USM Launches $25 Million Maryland Momentum Fund to Back Start-Up Companies Formed from Campus Research
Tuesday, April 4, 2017
Adelphi, Md. (March 16, 2017) -- To increase new company creation and commercialization of its leading-edge research, the University System of Maryland (USM) is launching a $25 million early-stage investment fund to be known as the Maryland Momentum Fund.
The money-raising process for start-up companies typically is an uneven one. Therefore, the Maryland Momentum Fund will concentrate on filling gaps in the funding pipeline to push USM's most innovative ideas into the marketplace.
With a $10 million commitment from the USM already in place, the system is collaborating with UM Ventures and the University of Maryland, Baltimore County (UMBC) to reach out to area venture capitalists and angel investors for an additional $15 million. UM Ventures is a joint initiative of the University of Maryland, Baltimore (UMB) and University of Maryland, College Park (UMCP) to commercialize technologies and expand industry collaboration.
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