The Baltimore Fund
The Baltimore Fund stimulates economic advancement in Baltimore City by supporting Maryland Public Higher Education Institution (PHEI) -created or -sponsored technology companies and affiliated entities locating in the city.
Applicants must locate in Baltimore City
Applicants must create high wage jobs (150% of minimum wage)
Affiliated entities include:
Those based on Intellectual Property owned by a Maryland PHEI with the support of the institution
Entities with founders who are current students or who graduated from a Maryland PHEI institution within the last ten years
Entities that have a significant and vital collaborative relationship with a Maryland PHEI Institution may also qualify
- Provides 50% rent subsidies for first year of rent
- Up to $6,000 for office space
- Up to $12,000 for wet lab space
- Must be accepted by an affiliated innovation center which provides support services that can contribute to company growth, including:
- Fast Forward at Johns Hopkins University
- Harbor Launch at the Institute for Marine and Environmental Technologies
- University of Maryland BioPark
- Emerging Tech Center (ETC)
- LifeBridge Health BioIncubator
- Additional benefits may be available for significant job creation
- Provides a one-time conditional grant, loan, or investment to support the opening of a new facility or expansion of an existing facility
- Awards will be based on job creation, economic development impact, and/or PHEI impact
- Must be leveraging funds to create economic opportunities in Baltimore City
- Preference given to programs that encourage diversity, equity, and inclusion of underserved populations
- Companies are required to report economic impact for three years after receiving funding.
- Reports must include the number of jobs, increase in revenues and/or investments, collaborations with Maryland PHEI, and other mutually agreed upon terms.
For more information, contact Mary Morris,
Director of the Baltimore Fund.
A partnership between
Baltimore Development Corporation, Maryland Department of Commerce, and University System of Maryland