Financial Opportunities and Ecosystem Connection

The Maryland Momentum Fund is a $21 million early-stage investment fund that helps promising early-stage companies bridge from grant funding and angel investment to a Series A round of investment. To qualify companies must be affiliated with a University System of Maryland institution (locating in the BioPark may constitute affiliation), be based on in Maryland, and secure co-investment.

The Baltimore Fund provides direct awards and subsidies to qualifying companies locating or expanding at designated locations within Baltimore City, including in the BioPark.

The Wexford SciTech Venture Fund invests in early and late-stage seed opportunities with a focus in life sciences and technology companies. 

TEDCO’s tailored funding programs support the growth of early-stage technology and life sciences companies based in Maryland. 

Maryland offers a range of financial incentives, including venture capital investments and tax credits, direct loans, grants and loan guarantees, for companies locating and expanding in the state.

Enterprise Zone Tax Credit

The Maryland Enterprise Zone (EZ) program provides real property and state income tax credits for businesses located in a Maryland enterprise zone in return for job creation and investments. Businesses located in Focus Areas may be also qualified for personal property tax credits on new investment in personal property and enhanced income tax credit for creating new jobs.

One Maryland Tax Credit

Provides an income tax credit for qualifying businesses that move into or expand in a “Priority Funding Area” (which includes Baltimore City).

Biotechnology Investment Incentive Tax Credit

The Biotechnology Investment Incentive Tax Credit provides an income tax credit to qualifying companies. Enhanced tax credits are also available for investors who invest in qualifying companies located in Opportunity Zones or RISE Zones. 

Research and Development Tax Credit

For businesses that incur qualified research and development (R&D) expenses in Maryland, the business may receive a basic R&D tax credit.

The BioPark campus is included in the federal Historically Underutilized Business Zones (HUBZone). The HUBZone program fuels small business growth in historically underutilized business zones with a goal of awarding at least 3% of federal contract dollars to HUBZone-certified companies each year.

In addition to funding programs, TEDCO offers a wide range of resources and connections that early-stage technology and life sciences companies need to thrive in Maryland. 

The Maryland Department of Commerce recognizes the Life Sciences industry as a key driver of Maryland’s economy. Check out their website to learn more about resources and to connect with the Commerce Life Sciences team. 

Looking to make connections and identify partners in the life sciences industry? The Maryland Life Sciences Directory is a free tool for exploring more than 1,800 profiles of companies active in Maryland’s robust life science markets, including biotechnology, medical technology, pharmaceuticals, digital health, manufacturing, regulatory services, and related subsectors. Explore company profiles for an overview of business activities, products, and services, and to connect with potential partners.

For life science news and event information from Commerce, subscribe to their newsletter.

UpSurge Baltimore, in partnership with the Greater Baltimore Committee, is building a thriving ecosystem for innovation and startup advancement in the Baltimore region. Their BMore Tech Connect platform is a one-stop digital platform for startup resource navigation in the Baltimore Region. Entrepreneurs can leverage BMore Tech Connect to find the right programs, events, and opportunities fit for their stage, industry, and sector.