The Baltimore region is preparing to compete for a share of federal funding in its bid to establish itself as a center for artificial intelligence and biotechnology. After missing out on up to $70 million in the initial round, Baltimore and seven surrounding counties are gearing up to secure a portion of the $10 billion in federal funding over five years. The funding is part of the federal tech hub program, which aims to boost tech economies in overlooked communities and make them globally competitive in emerging technologies.
The Greater Baltimore Committee (GBC), which organized the initial bid, is optimistic about the region’s chances in the next round. Dr. Mohan Suntha, chair of GBC’s board and president and CEO of the University of Maryland Medical System, stated that Baltimore is still in the game and actively competing for a significant amount of resources. The region’s proposed projects focus on creating a sustainable pipeline of workers, establishing state-of-the-art biomanufacturing plants, and supporting entrepreneurship and innovation.
Despite not being chosen in the first round, Baltimore remains hopeful and plans to fine-tune and strengthen its case for the next application. The region aims to leverage technology that utilizes artificial intelligence and machine learning on health data for applications such as diagnostics and drug development. Mark Anthony Thomas, the president and CEO of GBC, believes that Baltimore can compete for future funding rounds and expects increased investment in the coming years.
While the reasons for Baltimore’s initial exclusion have not been officially communicated, Thomas speculates that the region’s recent formation of the coalition and partnerships may have put them at a disadvantage compared to regions that have spent years building ecosystems and political support. However, the tech hub program was designed to distribute funding to overlooked regions rather than pit cities against each other.
The Biden administration has requested $4 billion in funding for the next phase of the program, which could be split into multiple rounds. The CHIPS and Science Act, signed into law in August 2022, authorized $10 billion for the federal program over five years. Baltimore’s tech hub is set to receive a $500,000 federal grant this month to support its reapplication. If additional funds are allocated by the end of the year, a new application period could open in January, with funding for new applicants expected by next summer.
The GBC, along with numerous local tech firms, academic institutions, government entities, economic development organizations, and workforce development groups, is committed to supporting Baltimore’s hub. The region’s first application received over 100 letters of support, outlining commitments totaling more than $800 million.
Although facing challenges such as political uncertainty and negative perceptions, Baltimore remains determined to establish itself as a prominent tech hub. The region plans to take a coordinated approach and seek additional funding from other federal programs and investments. The GBC’s efforts have not only galvanized the business community but also highlighted the unique assets Baltimore possesses.