Inaugural INNoVATE Class Graduates Rockville Home for First Technology Spin Out Company, BioLOGIS

New National Science Foundation funded program (UMBC/JHU) offers 12 months of entrepreneurship and business development leadership training. Inaugural class graduates and first spin out company launched.

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INNoVATE is an unique business development opportunity for people at our federal labs and local universities who are interested in entrepreneurship, as it provides a supportive and structured environment to help launch marketable technologies.

Rockville, MD (Vocus) December 17, 2010

This evening, 20 budding entrepreneurs from the postdoctoral community will graduate from INNoVATE, a 12-month program at the Johns Hopkins Carey Business School offered on the JHU Montgomery County Campus in Rockville, Maryland. INNoVATE is a technology commercialization program that matches business professionals with postdoctoral fellows to evaluate the commercial viability of a technology, prepare the business case for the technology, and start a business based on it. The program is funded by a grant from the National Science Foundation and supported by The Johns Hopkins University Carey Business School; the University of Maryland, Baltimore County; Rockville Economic Development, Inc.; the Montgomery County Department of Economic Development; and the National Institutes of Health.

The inaugural INNoVATE class has already spun out one new technology company, Rockville’s BioLOGIS, which monitors the transport of high-value biologics and other valuable goods.

“We are so very pleased to see the success of this program, and to lend our support to match this incredible postdoctoral talent with our wonderful entrepreneurial talent to foster technology innovation and further the creation of new businesses here in Rockville,” said Sally Sternbach. “INNoVATE is an unique business development opportunity for people at our federal labs and local universities who are interested in entrepreneurship, as it provides a supportive and structured environment to help launch marketable technologies.”

INNoVATE emulates the format of the highly successful ACTiVATE® program at the University of Maryland, Baltimore County, which has led to the formation of more than 30 companies since its inception in 2005. INNoVATE is designed to foster science and technology-based businesses from the National Institutes of Health, Johns Hopkins University, the University System of Maryland, and other research institutions and federal agencies.

“We are excited to have this dynamic program on our Montgomery County campus and to support the growth of new technology businesses in our dynamic I-270 corridor,” said Elaine Amir, Executive Director, Johns Hopkins University, Montgomery County.

INNoVATE is currently recruiting for its next cohort. Classes are expected to begin in March, and run through December of 2011. To learn more about INNoVATE, e-mail innovate(at)jhu(dot)edu or visit http://web.jhu.edu/mcc/innovate.html.

About Rockville Economic Development, Inc.
The mission of Rockville Economic Development, Inc. (REDI) is to assure the City’s future economic vitality. From accessing funding sources to workforce development… from educational programming to market intelligence… from advisory services to introductions to key decision-makers… REDI helps companies grow by providing knowledge, access, resources, and direction to companies at all stages of growth. REDI offers its resources to the community free-of-charge, and welcomes inquiries and referrals. For more information contact, Info(at)RockvilleREDI(dot)org.

Contact: Alicia Moran
410-991-7027

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