The Baltimore technology sector is now in a race to win a $70 million federal grant meant to enhance its infrastructure, heralding possibilities of high value investments and job creation. Both startups and established tech firms are joining forces, acknowledging the need for such a boost in the city’s technological future.
Known as a national technology hub since last fall, Baltimore encompasses the city itself and seven surrounding counties, all vying for a slice of the $10 billion federal grant under the Tech Hubs Program set to be doled out over five years. The city was designated a significant technology hub, drawing eyes nationwide to its tech merits.
Plans have been laid out by Baltimore’s leadership to morph the region into a hub for artificial intelligence and biotechnology, currently in early development. Public discussion of preliminary project plans took place this week at Coppin State University, with city officials’ hope in this tech advancement to greatly contribute to the city’s economic growth.
The Tech Hubs Program’s second phase will select five to ten from the 31 identified hubs, a decision to be made by the US Commerce Department this summer. Baltimore has submitted their application in hopes of being considered for this phase that highlights promising US regions set to become global competitors in pioneering technological fields.
City officials are optimistic on the recognition and aid this competition could bring to Baltimore’s local technology sector. A winning application would provide critical resources for the city, advancing its prospects on the international technology stage.
Baltimore’s consortium aims to earn the maximum $70 million in this phase, backed by a local matching grant of $7.7 million. Their strategy includes five proposed projects focusing on workforce building, advanced biomanufacturing facilities establishment, and innovation and entrepreneurship bolstering. These initiatives expect to generate over 95,000 jobs over the next ten years, contributing to a substantial surge in regional economic growth.
The proposals delve into the exploration of artificial intelligence and machine learning technologies to analyze health data, with possible applications ranging from diagnostics to drug development. This includes plans to expand the US’s biomanufacturing capabilities as a part of national security measures, construction of a pioneering biomanufacturing facility, and the initiation of a Center for Community Impact in Manufacturing at Coppin State University.
Finally, the initiative aims to forge a wide network to support commercial startups. This partnership with entrepreneur support groups is intended to cultivate investor relationships, creating a conducive environment for mentoring and networking, and providing critical resources for tech entrepreneurs aspiring to start a business in the city.
