstone course is critical to this effort. By linking engineering design teams more closely with clinical faculty, important clinical problems can be addressed by applying compelling engineering solutions. In particular, medical devices have been designed which can reduce health care costs while improving clinical outcomes.

As with many similar BioEngineering capstone courses nationwide, a major challenge is to translate the senior capstone design course into opportunities for sustainable start-up companies with new products. The new UM Ventures initiative represents a means to build entrepreneurial opportunities for these students to pursue the development of their capstone devices. In this way, students have the opportunity to pursue and launch an entrepreneurial venture based on their capstone experience. Rather than leaving these devices and solutions on the shelf after graduation, this new initiative will provide a chance to see these solutions come to the marketplace. This means that a major shift from past “widget-making” approach will be transformed into a robust method for medical device innovation.

In 2014-5, there are 18 capstone BioEngineering teams. Clinical mentors were found for all teams; in fact, more UMB faculty were available than teams of students.

Baltimore Entrepreneur Office Hours

The Maryland Technology Enterprise Institute (Mtech) and the Institute for Marine and Environmental Technology (IMET) have partnered with representatives from the greater Baltimore entrepreneurship community to offer free, open Baltimore Entrepreneur Office Hours on the third Tuesday of each month at the Columbus Center in Baltimore. Interested entrepreneurs and innovators can walk in or reserve a slot online at www.eoh.umd.edu.

These services, offered to the entire Baltimore community, are modeled after Mtech's Entrepreneur Office Hours at the University of Maryland, through which more than 1,000 entrepreneurs have received assistance since 2007.

Baltimore Entrepreneur Office Hours helps aspiring and current entrepreneurs with tech-based startups or ideas get advice on how to:

  • Build and finance a startup company;
  • Develop and protect intellectual property;
  • Navigate the technology transfer process;
  • Refine their business strategy for rapid growth; and
  • Tap into additional entrepreneurial resources

Entrepreneurship Education

In Spring 2014, Mtech Baltimore faculty taught the first life science entrepreneurship education course to be offered at at UMB. Listed as CIPP 980, the course listing category permits any graduate student or post-doctoral fellow at the UMB campus to enroll, regardless of college affiliation.

Through the course, "Entrepreneurship in Life Science," students explore the development of a life sciences start-up venture, and in some cases, begin to create their own start-up ventures. Students learn how to assess the feasibility of a life science start-up venture, evaluate financial and market opportunities, explore the customer discovery process, author a business plan, and build financial projections. Students discuss a wide range of issues of importance and concern to life science entrepreneurs and learn to recognize opportunity, assess the skills and talents of successful entrepreneurs, network with life science entrepreneurs, and learn models and approaches that help them analyze entrepreneurial opportunities throughout their career. Successful life science entrepreneurs will highlight real world experiences in guest lectures.

For more information about Mtech Baltimore, contact:

Dr. Martha Connolly
Director, Mtech Baltimore
email
(301) 405-3892