SSTI Digest

Maryland has a new program to provide loans to early stage technology-oriented companies that are affiliated with the incubation network, Governor Robert Ehrlich announced earlier this month. The $500,000 Working Capital Loan Fund, administered by the Maryland Technology Development Corporation (TEDCO), will offer low-interest, flexible term loans of between $15,000 and $50,000 to companies in underserved parts of Maryland.

The U.S. Department of Commerce's Economic Development Administration (EDA) provided $325,000, which was matched by TEDCO, to capitalize the fund, provide technical assistance and support outreach efforts. The loans are specifically targeted toward incubation-affiliated businesses in Wenstern Maryland, the Lower and Mid Shore and Baltimore City. Loans can be used for working capital.

For the second year in a row, the Maryland Technology Development Corporation (TEDCO) was the most active source of early-stage or angel capital, according to the July issue of Entrepreneur magazine. The list of the top 100 funds, based on number of deals made during 2004, is based on the results of the quarterly MoneyTree survey published by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association (NVCA).

Forty-six of the venture capital sources on the list are from California; 17 are from Massachusetts. Some of the well-known angel organizations, such as Tech Coast Angels, Band of Angels and the Angels Forum and the Halow Fund (all from California), were in the top firms with 7-8 deals.

Chris Marschner is the new president of the Maryland Business Incubation Association (MBIA).

Last week, Kevin Carr, the director of the Manufacturing Extension Partnership, announced that he would be leaving his position and NIST effective June 30. Kevin has led the program since 1994, and under his leadership, MEP became the exemplary federal program for working in partnership with the states. Since Kevin became director, MEP has worked closely with the states, actively seeking their input on program design and operation. While SSTI is the product of the work of many, Kevin's support and encouragement were critical to our start-up and continued existence. As an advocate for state-federal partnership and as a friend, he will be sorely missed.

MdBio, Inc., a nonprofit organization servicing Maryland's bioscience industry, announced it will be renamed the MdBio Foundation under restructuring and expansion efforts. The 501(c)3 organization will be overseen by a new 501(c)6 nonprofit membership trade association, MdBio, Inc.

President Bush has nominated Dr. William Jeffrey as director of the National Institute of Standards and Technology (NIST). The nomination is subject to Senate confirmation.

Dyan Brasington, former president of the Technology Council of Maryland, is the new director of economic and workforce development at Towson University.

Greater Baltimore Technology Council executive director Penny Lewandowski is leaving at the end of May to join the Edward Lowe Foundation in Detroit. Assistant director Steve Kovak has been named her successor.

Johns Hopkins University has named Jill Tarzian Sorenson to serve as associate provost and director of the Office of Licensing and Technology Development.

The nation's most significant source of funding for life science research, the National Institutes of Health, announced two sweeping changes last week that could dramatically alter biotechnology commercialization. The first policy change addresses known and potential conflicts of interest by NIH employees, while the second encourages all NIH-funded research to be released publicly within 12 months of final publication.

Julie Coons is the new president of the Technology Council of Maryland. Coons most recently served as executive vice president of PCIA -- the Wireless Infrastructure Association.

Secretary Aris Melisssaratos of the Maryland Department of Business and Economic Development recently announced two new appointments. Leslie Sipes-Pachol will serve in the position of executive director for the Maryland Economic Development Commission, and Paul Mauritz has been promoted to become Assistant Secretary for Technology Strategy and Business Development.