The Baltimore Fund is an economic development initiative that supports Maryland Public Higher Education Institution (PHEI) -created or -sponsored technology companies and entities locating in Baltimore 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 support of their institution

• 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 Maryland PHEI may also qualify.

Benefits

For Emerging Entities

• Provides 50% rent subsidies of first year rent
• Up to $6,000 for office space
• Up to $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)
• Additional benefits may be available for significant job creation

For Established Employers

• Provides a one-time conditional grant, loan or investment.
• Recipients must create new jobs in Baltimore City by opening a new facility or expanding an existing facility.
• Grants will be based on job creation, economic development impact and/or PHEI 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.

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