A new economic development tool to support Public Higher Education Institution (PHEI) created or sponsored technology companies and entities locating in Baltimore City. 

Criteria:

• Applicants must be nominated by their academic institution.
• Applicants must create high wage jobs (150% of minimum wage) in Baltimore City.
• Affiliated entities include those based on Intellectual Property owned by a Maryland PHEI and/or entities with founders who are current students or who graduated from a Maryland PHEI within the last ten years.
• Entities who have a significant and vital collaborative relationship with a Baltimore City PHEI may also qualify.

Benefits:

• For Emerging Entities
• Provides 50% rent subsidies up to $6,000 for office space and $12,000 for wet lab space.
• Must be accepted by an affiliated innovation center in Baltimore City, including:
• Fast Forward at JHU
• Harbor Launch at IMET
• University of Maryland BioPark
• Emerging Tech Center (ETC)
• For Established Employers
• Provides a one-time conditional grant, loan or investment based on job creation.
• Recipients must create new jobs in Baltimore City by opening a new facility or expanding an existing facility.
• Recipients must have a significant economic development impact.

Reporting Requirements:

• Companies are required to report economic impact for three years after receiving the subsidy.
• Reports must include the number of jobs, increase in revenues and/or investments, and collaborations with Maryland PHEI.