News Archive

This is the second in a 3-part series about the use of crowdfunding in health and biotech start-ups. We started with the story of a tech start-up which set records for funding through a Kickstarter campaign, triggering the interest of entrepreneurs in capital- intensive industries (Part 1: The Beginning). Part 2 discusses the JOBS Act and the government’s attempt to overcome regulatory hurdles facing companies which want to use crowdfunding to raise equity investment capital. Part 3 will address some Potential Dangers inherent in the system of crowdfunding being devised.  We hope you find the series educational and invite you to contact the authors with questions. 

In a world exploding with new technologies and gadgets to fit the up and coming generations, it seems that the older generations are getting cast aside. Even though it seems like new healthcare entrepreneurs are always moving forward, some companies, like HomeHero, took a generational step back to work in the senior care industry. Kyle Hill is the CEO and co-founder of HomeHero, a website to find in-home, affordable care for seniors. He started the company in the hopes of making caring for loved ones easier, especially when distance separated them.

The motivation to work in senior care was inspired by Kyle’s grandmother. Since their family was so separated, it made it very difficult to ensure she was getting the in-home care she needed. After he observed the poor care his family received, especially witnessing his grandmother being left alone for almost a whole day, completely immobile, and the lack of screening caregivers received, Hill and co-founder and Chief Operating Officer Mike Townsend decided to create a company that provided the best caregivers for the senior community.

The buzz word was growth at this year’s EY Entrepreneur of the Year awards on Thursday night in Baltimore as seven companies took home top honors in the annual competition that rewards innovation and financial performance.

The black-tie gala at the Marriott Waterfront showcased EY’s 24 finalists for the Maryland region before the winners were announced.A common theme was that many started in their living room or basement before becoming companies that in some cases employ hundreds of people.

FlexEl LLC, a custom battery solutions company, will open a research, development and manufacturing facility in Prince George’s County, Md.  FlexEl was spun out of the University of Maryland based upon a thin film battery technology in 2008. The company, which won the Maryland Incubator Company of the Year award in 2010 and launched as a startup at the University of Maryland, will lease more than 10,000 square-feet from the university. FlexEl currently has 10 full-time employees and plans to add an additional 50 new jobs over the next five years.

“FlexEl is an innovative company with tremendous potential and we are excited to be working with Prince George’s County and the University of Maryland to help FlexEl move to the next level of development,” said Governor Larry Hogan. “It is critical that we support home-grown companies like FlexEl that are working to develop the next generation of technology.” 

The Institute of Human Virology at University of Maryland School of Medicine has received a five-year, $24.5 million grant to help fight AIDS in Africa.

Through the grant from the Centers for Disease Control and Prevention, Baltimore researchers will focus on treatment programs that have long-term potential to address Botswana’s HIV/AIDS epidemic. The grant is part of the U.S. President’s Emergency Plan for AIDS Relief, a $48 billion initiative launched in 2004 to target global infectious diseases.

While federal, state and local policies aim to support entrepreneurs through grants and tax breaks that make capital more easily attainable, the latest Entrepreneurship Policy Digest released by the Kauffman Foundation, America’s leading entrepreneurship think-tank, says entrepreneurs most often turn to two forms of private external financing: debt and equity.

The Policy Digest says debt is the most common source of financing for new businesses, with about 40% of a business’ initial startup capital coming from bank-financed debt. Equity is a less common form of initial funding, according to the Digest, with less than 3% of new firms funded by angel investors and less than 1% funded by venture capitalists.

Chancellor Brit Kirwan reflects on the progress the University System of Maryland (USM) has made during his tenure as chancellor. He expresses gratitude to the USM community for the work it has done to elevate the quality of USM education, fuel the state’s economic development, and establish USM as a national model for higher education.

To this day, the CEO of Bethesda-based GetWellNetwork Inc. still can’t stand the smell of Domino’s pizza.

“It smells like chemo,” Michael O’Neil said of what used to be his favorite meal, until he was treated for non-Hodgkin lymphoma more than 15 years ago.

In recent years, the applications for 3D printing in healthcare have been expanding into the limitless. Once reserved primarily for prototyping, the technology has quickly proliferated in the life sciences – with applications that range from personalized surgical implants, scaffolding and tissue generation.

The 3D printing market in healthcare will reach $4 billion by 2018, according to a report from British market research firm Visiongain. The most well-known use of 3D printing may be Organovo, the publicly traded San Diego company that likens cells to ink in a 3D printing process that builds live human tissue.

The University of Maryland has been named to the 2015 class of Innovation & Economic Prosperity Universities by the Association of Public and Land-grant Universities (APLU). The designation honors 18 universities working with public and private sector partners in their states and regions to support economic development through a variety of activities, including innovation and entrepreneurship, technology transfer, talent and workforce development, and community development.  

“Public universities serve as economic engines for their local communities and states by conducting cutting edge research to reach new breakthroughs and developing the talent to help existing businesses grow stronger and enabling new ones to develop and thrive,” said APLU President Peter McPherson. “The 18 institutions in the 2015 class of Innovation & Economic Prosperity Universities serve as wonderful models of how public research universities extend beyond their campuses to engage their communities in economic development that create jobs and improve lives.”