Catalyst Magazine

Maryland Momentum Fund: Supporting UMB’s Entrepreneurs

T

he University of Maryland, Baltimore’s (UMB) faculty, students, and alumni have an entrepreneurial streak. In their research, studies, and work, they create solutions for tough problems while in many cases developing valuable intellectual property. Each year, UMB patents nearly 50 inventions and executes more than 50 license agreements on UMB technologies with industry partners. On average, the University annually spins out seven to 10 new companies founded by UMB faculty and alumni.

Startups based on UMB’s intellectual property often require significant capital investment to complete the type of research and trials needed to develop market-ready technologies. The investment-raising process for startup companies typically is an uneven one, and the gap between the seed-funding stage and the next major financing round — an A round — is often particularly difficult.

USM Maryland Momentum Fund Logo

To support entrepreneurs from UMB and across the University System of Maryland (USM), USM created the Maryland Momentum Fund (MMF), a $10 million investment fund that concentrates on filling gaps in the funding pipeline to push USM’s most innovative ideas into the marketplace. MMF invests in technology-based startups related to any of USM’s institutions. USM faculty, students, and alumni with qualifying startups are all eligible to apply for investment.

Since MMF was established in the spring of 2017, three UMB-associated startups have received funding: NextStep Robotics, Veralox Therapeutics, and NeoProgen. 

NextStep Robotics is developing adaptive software that provides personalized robotic therapy to patients. Based on intellectual property from the University of Maryland School of Medicine (UMSOM), this personalized “assist-as-needed approach” is the first clinically proven option to effectively treat foot drop, a neurological condition that inhibits a patient’s ability to raise their toes while walking. 

Veralox Therapeutics, founded by a UMSOM alumnus, is focused on developing first-in-class small molecule therapeutics that treat the underlying pathologies of thrombosis and Type 1 diabetes, which each impact hundreds of thousands of new U.S. patients each year.

NeoProgen is developing a novel cell-based therapy for people who experience a heart attack and patients with advanced heart failure. The company’s technology, developed by UMB’s leading pediatric cardiac surgeon, Sunjay Kaushal, MD, PhD, and his lab, is developed from neonatal cardiac progenitor cells derived from tissue discarded during lifesaving heart surgery in babies with congenital heart conditions.


Learn more about MMF and eligibility or submit an interest form at momentum.usmd.edu

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Kate Ostrowski

Kate Ostrowski, MPP, is the associate director, foundation operations and compliance, and board relations, in the Office of Philanthropy at the University of Maryland, Baltimore.

CATALYST magazine


Executive Board

Lynne Henry, Laura Kozak, Larry Kushner, Jennifer Litchman, Thomas Sullivan, Kate Ostrowski

Editor

Lynne Henry

Managing Editor

Chris Zang

Assistant Editor

Kate Ostrowski

Photography Director

Matthew D’Agostino

Designer

Michelle Baffuto

Web Director

Amir Chamsaz

Marketing Manager

Kristi McGuire