D.C. leaders Tuesday launched a major economic initiative to make the city the largest technology center on the East Coast. It's part of the mayor's five year plan and this latest push aims to help small tech firms with business-friendly solutions.
For three decades, D.C.-based Bioscan has been creating molecular imaging equipment used for research and developing new therapies. One of its success stories is the Bioflect, an imaging system now found in the global market. But the company's vice president of marketing says one of the greatest challenges as a small business has been securing funding for the project.
"Submission of a grant application, review, feedback, refinement of the grant proposal, resubmission of the grant proposal, it's quite a process," says Alex Kleinman.
It's a process that the District now wants to facilitate.
"And that's exactly what ConnecTech will do by helping small biotech companies like Bioscan get connected to funding, technical assistance and business opportunities that support early stage technology innovation and development," says Mayor Vincent Gray.
City leaders, along with the Small Business Administration, announced Tuesday a commitment to put tech firms on the map. It's just one part of a long-term strategy to create 1,000 new jobs and attract $1 billion in revenue for the city.
"This program directly supports our five year economic development goal of becoming the largest technology center on the East Coast," says Gray.
The District is home to about 2,000 tech companies and Mayor Gray says he wants to see that number grow.
"Together we will involve the best academic institutions in our innovation ecosystem and double the number of tech jobs and the amount of capital invested in our technology system," says Gray.
The program is open to small D.C.-based technology companies.
For more information, click here.