Two Baltimore nonprofits received a $520,000 federal grant for a program to help create jobs in medical research and biotechnology.
The Economic Alliance of Greater Baltimore and nonprofit BioHealth Innovation Inc. are establishing what is known as a Healthcare Regional Innovation Cluster. The initiative will support efforts to turn laboratory research into medical technologies and startup companies in the Baltimore area and Montgomery County.
The groups work with institutions like the National Institutes of Health to help identify promising technologies and connect them with investors to launch new companies and create jobs.
The grant came from the U.S. Department of Commerce's Economic Development Administration.