Creating the Ag & BioTechnology Commercialization Coalition
FREDERICK, Md., Oct. 27, 2022 /PRNewswire-PRWeb/ -- The Frederick Innovative Technology Center, Inc. (FITCI) is pleased to announce that its new CENTER – The EDGE@321 – is moving forward with strong support from the U.S. Department of Commerce. FITCI and its partner, the Eastern Shore Entrepreneurship Center (ESEC), both 501(c)(3) nonprofit organizations, will share a $1.8-million grant, part of the EDA's Build to Scale Venture Challenge, to create the Ag & BioTechnology Commercialization Coalition (ABTC). This coalition will unify two of Maryland's leading incubators/accelerators and scale their foundational programs into an expansive, comprehensive program.
The effort combines "the unique commercial and technological resources of Eastern Shore Entrepreneurship Center and Frederick Innovation Technology Center to further enhance the economic success of burgeoning biotech entrepreneurs from the most distant, rural locations to the urban corridor of Maryland," according to award documentation.
The ABTC will provide:
- Physical lab resources and shared lab spaces to the growing sector of AgBiotech innovators;
- Leading commercialization, investment, and industry advisory resources, including a new pilot manufacturing facility for transitioning from lab to market;
- Access to technical resources for the acceleration, identification, and maturation of early-stage companies.
- Programming to provide pathways to expedite advancement from lab-stage technology development to commercialization; and
- A network of facilities providing scaled manufacturing capabilities.
Collaborative partnerships with TEDCO and other economic development organizations, colleges and universities, as well as established research organizations, suppliers, and industry leaders, will remove barriers to entrepreneurial growth and enhance the creation of new high-skill jobs, promoting equitable economic growth.
FITCI CEO Kathie Callahan Brady says, "This is a great project, and so important. Our organization grew 500% in the last six years and there is growing demand. Entrepreneurs come from everywhere and every walk of life. We've learned that we must meet them where they are in their development and build a unique framework around them. To do this, we focus on coaching, capital, and connection, especially through collaboration."
FITCI is dedicated to encouraging technological innovation and accelerating the development of commercially viable businesses as twin pillars of economic stability and quality of life.
"Working cooperatively makes us stronger," says Callahan Brady. "This is the next step. By creating a diverse network of partnerships, including this coalition, we can ensure that innovation is encouraged and nurtured, strengthening the whole ecosystem, locally, regionally, and nationally."
FITCI's is celebrating a groundbreaking for The EDGE@321 this November 3rd. The new center can accommodate triple the incubator's current clients, as well as creating a base camp for community groups, FITCI graduates, key support services for life science and agtech operations, and other established companies.
The public may register for the brief ceremony at https://www.eventbrite.com/e/fitci-the-edge321-groundbreaking-celebration-tickets-427332271327.
For information about the coalition, innovation hub, participation or sponsorship opportunities, contact 301-694-2999 or [email protected].
Media Contact
Kathie Callahan Brady, CEO, FITCI, 301-694-2999, [email protected]
SOURCE FITCI
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