Adelphi, Md. (Feb. 6, 2018) – The University System of Maryland (USM) has selected NextStep Robotics, a start-up company that has developed a personalized robotic therapy to help relieve discomforts of “foot drop” syndrome in recovering stroke patients, as recipient of the second investment from the recently established Maryland Momentum Fund. The robotic therapy is based on research in the University of Maryland, Baltimore (UMB) School of Medicine, Baltimore Veterans (VA) Affairs Medical Center, and University of Maryland, College Park (UMCP) A. James Clark College of Engineering.
As part of an initial funding round of $750,000, the Maryland Momentum Fund is contributing $250,000. The USM Board of Regents established the fund to enable the system to invest in and support promising commercial opportunities arising from advances in research and intellectual property at USM campuses. Other critical sources in the funding round include money from four investors connected to the Fort Capital investment group in Vancouver, British Columbia.