Maryland Innovation Lab launches cohort focused on decarbonization

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The Maryland Department of Commerce, in partnership with three local businesses, launched the second cohort of the Maryland Innovation Lab this summer, focusing on decarbonization.  

L Marks and the World Trade Center Institute have partnered with MDC and Baltimore Gas & Electric, Pompeian and Capital Logistics. Pompeian, an olive oil brand, also participated in the first cohort.

“With Maryland advancing bold decarbonization and affordability goals, this next cohort is more critical than ever,” said Daniel Saunders, CEO of L Marks, a global company based in London that has pioneered over 100 of these programs.  

Startups from around the world will be able to pitch innovative solutions next month in Baltimore for their chance to be selected for the program. After they are selected from the pool of 20-25, these entrepreneurial ventures will work closely with the companies on sustainability, logistics and affordability.  

Saunders said that ecosystems typically build up around these innovation labs, benefitting both the businesses directly and the local economy as a whole. He believes the program can shine a new light on Maryland and help global organizations see Maryland as a “gateway” to the United States. 

The first step of the lab, after identifying startups, is to identify the needs of each company. Then, the partners will see through the process to ensure that innovative solutions are implemented and effective. Saunders predicted that the lab will drive investment and create more value for customers. 

“We’re going to see companies investing in the region and creating highly skilled jobs,” he said. 

The solutions will center on both the goals of each individual company and the broader sustainability objectives of the state. Saunders expects to move forward with similar collaborations in the future. 

The three companies plan to work on emissions tracking, exploration of cleaner fuels, usage of electric vehicles and other climate-friendly initiatives that will reduce their carbon footprints. 

The MDC has been strengthening ties with European nations in recent months. After an economic development trip to the United Kingdom, the department announced that two global cybersecurity companies planned to set up shop in Maryland. 

Irish artificial intelligence company Brightbeam also plans to locate a new office in the state. 

“We are excited to kick off this second cohort, which will bring Maryland companies together with companies from around the globe to help navigate some of the most pressing issues in our world today,” Maryland Secretary of Commerce Harry Coker Jr. said. 

Saunders said he’s returning to Baltimore soon to brainstorm the next focus of the innovation lab.