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ROCKVILLE, MD – (November 05, 2010) – The Tech Council of Maryland (TCM), the state’s largest technology trade association, announced today that 40 members of the association were recipients of grants totaling more than $18 million awarded this week as part of the $1 billion Therapeutic Discovery Project.
The Therapeutic Discovery Project, which was created under the healthcare reform package passed earlier this year, is intended to accelerate development of therapies and cures that will help reduce healthcare costs in the future. The credit is available to companies with 250 employees or fewer and covers up to 50 percent of qualified investments to provide an immediate boost to U.S. biomedical research.
“We would like to congratulate our 40 TCM members for being awarded these prestigious grants,” said Renée M. Winsky, CEO of the Tech Council of Maryland. “Maryland is a leading state for biotech research and development, and we believe the grants that our members have received will continue to foster these businesses for years to come.”
TCM members that received grants include:
ABOUT THE TECH COUNCIL OF MARYLAND
The Tech Council of Maryland (TCM) is the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. TCM’s mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed. For more information, visit www.techcouncilmd.com.