A new program plans to bring international investment to Maryland by giving foreign startups a taste of the region’s economy through partnerships with local businesses.
The Maryland Innovation Lab is a collaboration among the state Department of Commerce, the World Trade Center Institute in Baltimore and London company L Marks, Gov. Wes Moore said in his announcement last Friday. The innovation lab is the first time the nonprofit sector, private industry and government have partnered in Maryland to attract international startups.
The Maryland Innovation Lab will pair local companies with international startups to develop new technologies, with the first cohort focusing on improving the state’s food sector through innovations in processing, packaging, logistics, supply chain and distribution. The initial grant agreement with the state lasts 15 months, but some view the program as a long-term project that can improve many different industries in the state, like cybersecurity.
