In a historic move, Governor Wes Moore announced today the launch of the Maryland Innovation Lab, a groundbreaking joint initiative between the Maryland Department of Commerce, the World Trade Center Institute in Baltimore, and L Marks. This program will bring collaborative innovation to Maryland-based companies by partnering them with global technology firms and spurring global investment in the state.
As part of the Maryland Department of Commerce’s Global Gateway Program, the Maryland Innovation Lab will begin this summer in the sustainable food sector, tackling challenges in food packaging, logistics, supply chain, and distribution. Each time a new cohort is convened, the program will focus on a different industry sector.
The Maryland Innovation Lab is designed to match Maryland companies with global firms selected by L Marks to pitch innovative solutions. The matched companies will then work together for ten weeks, with global companies also having the opportunity to explore Maryland for possible location or expansion. This will enable Maryland’s strategic industries to develop innovative solutions while also attracting new foreign investment to the state.
The partnership between the Maryland Department of Commerce, the World Trade Center Institute, and L Marks will enhance the business relationship between the UK and Maryland, drive industry innovation in the state, and support and grow the local business ecosystem. Governor Moore’s international trade mission also resulted in an exchange agreement between Plexal and DreamPort, a cyber innovation facility in Howard County.
This agreement will provide UK companies with a “soft landing” in Maryland and Maryland companies with opportunities to explore the UK market. Goldilock, a UK-based cybersecurity company that has participated in Plexal’s accelerator programs, also announced plans to locate at DreamPort this fall through the Maryland Global Gateway program.
The Maryland Innovation Lab is a pioneering initiative that will help Maryland companies thrive in an increasingly connected and globalized world. It is a testament to the power of partnership and collaboration, and its success will undoubtedly have a significant impact on the state’s economy and business ecosystem.
