Maryland is Where
Medtech Happens From an idea’s first breath, to your final product improving lives around the world, and every step in between, Maryland means big opportunities for medtech innovators.
Maryland Advantages: • • • •
World-class universities and cutting-edge incubators Easy access to National Institutes of Health (NIH), FDA, CMS Advanced and flexible manufacturing base Highly skilled workforce
What’s Happening Here? Everything When it comes to medtech, diversity is our strength. From startups and spin-outs to global corporations, Maryland is already home to more than 300 medical technology and digital health companies developing every type of technology, and that number is growing fast!
Home to Industry Leaders
Talent Pipeline Maryland employs the second most PhD scientists and engineers in the U.S. and is home to a density of life sciences innovation incubator and accelerator programs. With leading medical device consulting firms on the ground, Maryland can guide you from development through commercialization. The 4,000 Marylanders currently working in medical device manufacturing are supported by an influx of science graduates from Maryland’s top universities. Being a leader in STEM also allows us to prepare for tomorrow’s workforce.
Federal Access and Funding Washington D.C. is in our backyard, key federal agencies are headquartered here, and, at #2 in per capita funding with $21.1 B in federal R&D obligations, Maryland is at the center of everything.
#1
Tech Transfer Facilities
55
Leading Colleges & Universities
50+
Incubators & Accelerators
5
TOP
Innovative States in the Nation
Supportive Environment From fledgling startup to spreading your global wings, Maryland is committed to building a strong medtech industry. The Maryland Department of Commerce team provides direct logistical support and comprehensive business funding programs designed to make your ideas reality and get them to the world. Flexible Funding: When it comes to capital, Maryland has the tools to launch and grow your business, with financing programs like Commerce’s Advantage Maryland. TEDCO programs also provide seed, venture and social impact funding, and established tech transfer programs help bring the latest innovations out of the lab. Strong and Integrated Medtech Community: Join a medtech community where industry innovators are backed by robust state supports. Commerce’s Maryland MedTech Meetups and popular, annual Maryland MedTech Week forge partnerships, foster growth, and drive a rising tide to lift every boat. Soft Landings: Our innovative Global Gateway soft landing program provides your startup with infrastructure, expert assistance and access to experienced partners. Investor Incentive: Our Biotechnology Investment Incentive Tax Credit program spurs private investment, amplifies resources, and drives growth. Research and Development: With our leading research facilities and R&D Tax Credit set up to support your research initiatives, you won’t have to go it alone. Job Creation: Maryland helps you create jobs and put people to work through the Job Creation Tax Credit. Workforce Development: We have a world class workforce and we are dedicated to getting your business the people you want with the training you need with our Partnership for Workforce Quality. Export Assistance: Maryland helps get your product to the world with ExportMD and FlexEx.
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From Inspiration to the Market—Do it All in Maryland
Maryland is your one stop shop for medtech innovation and implementation. Let us show you how in five easy steps.
1. Inspiration: The First Step to Your Future
Some of the greatest minds in the medical fields make Maryland home, and it’s no mystery why. Powerhouse innovation hubs like the Johns Hopkins Center for Bioengineering Innovation & Design, the #1 U.S. Biomedical Engineering program according to U.S. News and World Report; the University of Maryland Fischell Department of Bioengineering; and Maryland’s federal research facilities are at the cutting edge of the medtech revolution generating ideas and developing a talented workforce.
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Incubation: Don’t Grow it Alone With life sciences innovation incubators including medtech-centric facilities, serious entrepreneurial resources, our world-class university system, and thriving private sector, in Maryland you will find fertile ground for your ideas to grow.
3. Access: Proximity is Everything
What do the NIH, FDA, and CMS have in common? They are all headquartered here in Maryland. With agency access in your backyard and experienced consultants on the ground to guide you through regulatory compliance and insurance reimbursement, Maryland gives you a running start at the medtech market.
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Manufacture: Make it in Maryland Time to make the leap from idea to reality? Maryland has nationally competitive manufacturing incentives to get you started; the deep, flexible, future-facing, ISO-certified industry base you need; and a world-class medtech workforce to get your product to the finish line.
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Expansion: Your Expressway to the World Build it here and Maryland will deliver your product to the world. Our central location on the Eastern Seaboard means easy rail, road, and air access to the entire U.S.; with the Port of Baltimore in your backyard and innovative programs like ExportMD here to help you navigate overseas markets and get your product to the customers who need it most anywhere in the world. For more information on medtech in Maryland, visit business.maryland.gov/lifesciences Stefanie Trop, PhD Director, Office of Life Sciences stefanie.trop@maryland.gov +1-443-610-7436
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