Baltimore’s Johns Hopkins University Technology Ventures Division Wins Competitive Award
News Release, Office of U.S. Senator Chris Van Hollen(D-Md.)
U.S. Senators Chris Van Hollen and Ben Cardin and Representatives Elijah E. Cummings, Dutch Ruppersberger, and John Sarbanes (all D-Md.) today announced that Johns Hopkins University Technology Ventures (JHTV) division has been awarded more than $633,500 through the competitive i6 Challenge of the U.S. Department of Commerce Economic Development Administration (EDA).
The funding will be used to create the Chesapeake Regional Digital Health Exchange (CReDHx), a strategic economic development effort. Among other activities, this initiative will develop a strong and diverse local technology workforce through partnerships with local educators such as Morgan State University and Baltimore City Public Schools and foster the connections between regional small businesses, investors, and other institutions engaged in the digital health field. Coupled with about $654,000 in other public and private financing, this grant will fund the project for three years.
“Our state is at the forefront of health care innovation, and this federal investment will help streamline and improve health services for families across Maryland – as well as provide important training, create good-paying jobs, and boost the economy,” said Senator Van Hollen, a member of the Senate Appropriations and Budget Committees. “I will keep working in the Senate to make smart health care investments to provide all Marylanders access to quality, affordable health care.”
“Maryland’s top-tier academic institutions and research facilities, and our strong health care sector, give us a head start in the race to lead the nation in the growing field of digital health,” said Senator Cardin, Ranking Member of the Senate Small Business and Entrepreneurship Committee. “This federal investment will give a boost to Maryland entrepreneurs, researchers, and students working in digital health, so they can continue inventing groundbreaking products to revolutionize the healthcare industry.”
“Johns Hopkins University is a global leader in healthcare, and I am pleased that JHU’s Technology Ventures division was awarded a federal grant to launch the Chesapeake Regional Digital Health Exchange,” said Congressman Cummings. “Maryland and the greater Chesapeake region are poised to benefit greatly from this grant to advance digital health. Advancements through this grant will bring cutting edge healthcare technologies into our communities, helping to make sure everyone has access to the high-quality healthcare they need. The grant will also help provide economic opportunities to minority entrepreneurs in digital health while also introducing students to digital health technologies.”
“This is exactly the type of common sense, community investment that we should be made on behalf of the taxpayers. With world-class universities and hospitals and already-vibrant healthcare industry, our region is poised to become the east coast capital of digital health,” said Congressman Ruppersberger. “This grant will connect all of these assets with the end-goal of creating new start-up businesses, products, technologies and jobs.”
“This new federal investment in the Chesapeake Regional Digital Health Exchange at Johns Hopkins University will help fortify and expand Maryland’s leadership in digital health innovation,” said Congressman Sarbanes. “By strengthening our state’s research facilities and incentivizing startup growth, we can drive modernization and bolster information sharing to improve the delivery of health care across our state.”
Additional information about the project is available from the EDA here. This funding is awarded through the i6 Challenge, which aims to build regional capacity to translate ideas and inventions into products, services, companies, and jobs. Funding is authorized under Section 27 of the Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. § 3722).