After two years of trying to raise capital for a new company aimed at marketing reseachers' ideas, The Johns Hopkins University and the Johns Hopkins Health System have gotten three corporations to invest $2.25 million.
Constellation Holdings Inc. of Baltimore, 3iVentures Corp. of Boston and Whiting-Turner Corp., a local construction company, have invested in Triad Investors Corp. Hopkins would not disclose how much each company invested.
Triad was formed in 1988 to identify research at Hopkins that can be marketed and to find seed money for the projects. Those projects are expected to develop into independent companies.
"Triad eventually should spin off research companies that will significantly aid economic development in Baltimore," according to Bruce M. Ambler, president and CEO of Constellation Holdings, a subsidiary of the Baltimore Gas and Electric Co.
Several projects have already been identified, including eyeglasses with miniature televisions to enhance vision.
In addition to the investments by the three companies, the university and health system each contributed $1.5 million for a total initial investment in Triad of $5.25 million. Hopkins had set its sights on raising at a minimum $10 million, and at a maximum, $30 million for Triad.