The Maryland Business Innovation Challenge (MDBIC), a unique program that will bring together the state’s corporate community with local innovators to solve real-time business challenges, launched today. The Maryland Department of Commerce is partnering with the Maryland Business Innovation Association (MBIA) on the program.
Through this initiative, larger corporations will submit “challenge statements” that will be distributed throughout the state’s innovation network. In response, Maryland’s innovation community – including startups, academia, and other small businesses – will pitch potential solutions. Participating corporations will benefit from access to talent, technology, and new ideas that may not be realized within their internal R&D efforts. Innovators will benefit from new professional relationships, customer feedback, market exposure, and ultimately unique and significant business opportunities.
Currently, IBM and Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShield, have committed to be MDBIC’s premier “Corporate Challengers.”
“We’re on a mission to develop a community and ecosystem around early-stage entrepreneurship that helps people live healthier lives,” said Emily Durfee, Healthworx program manager. “The Maryland Business Innovation Challenge is a unique opportunity for Healthworx to support healthcare entrepreneurs and the wider health innovation ecosystem, and collaboratively build a healthier future.”
Next fall, the Maryland Business Innovation Challenge Celebration will be held to share the many positive stories, outcomes, opportunities, and best practices that have been realized within this challenge.
Companies interested in becoming a corporate challenger or sponsor, email email@example.com. Sign up to receive updates or participate in the challenge.