The fund created and invested $150,000 each in the following six companies through the Company Formation Phase of the program, including the local company, NuMoon Technologies, The UMBC spinoff commercializes detection solutions that enhance the safety and security of military and civilian lives.
“MII is focused on our mission to accelerate promising technologies from the lab to the market – be it in health or other consumer markets,” said Dr. Arti Santhanam, MII executive director. “To this end we are committed to creating start-ups that have a solid technological basis, address a pressing commercial or health need and can create a robust technical ecosystem supporting jobs and economic growth in Maryland.”
The MII program was created as a partnership between the state and five Maryland academic research institutions: UMBC, The Johns Hopkins University, the University of Maryland, College Park, Morgan State University; and the University of Maryland, Baltimore. The program’s mission is to accelerate promising technologies with significant commercial potential to market while leveraging each partner university’s strengths.
For more details on eligibility and application requirements and to view MII’s 2019 Annual Report, visit www.tedcomd.com/MII.