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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.

Criteria

  1. Applicants must locate in Baltimore City

  2. Applicants must create high wage jobs (150% of minimum wage)

  3. 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

Benefits

Emerging Entities

  • 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

Established Employers

  • 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

Enabling Initiatives

  • Must be leveraging funds to create economic opportunities in Baltimore City
  • Preference given to programs that encourage diversity, equity, and inclusion of underserved populations

Reporting Requirements

  • 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.

Apply Now

A partnership between
Baltimore Development Corporation, Maryland Department of Commerce, and University System of Maryland