Johns Hopkins University partners with NIH, Howard University to launch medtech accelerator
NeuroTech Harbor Executive Director Sri Sarma views the project as a catalyst to turn Baltimore into a the Silicon Valley of neurological technology.
Courtesy of Sri Sarma
By Matt Hooke – Reporter
September 30, 2022, 02:24pm EDT
Johns Hopkins University is teaming with two Washington, D.C.-area institutions, Howard University and the National Institutes of Health, to create a new accelerator to help companies and research scientists focused on treating neurological conditions.
The nonprofit biotechnology accelerator, NeuroTech Harbor, is funded by an NIH investment of $5 million over five years, which could go up to $20 million annually. The NeuroTech Harbor plans to launch 45 new neurological companies over the next five years.
Executive director Sri Sarma, a professor at Hopkins, is seeking early stage companies to apply to the program. The goal is for companies to produce the first in-human prototype of a medical device by the end of the program. Selected companies can remain in the program for up to four years, earning $500,000 in support each year. Companies could be eligible for more support from the NIH if they succeed through the vetting process for a grant. The accelerator will not take any equity in the companies it selects.
Neurotech Harbor will attract scientists from across the country, so the program offers a unique opportunity for Baltimore to showcase the city’s resources to entrepreneurs and scientists. Although the accelerator does not require companies to move to the Baltimore area, Sarma views the initiative as a catalyst to help turn the Baltimore area into a Silicon Valley-esque hub for medical technology.
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