The Baltimore Fund
Goal: Locate and develop companies affiliated with Maryland Public Higher Education Institutions (PHEI) in Baltimore City.
Partners: Baltimore Development Corporation, Maryland Department of Commerce, and University System of Maryland
1. Provide rent subsidies to early-stage companies affiliated with Maryland PHEI locating in affiliated Baltimore City innovation centers. Subsidy levels:
|Co-working space||100% subsidy for six months|
|Office space||50% subsidy for one year up to $6,000 per company|
|Lab space||50% subsidy for one year up to $12,000 per company|
- Affiliated companies include companies based on IP owned by a Maryland PHEI and/or companies with founders who are current students or who graduated from a Maryland PHEI within the last ten years. - Companies must be nominated by their academic institution and accepted by an affiliated innovation center in Baltimore City, including:
- Fast Forward at JHU
- Harbor Launch at IMET
- University of Maryland BioPark
- Companies are required to report economic impact for three years after receiving the subsidy, including the number of jobs, amount of funding raised, and collaborations with Maryland PHEI.
2. Provide conditional grants to established companies with significant collaborations with one or more Maryland PHEI. - Companies must be nominated by one or more Maryland PHEI. - Companies must create new jobs in Baltimore City by opening a new facility or expanding an existing facility.