Market Highlights

• The University of Maryland at Baltimore received a four-year $4 million dollar grant from the NIH to advance biomedical entrepreneurship and innovation in the region.
• The State of Maryland established the Innovation Economy Infrastructure Act of 2023, providing $10 million in funding to cover specific costs of development across numerous tech sectors, including life sciences projects.
• Life sciences industries, drug discovery and biotechnology, received the most venture capital funding in the DC Metro Region in 2023, with nearly $1.2 billion dollars going to the sectors in the last quarter of the year.

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