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Capital One Launching 'Innovation Lab' In College Park's Discovery District As Part Of New UMD Partnership

The Hotel at UMD College Park
The Hotel at UMD in College Park, Southern Management's new $180M project

One of the largest D.C.-area financial institutions is teaming up with one of its top universities to develop a high-tech talent pipeline. 

Capital One is investing $3M as part of a partnership with the University of Maryland that will include the opening of a 7,500 SF innovation lab along Route 1 in College Park

The facility will sit behind the new Hotel at UMD in a space College Park is calling the "Diamodback Garage." It is part of the Discovery District, a 150-acre area between Route 1 and the College Park Metro station where College Park, the university and private partners plan to invest $2B to attract companies. 

“We are taking a major step forward in growing the Discovery District with Capital One’s presence in a new and dynamic facility located in Diamondback Garage,” UMD Chief Economic Development Strategy Officer Ken Ulman said in a release. “This means more jobs for Greater College Park, more vibrancy in our surrounding communities, and a new model for how the university can engage private sector partners.”  

The investment from the McLean-based bank is aimed at giving students skills in machine learning, data analytics and cybersecurity. It is giving $2.1M, which the Maryland Department of Commerce is matching, to endow a faculty chair in the Department of Computer Science focused on machine learning. The additional $900K will support research and educational initiatives.