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The Baltimore Fund

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