University of Maryland BaltImore Life Science Discovery (UM-BILD) Accelerator - PROJECT SUMMARY/ABSTRACT The goal of the University of Maryland BaltImore Life Science Discovery Accelerator (UM-BILD) is to create a new NIH Research Evaluation and Commercialization Hub (REACH) program that serves as a development engine to build the life science economy in West Baltimore and Greater Baltimore and to train one of the most diverse biomedical and entrepreneurial workforces in the US. Underrepresented minorities (URM) making up 34% of the population, URMs comprise only 15% of PhD graduates and 4% of tenured faculty positions in medical schools. Diversity amongst venture-backed founders is even less. This is in the face of evidence that increased workforce diversity increases productivity, financial performance, and employee satisfaction. UM-BILD will be formed from a partnership with University of Maryland Baltimore (UMB), University Maryland School of Medicine (UMSOM), University of Maryland Baltimore County (UMBC) (a Minority Serving Institution), University of Maryland College Park, Morgan State University (a Historically Black College/University (HBCU)), Blackbird Laboratories ($100MIL life science institute/incubator), and the Maryland Innovation Initiative (MII). All Baltimore universities and life science innovators will have access to hub expertise, resources, and networking. UM-BILD will directly address the need for increased biomedical and startup workforce diversity leveraging existing, successful initiatives at UMSOM and UMBC. UM-BILD will foster life science industry growth of the demographically diverse (28% African American and 7% Hispanic) Baltimore Region. UM-BILD will embrace existing partner programmatic efforts to increase biomedical workforce diversity; as well as direct engagement with HBCU’s and Minority serving institutions. UM-BILD will solicit, identify, and develop early-stage life science platforms and projects over the entire spectrum of technology types. UM-BILD will have three specific aims: Aim 1: Provide seed investment and development resources for 11 early-stage technology projects teams per year enhanced by a $5 million non-federal match funds through partner institutions and MII. Technologies will receive milestone gated investments of up to $200,000 and access to unique biomedical development facilities at UMB and UMBC to serve as a dedicated incubator. Aim 2: Train a diverse biomedical and innovation workforce from elite scientists and innovators. We will offer a dedicated entrepreneurial, project management, and business development curriculum that will build upon on-going biomedical workforce diversification programs at UMB and UMBC, and the Baltimore region in general, to allow for a unique cohort of newly trained life science entrepreneurs, many from URM backgrounds. Aim 3: Create new companies ready to apply for federal SBIR/STTR awards and raise private capital to grow the life science economy in Baltimore. UM-BILD will provide services in company formation, training in obtaining federal innovation grants; connections to investors seeking early-stage life science opportunities (see letters of support); and subsidized space in Baltimore Bioparks.
