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Clients in the News – FITCI Receives Pre-Seed Investment from TEDCO’s Rural Business Innovation Initiative

Pictured from left to right) Chuck Ernst, RBI2 Mentor; Dr. Xiaonao Liu, Founder & CEO of Nanobiofab; Dr. Ruoting Yang, Co-founder of Nanobiofab; and Neil Davis, Director of Entrepreneurial Development

TEDCO’s Rural Business Innovation Initiative (RBI2) announced its latest pre-seed investment in two rural-based companies—Nanobiofab and GOEFER. As recipients of RBI2 investments, the companies will receive ongoing mentoring and funding to continue their product development into commercialization. Both based in Frederick, Md., Nanobiofab and GOEFER are part of the non-profit business incubator company, Frederick Innovative Technology Center, Inc. (FITCI).

“Through this program, we’re able to guide companies to commercialization, while providing mentorship and assistance every step of the way,” said Chuck Ernst, RBI2 mentor. “Companies that are awarded funding through RBI2are driven by some of the most innovative leaders in the state, and these two companies specifically are exemplary examples of the entrepreneurial opportunities we strive to provide.”

Nanobiofab creates wearable nano-material based technologies using state-of-the-art customized inkjet printing nano-techniques. The nano-materials and bio-products created are used to detect minute molecules emitted from the skin for real-time tracking of fat consumption and potential disease diagnosis.

“TEDCO’s support has played a significant role in our move to market,” said Dr. Xiaonao Liu, founder and CEO of Nanobiofab. “Our products are life-changing, and through this program, we can use the unmatched mentorship and guidance from TEDCO to become playmakers in the healthcare technology industry.”

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