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<July 2014>

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Frank Dickson, Program Director
Maryland Venture Fund

Michelle D. Jackson, Director
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InvestMaryland is a funding source for early, mid and late stage growth companies. Through a premium insurance tax credit auction sale, the State of Maryland raised $84M to invest in early stage technologies in the areas of software, communications, cyber-security and life sciences. Starting July 2012, InvestMaryland funds will be apportioned through the following three programs:

Venture Capital Firms (67%)  
Venture capital firms are being selected for potential investment awards by the Maryland Department of Business & Economic Development’s (DBED) Secretary. The Maryland Venture Fund Authority is managing the venture fund selection process and will recommend award recipients to DBED’s Secretary. Investment awards are projected to begin in July and end by December 2013. 

Maryland Venture Fund (24.75%)  
Maryland's state funded and early stage equity fund within DBED will invest new funds from InvestMaryland into emerging companies. To learn more about the program and how to apply you may contact Frank Dickson at 410-767-6383.

Equity Participation Investment Program (EPIP) (8.25%)  
A DBED program directed by the Maryland Small Business Development Financing Authority and managed by Meridian Management Group, EPIP is designed to expand business ownership by socially or economically disadvantaged entrepreneurs. To learn more about the EPIP program and apply please call Stanley Tucker at 410-333-4270.

How Does a Business Qualify to Receive Investments?

  • Industry focus in software, IT, cybersecurity, communications,
    life sciences or green technology
  • Fewer than 250 employees
  • Principal business operation located in Maryland
  • Use funds to support existing or new operations

Invest Maryland Milestones

     June 1, 2010
InvestMaryland Initiative launched by Governor O’Malley

May 19, 2011
Governor O’Malley signs InvestMaryland legislation into law

August 31, 2011
Governor O’Malley names Venture Fund Authority, a nine-member panel to oversee the administration and operation of InvestMaryland

March 15, 2012
$84 million generated through the State’s first online auction of premium tax credits to insurance companies with operations in Maryland

June 2012
InvestMaryland venture capital firms selected

September 24, 2012  
DBED Secretary makes initial awards to VC firms. Brainscope, which is pioneering sophisticated neurotechnology to quickly assess traumatic brain injury at the initial point of care, will receive the first $250,000 investment from the program. The Maryland Venture Fund had previously invested $250,000 in Brainscope.

Governor O'Malley announces the InvestMaryland Challenge



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