TEDCO and partners create consortium to grow Maryland's blue tech industry

TEDCO and partners create consortium to grow Maryland's blue tech industry

October 14, 2021

FLC partner TEDCO, the Maryland Technology Development Corporation, on October 6 announced its collaboration with various Maryland partners in creating the BlueTechMD Consortium to facilitate public-private collaborations to develop technologies and businesses related to climate and water.

In partnership with TEDCO, the Maryland Momentum Fund, IMET, Early Charm Ventures, Ferry Cove Shellfish, and others, BlueTechMD will host its inaugural BlueNexus event on Tuesday, November 16, 2021 at the University of Maryland, Baltimore. The event will include an investor discussion, a roundtable discussion, and information on what benefits Maryland has to offer entrepreneurs and investors. There will also be an announcement of a new partnership with two other blue economy/blue tech innovation cluster groups and information about a future business plan contest. Learn more at https://bluetechmd.com/inaugural-event/

The consortium defines "blue tech" as aquaculture, offshore wind, sustainable maritime, stormwater and flooding management, bay and ocean restoration, urban waterfront, and more. Its goal is to build on the region’s core competencies to make Maryland one of the top blue tech innovation hubs and centers of excellence in the country.

The goal of BlueTechMD, which includes for-profits, universities, and non-profits, is to attract climate tech investors and blue tech entrepreneurs to Maryland, and create more collaborative opportunities and solutions to solve our climate change problems. The challenges to our waters are unprecedented and acute with acidification, warming and sea level rise, pollution, and the loss of critical marine biodiversity. The Maryland ecosystem, with its breadth and depth of capabilities, is naturally poised to join other emerging blue tech clusters.

The Maryland market’s assets include: great anchor institutions with an educated workforce, proximity to federal government resources and the Chesapeake Bay, and accessibility to customers and organizations that help start-ups scale.

“BlueTechMD is bringing a multitude of collaborations together to support technological advancements in areas that include sustainable aquaculture, offshore wind, and the health of our harbors and oceans - issues that will improve lives” said Russell Hill, executive director, Institute of Marine and Environmental Technology (IMET). “The Blue Tech industry has a strong future in Maryland, and we’re looking forward to building a more sustainable future of growth for the industry and companies in Maryland.”

The current partners in the BlueTechMD Consortium include:

Bethesda Green

[email protected]

Early Charm Ventures

Ferry Cove Shellfish

Institute of Marine and Environmental Technology

Maryland Clean Energy Center

Maryland Department of Commerce

Maryland Department of Natural Resources

Maryland Energy Innovation Accelerator

Maryland Momentum Fund

Maryland Technology Development Corporation (TEDCO)

Maryland Technology Enterprise Institute

University System of Maryland

UpSurge Baltimore

“This new Consortium will help lead economic development for our State’s Blue Tech industries,” said Brian Toll, director of the Maryland Energy Innovation Accelerator. “Maryland’s physical proximity to the Chesapeake Bay and its robust Port of Baltimore provide strong place-based foundations for Blue Tech innovation. If we want to see more companies, technologies and jobs, we need to focus on bringing more funding and support to develop the State’s Blue Tech ecosystem.”

“Maryland has all of the right assets to make it to a top three center of Blue Tech innovation in the country,” said Claire Broido Johnson, managing director, Maryland Momentum Fund. “Our group wants to energize the ecosystem and bring more Blue Tech entrepreneurs and investors to Maryland.”

Read more: https://www.tedcomd.com/news-events/press-releases/2021/new-consortium-g...