Year In Brief FY 2016
In fiscal year 2016, Johns Hopkins Technology Ventures forged ahead in its mission to bring forward technologies that will better society and shape our local economy. The following data demonstrate more than our progress. They are guides informing our move-forward strategies, enabling us to accelerate our impact.
JHTV continues to invest in flexible, affordable and strategically located facilities that empower entrepreneurs to advance innovation, delivering solutions around the world and driving Baltimore’s economic development.
FastForward innovation hubs provide the affordable co-working, office and laboratory space that startups need.
Located in East Baltimore, the 6,000-square-foot FastForward East hub also offers educational events geared to startups; provides one-on-one mentorship; facilitates meetings with key figures, including venture capitalists; and encourages collaborations between entrepreneurs and researchers.
FastForward Homewood, a 12,000-square-foot hub less than a mile from The Johns Hopkins University’s Homewood campus, has operated at capacity since opening in 2013.
Coming Soon – FastForward 1812
FastForward 1812 will open in early 2017 at 1812 Ashland Ave., expanding our offerings in East Baltimore. The innovation hub will have 8,000 square feet of office and co-working space, 15,000 square feet of wet lab space and other features, including:
- Shared desks and private office space
- Shared BSL2 benches and private BSL2 wet labs
- State-of-the-art conferencing and event space
- Cell culture, microscopy and cold storage rooms
- Unlimited coffee to fuel inspiration
Coming Soon – FastForward R. House
Plans are underway to move FastForward Homewood from the Stieff Silver building into a hub designed specifically with startups in mind. Opening in mid-2017, the new FastForward Homewood will have 9,000 square feet of office, meeting and lab space at R. House in Baltimore’s Remington neighborhood, a burgeoning hub for entrepreneurship within blocks of the Homewood campus.
JHTV has continued investing in services needed to support innovation, including a number of programs that enable startups to navigate unfamiliar territory.
Social Innovation Lab
This year, SIL received a record 61 applications to join its 2016 cohort, which included non-Johns Hopkins entities for the first time. Eight startups completed the seven-month program, which helps nonprofits and mission-driven for-profits turn ideas into thriving ventures through funding, mentorship, space and training.
Fifteen experienced entrepreneurs, industry leaders and venture capitalists participated in this year’s Mentors-in-Residence program, helping to guide Johns Hopkins faculty members and startups along the commercialization path.
National Science Foundation’s I-Corps Program
Through I-Corps, scientists and engineers learn to think outside of the lab, develop business plans and perform customer discovery projects. The number of participating teams increased from 18 in fiscal year 2015 to 26 in fiscal year 2016, including seven from outside Johns Hopkins. This year, four of our startups qualified for the national program.
University Technology Showcase
The two-day event in April — a regional showcase and collaboration between Johns Hopkins, Greenspring Associates, the University of Pennsylvania and the University of Virginia — attracted nearly 200 entrepreneurs, faculty members, venture capitalists and corporate executives who discussed emerging opportunities and trends within health care facilitating open dialogue and long-term relationships.
The Commercialization Academy
This program helps university students move Johns Hopkins technology from “manuscript to marketplace.” In fiscal year 2016, 15 student fellows in the Commercialization Academy received technology commercialization experience, exposure to innovative technologies and skills for starting a career in science.
New Legal Support Program
For the first time, in fiscal year 2016, four law firms provided pro bono incorporation work and monthly office hours to help FastForward startups navigate the legal challenges associated with growing a business. All four firms — DLA Piper, Saul Ewing, Venable and Whiteford Taylor Preston — have local Baltimore offices.
Johns Hopkins University Bootcamp for Technology Entrepreneurs
Co-hosted by the Johns Hopkins Carey Business School and the Johns Hopkins University Whiting School of Engineering, the summer 2015 boot camp featured 16 mentors and 16 guest speakers who showed an audience representing diverse disciplines how to move ideas from laboratory to market.
FastForward Educational Series
Nearly 1,200 entrepreneurs from startups at all stages and others in the innovation ecosystem signed up for events that JHTV hosted throughout fiscal year 2016. Highlights included a discussion with Nobel Prize recipient Randy Schekman and a series that focused on hot topics among startups, like equity, what investors want to see and how to use QuickBooks.
In fiscal year 2016, JHTV worked hard to help startups and early ventures attract funding to support their work. A combination of new, existing and expanded funding opportunities helped early ventures bridge the “valley of death” in funding and move forward in their endeavors.
Louis B. Thalheimer Fund for Translational Research
Three researchers received a combined $204,000 in fiscal year 2016, the first-ever distributions from the $5.4 million Thalheimer Fund, to produce proof-of-concept, prototype and commercial feasibility studies that will help move their technology toward commercialization.
- Hai-Quan Mao – Nanofiver-Hydrogel Composites for Soft Tissue Reconstruction
- Ahmet Hoke – Validation of Novel Ethoxyquin Analogues in Chemotherapy-Induced Peripheral Neuropathy Models
- Francoise Marvel – The Johns Hopkins HEALTH-E Application
Ralph S. O’Connor Undergraduate Entrepreneurship Fund
This award provides funding for an experiential learning opportunity for students working on startups and startup ideas. Six teams received O’Connor grants in fiscal year 2016, and each received $5,000 up front with the chance to earn an additional $5,000 for meeting milestones.
- MoTrack Therapy
- Touch Plus
Student Entrepreneurship Award
Awarded for the first time this year, this fellowship provided Fusiform with $10,000, allowing the company comprising 12 Johns Hopkins undergraduates to grow in Baltimore over summer break. Funding from the anonymous donor runs through 2020.
Accelerator Translational Incubator Pilot
Managed by the Johns Hopkins Institute for Clinical and Translational Research, this program awarded five grants ranging from $50,000 to $95,000 in fiscal year 2016 to fund projects aiming to improve clinical interventions.
The Johns Hopkins University-Coulter Translational Partnership
Eight teams of biomedical engineers and practicing clinicians received funding ranging from $25,000 to $100,000 to move research collaborations closer to commercialization. Since its inception in 2011, Coulter funding at Johns Hopkins has awarded $3 million to 31 teams.
The Maryland Innovation Initiative
Designed to advance the commercialization of technologies emerging at select Maryland research institutions through technology validation, market assessment and the creation of startups, the Maryland Innovation Initiative program awarded grants totaling $3.1 million to 24 FastForward teams in fiscal year 2016.
JHTV had 13 active collaborations in fiscal year 2016 that worked to bring Johns Hopkins technology to market. Highlights include:
In April, The Johns Hopkins University closed a 10-year deal with pharmaceutical company Celgene and three peer institutions that could provide $300 million to bring new oncology therapies to patients. As part of the agreement, Johns Hopkins and the peer institutions each received $12.5 million up front. Other notables include:
- Largest deal between academia and industry in Johns Hopkins history
- Partnership with the University of Pennsylvania, Columbia University and Mount Sinai
- Deal complements efforts at the Bloomberg~Kimmel Institute for Cancer Immunotherapy
In fiscal year 2016, JHTV continued collaborating with AstraZeneca’s global biologics research and development arm MedImmune. The partnership runs through fiscal year 2019, and 11 projects are in the works.