ROCKVILLE, Md., Oct. 24, 2016 /PRNewswire/ -- BioHealth Innovation, Inc. (BHI) announced today that the Maryland Economic Development Corporation (MEDCO), who is the agent for Montgomery County, has selected BHI to manage the Germantown Innovation Center (GIC) located within the Pinkney Innovation Complex for Science and Technology at Montgomery College (PIC MC). The Germantown Innovation Center was previously managed by the Montgomery County Department of Economic Development, which transitioned into the Montgomery County Economic Development Corporation (MCEDC) on July 1, 2016.
Additionally, BHI and PIC MC have signed an agreement to work collaboratively on business incubation and company recruitment at the PIC MC—a 20-acre integrated academic, business and research campus.
"We are pleased that MEDCO has selected BHI as a partner to manage GIC, a quality incubation facility for the growing biohealth and biotech sector in Montgomery County. The County is the lead founder of BHI, and this decision to have our organization manage and lead the GIC further demonstrates Montgomery County's dedication to BHI's mission and ever-growing partnership," said Richard Bendis, BHI President and CEO. "Furthermore, we are excited about our new partnership with Montgomery College and look forward to supporting the growth of the innovation complex."
BHI will lead the overall management, programming, and entrepreneurial support at the GIC, which includes new company recruitment to the facility. BHI will use its network of partnerships with leading biohealth industry organizations and regional service providers to support the budding small businesses at the GIC for individual growth needs. Additionally, BHI and Montgomery College will host outreach events with the overall goal of building a stronger biohealth community.
"Having BHI manage our Germantown bio incubator makes great sense, as it aligns directly with the organization's mission to advance early-stage biomedical R&D," said Assistant Chief Administrative Officer for Economic and Workforce Development Lily Qi. "We are confident the partnership between BHI and the College will be a tremendous value for GIC companies and help drive increased growth for this county and beyond."
Montgomery College and the PIC MC will largely focus on driving local resources to the innovation center to further develop it as an economic engine in the region. GIC tenant companies will have access to the College's resources, including experienced biotechnology faculty and staff, equipment, a diverse talent pool, as well as educational and post-doctoral courses. The College will also support the GIC by identifying synergistic grant, teaching and speaking opportunities.
"We have known BHI for many years and know that they are the perfect partner to help grow our entrepreneurial companies and partners," said Montgomery College Senior Vice President of Academic Affairs Dr. Sanjay Rai. "This collaboration is the start of a partnership that we believe will continue to set our region apart."
About BioHealth Innovation, Inc.
BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market-relevant bio-health innovations and increasing access to early-stage funding in Maryland. BHI is known for providing commercial assistance to scientists and founders, educating and infusing Maryland's life science community with new and young entrepreneurs and fueling startups within Central Maryland's bio-ecosystem by connecting young companies to funding and business resources. Learn more at: www.biohealthinnovation.org
About Montgomery College and Pinkney Innovation Complex for Science and Technology at Montgomery College (PIC MC)
Montgomery College is a public, open admissions community college with campuses in Germantown, Rockville, and Takoma Park/Silver Spring, plus workforce development/continuing education centers and off-site programs throughout Montgomery County, Md. The College serves nearly 60,000 students a year representing 160 countries, through both credit and noncredit programs, in more than 130 areas of study. Montgomery College is the only community college in the country with an integrated academic, business and research campus, (PIC MC in Germantown). PIC MC is actively engaged in attracting life sciences companies and entrepreneurs to locate on the Germantown Campus to connect with our students in the College's premier biotechnology, cybersecurity and technology programs. Learn more at: www.montgomerycollege.edu
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SOURCE BioHealth Innovation, Inc.