Baltimore’s New Federal Tech Hub Designation Positions Region as a Key Player in the Future of Tech and Biotech
The designation provides the Greater Baltimore Region with access to a share of $10 billion to catalyze funding in technologies focused on the intersection of artificial intelligence and biotechnology for Predictive Health.
October 23, 2023
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The work of a regional consortium of 31 organizations, led by the Greater Baltimore Committee (GBC) and which BioBuzz was proudly a part of, has paid off with the recently announced designation as one of the new Federal Tech Hubs under the pioneering Economic Development Administration (EDA) program.
The Biden-Harris administration announced a momentous milestone for the Greater Baltimore Region (Metropolitan Statistical Area, MSA). It has officially been designated as a federal Tech Hub under a program aimed at elevating regions across the United States to global leadership in emerging technologies.
A collaborative, meticulously orchestrated, five-month application process, orchestrated by GBC, brought together an impressive coalition of local tech firms, academic institutions, state and local government bodies, economic development organizations, and workforce development partners. Their combined efforts focused on identifying tech-related projects poised for substantial federal investment.
Out of the extensive pool of nearly 400 Tech Hub applications and close to 200 consortia designation requests, the EDA is set to name 31 Tech Hubs nationwide. The Greater Baltimore Region stands out as a promising recipient of a portion of the $10 billion earmarked to stimulate investments in a particular area of focus: the intersection of artificial intelligence and biotechnology.
“This momentous designation marks a pivotal step in our region’s journey towards technological leadership and shared prosperity,” said Mohan Suntha, MD, MBA, President and Chief Executive Officer of the University of Maryland Medical System (UMMS) and Chair of the GBC Board of Directors.
“By harnessing the power of data science and biotechnology, we stand poised to become pioneers in predictive health, with positive impacts on individual patient well-being and community health. The possibilities for our region are limitless, and this Tech Hub designation is the catalyst that will propel us into a future where innovation and well-being converge.”
“Being at the forefront of tech innovation and taking part in programs like the Biden Administration’s first of its kind Tech Hub is intrinsically invaluable to making this Maryland’s decade,” said Governor Wes Moore.
“The support that this investment will bring to the greater Baltimore region – now nationally recognized as an area of high potential – will help grow a more equitable economy that will expand opportunity, lead to better outcomes for our residents and make us an internationally leading innovation hub. I applaud the broad coalition of businesses and organizations that put this proposal together to help build a Maryland that will leave no one behind.”
“This designation will catalyze a transformative era of growth, innovation, and equitable economic opportunity for our region. While competitive, this program was designed to support regions like ours; collaborative communities with the potential to propel to the forefront of the tech revolution,” said Mark Anthony Thomas, President and CEO of the GBC, who is scheduled to appear at the White House as part of the announcement of designees at 2:00 p.m. today. “This is a first milestone for what will be GBC’s strategic focus on creating a regional economic environment that is positioned to win.”
This groundbreaking achievement was made possible by a unified and coordinated effort supported by dozens of businesses and organizations throughout the Greater Baltimore Region. In shaping the bid, 170 letters of support were provided by AI & biotech industry partners, Governor Moore, and the Maryland elected delegation. The bid included the private sector, higher education, economic development, and workforce development, all coming together to position the region as a hub for technological innovation.
The consortium members included:
- Morgan State University (HBCU)
- Coppin State University (HBCU)
- Johns Hopkins University
- Loyola University Maryland
- UMMS
- UMB
- UMBC
- Towson University
- Maryland Department of Commerce
- TEDCO
- Baltimore Metropolitan Council
- City of Baltimore
- Upsurge Baltimore
- Fearless
- Conscious Ventures Partners
- Blackbird Labs
- Early Charm Ventures
- Mindgrub
- CareFirst BlueCross BlueShield of Maryland
- Evergreen Advisors
- Fulton Bank
- BioBuzz
- LaunchPort
- Greater Baltimore Committee
- Baltimore Development Corporation
- Baltimore County Economic Development
- Howard County Economic Development
- Anne Arundel County Economic Development
- Harford County Economic Development
- Carroll County Economic Development
- Queen Anne’s County Economic Development
- Cecil County Economic Development
- Catalyte
- Npower
- Digital Harbor Foundation
- Abell Foundation
- Last Mile Education Fund
- World Trade Center Institute
This monumental designation not only solidifies Baltimore’s position as a driving force in the tech and biotech industries but also grants the region access to a considerable financial boost that will accelerate innovation and catalyze growth.
As the United States charts a course into the future of technology, Baltimore is now a pivotal player in the journey toward global tech leadership. The potential for groundbreaking developments, job creation, and transformative advancements is brighter than ever for the Greater Baltimore Region.
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