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TEDCO lands $1.15M from Congress to help entrepreneurs navigate federal lab process
TEDCO lands $1.15M from Congress to help entrepreneurs navigate federal lab process
Listen to this articleTEDCO, Maryland’s economic engine for technology companies, received $1.15 million from the U.S. Congress to advance its Federal Lab Leveraging Innovation to Products (FLLIP) Pilot Program, it was announced Thursday.
The direct spending request was sponsored by Maryland’s U.S. Sens. Benjamin Cardin and Chris Van Hollen and included in the Fiscal Year 2024 Financial Services and General Government funding bill, which was signed into law last month as part of a FY24 appropriations package.
The FLLIP Pilot Program will be a collaborative effort between TEDCO and the Frederick Innovation Technology Center Inc. (FITCI) to address the challenge of helping entrepreneurs and small businesses approach and navigate federal laboratories to allow for collaborations that will enable entrepreneurs to develop innovative solutions for healthcare challenges and grow their businesses.
The Columba-based TEDCO continues to be an influential entity in Maryland, generating $2.7 billion in economic activity across the state, supporting more than 12,000 jobs, and more. A portion of this economic activity can be attributed to the federal programs already in place. These programs, like the SBIR/STTR Proposal Lab and DefTech, show TEDCO’s expertise in preparing, promoting and growing a program such as FLLIP.
