Regional Civic and Business Leaders Join to Celebrate Official Submission of Tech Hub Bid

FOR IMMEDIATE RELEASE: August 24, 2023 MEDIA CONTACT: Amy Burke Friedman, PROFILES 410-243-3790 / afriedman@profilespr.com REGIONAL BUSINESS AND CIVIC LEADERS COME TOGETHER TO CELEBRATE THE OFFICIAL SUBMISSION OF THE GREATER BALTIMORE REGION TO BECOME A FEDERAL TECH HUB Designation as a federal Tech Hub through the U.S. Economic Development Administration program would provide the Greater Baltimore region with eventual access to a share of $10 billion in funding as part of an effort to catalyze the growth of burgeoning tech markets across the United States (Bal�more, Md.) – Regional business and community leaders joined the Greater Bal�more Commitee (GBC) today to celebrate the official submission of the Greater Bal�more Region (MSA) to become a federal Tech Hub designa�on. The landmark ini�a�ve would provide tech-focused en��es in the region access to a share of $10 billion in funding as part of an Economic Development Administra�on program launched by the Biden Administra�on to s�mulate the growth of burgeoning tech markets across the United States. Held at Morgan State University’s Center for the Built Environment and Infrastructure Studies, members of the 38-en�ty consor�um involved with shaping the submission joined with academic and civic leadership from across the region, for an overview provided by the Greater Bal�more Commitee on the extensive applica�on process.

"Being designated as a Tech Hub by the federal government will catalyze a transforma�ve era of growth, innova�on, and equitable economic opportunity for the Bal�more Region. While compe��ve, the Tech Hub program was designed to support regions like ours; collabora�ve communi�es with the poten�al to propel to the forefront of the tech revolu�on,” said Mark Anthony Thomas, President and CEO of the GBC. “If we are going to make this Maryland’s decade then we need to be at the forefront of the tech revolution and to take part in programs like the Federal Tech Hub that will help get us there,” said Governor Wes Moore. “The support that this program would bring to the Baltimore region would help us grow a more equitable economy that is full of opportunity, and quality jobs. I applaud the dozens of businesses and organizations that have put this proposal together to help us create a Maryland that leaves no one behind.”

“Fearless is proud to be part of the growing tech ecosystem in the region. Through our incubator, Hutch, we have been able to help create more digital services companies led by women and people of color.

Greater Bal�more’s designa�on as a federal tech hub will be a game-changer for the region and the state in our con�nued efforts to drive tech commercializa�on, create jobs, and scale companies,” said John Foster, Chief Impact Officer, Fearless.

"Embracing the Tech Hub designa�on is an opportunity of great significance, one that resonates far beyond the business realm. The Greater Bal�more Commitee's pursuit of this designa�on underscores our shared belief that predic�ve health technologies will not only revolu�onize industries but upli� our en�re region. Our region’s strength in healthcare and life sciences, coupled with ongoing collabora�on

with the burgeoning tech ecosystem, exemplify our shared commitment to innova�on. By harnessing the power of data science and biotechnology, we're poised to become a leader in predic�ve health, posi�vely impac�ng individual pa�ent’s and community health. The region's poten�al is vast, and this Tech Hub designa�on will be the catalyst for propelling us into a future where innova�on and well-being converge," said Mohan Suntha, MD, MBA, President and Chief Execu�ve Officer of the University of Maryland Medical System (UMMS) and Chair of the GBC Board of Directors.

The applica�on to become one of at least 20 new Tech Hubs was a unified and coordinated effort supported by dozens of businesses and organiza�ons throughout the Greater Bal�more region and included the private sector (firms and venture capital investors in Biotech and AI technology areas), higher educa�on (universi�es and academic accelerators), economic development, and workforce development. The consortium members included: 23. LaunchPort 1. Morgan State University (HBCU) 24. Greater Bal�more Commitee 2. Coppin State University (HBCU) 25. Bal�more Development Corpora�on 3. Johns Hopkins University 26. Bal�more County Economic 4. Loyola University Maryland Development 5. UMMS 27. Howard County Economic 6. UMB Development 7. UMBC 28. Anne Arundel County Economic 8. Towson Development 9. Maryland Department of Commerce 29. Harford County Economic Development 10. TEDCO 30. Carroll County Economic Development 11. Bal�more Metropolitan Council 31. Queen Anne’s County Economic 12. City of Bal�more Development 13. Upsurge Bal�more 32. Cecil County Economic Development 14. Fearless 33. Catalyte 15. Conscious Ventures Partners 34. Npower 16. Blackbird Labs 35. Digital Harbor Founda�on 17. Early Charm Ventures 36. Abell Founda�on 18. Mindgrub 37. Last Mile Educa�on Fund 19. CareFirst BlueCross BlueShield of 38. World Trade Center Ins�tute Maryland 20. Evergreen Advisors 21. Fulton Bank 22. Bio Buzz The submitted bid was organized around two core focus areas: artificial intelligence and biotechnology, guided by the insight that the Region can lead in predictive health technologies, a tech subset that has the potential to improve health outcomes individually and systemically. Given the opportunity and funding, a designation has the potential to stimulate large-scale job creation, wealth creation, and mitigate health disparities in the region. The predictive technologies market is expected to be $70 billion globally by 2030, and GBC estimates that the total market opportunity for the Baltimore-focused portion could be $4.2 billion by 2030. The growth of this technology in the Baltimore MSA is estimated to create 52,000 jobs during that same time period.

"This endeavor exemplifies the incredible strength of collabora�on, with diverse sectors uni�ng to pave the way for las�ng economic transforma�on,” said Pothik Chaterjee, Chief Economic Officer for the GBC. “Many businesses and organiza�ons across the region are already making impressive strides in the

tech arena. With this submission, we find ourselves on the verge of an exci�ng future that benefits the Greater Bal�more Region – its businesses, economy, livelihood – in many ways.”

Designa�on decisions are an�cipated in September at which �me, if selected as a designee, the Greater Bal�more Region (MSA) will be invited to move forward to Phase 2 for funding in Fall 2023 and early 2024. An ini�al pool of $500 million of the $10 billion has been allocated in the first phase.

“This effort commences our long-term commitment and investment to bring large-scale game changing opportuni�es to communi�es in need and innova�ons at the cusp of a breakthrough,” shared Thomas.

ABOUT GREATER BALTIMORE COMMITTEE: The Greater Bal�more Commitee (GBC) is the leading voice for the private sector in the Bal�more region, providing insigh�ul economic and civic leadership to drive collec�ve impact. Composed of more than 500 organiza�ons, including large, mid-size, and small companies, nonprofits, founda�ons, and educa�onal and healthcare ins�tu�ons, the GBC is dedicated to fostering the prosperity of the Greater Bal�more region. For more informa�on, visit gbc.org. ###