NIST and TEDCO N-STEP Recognized for State and Local Economic Development Award
for successful initiatives involving economic development groups and federal labs
COLUMBIA, Md. (October 29, 2020)— The NIST-Science and Technology Entrepreneurship Program (N-STEP) implemented by TEDCO, Maryland’s economic engine for technology companies, is receiving the State and Local Economic Development award from the Mid-Atlantic Region of the Federal Laboratory Consortium for Technology Transfer (FLC).
The FLC is a congressionally mandated organization that educates, promotes, and facilitates Federal technology transfer. This award recognizes TEDCO’s N-STEP achievements in successful initiatives involving state and local economic development groups collaborating with federal labs to generate economic benefit.
“We are honored to be recognized for providing opportunities for motivated researchers to build upon the experience gained while working at NIST as they explore entrepreneurial careers,” said Troy LeMaile-Stovall, TEDCO’s CEO and executive director. “N-STEP resembles one of many collaborations we, at TEDCO, pride ourselves in being a part of to continue driving economic empowerment throughout the state.”
N-STEP focuses on commercialization of NIST research by NIST researchers, who are interested in forming companies to independently pursue further translational research and development of technologies. N-STEP offers grants of up to $112,000 to support projects that continue or initiate translational research and development activities specifically related to NIST’s mission, so that the technologies can be commercialized as products or services to benefit the public. Funding will be provided for specific projects with potential for commercial success that can be successfully completed within 12 months.
“NIST and TEDCO have collaborated on N-STEP for many years, and it’s an honor to earn this recognition for all the hard work put into commercializing so many innovative technologies,” said Ronald Kaese, director of federal programs. “Each year we’ve been able to help build more sustainable companies, creating well paying, high-tech jobs.”
The award will be presented at the virtual Awards Ceremony during the FLC Mid-Atlantic Regional Meeting being held on Tuesday, November 10, 2020. More information can be found at https://federallabs.org/flc-regions/mid-atlantic/mid-atlantic-region-meeting
TEDCO enhances economic development growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology companies in Maryland.
Tammi Thomas, Vice President, Marketing & Communications, TEDCO