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Incubators - The Maryland Model
The goal of TEDCO’s business incubator assistance program is to promote the growth of technology companies in the State of Maryland through support of business incubators. Since its inception in 2001, TEDCO has been instrumental in building the incubation network in Maryland to become the most comprehensive and cohesive in the country. This “Maryland Model” includes a variety of support services available to the incubators and their companies.
Funding Resources:
To assist in determining whether or not to start or expand an incubator, TEDCO offers the Feasibility Study Grant program. This grant provides funding to a government, government-related or university-related organization to engage an outside consultant to research and write a feasibility study.
The Incubator Development Fund program provides funding for capital expenditures in the development of new and the renovation of existing technology incubators in the state. To date, the new facilities supported by this fund include the ETC@Johns Hopkins Eastern, the Silver Spring Innovation Center, the Rockville Innovation Center, the Frederick Innovative Technology Center@Hood, the Frederick Innovative Technology Center@Monocacy, the techcenter@UMBC, the Technical Innovation Center, and the Prince George’s County Technology Assistance Center.
TEDCO’s annual business assistance funding enables the existing technology incubators to enhance their service offerings through providing, for example, outside business consultants, entrepreneurial training, pro bono legal services, additional networking opportunities with investors and in depth strategy planning.
Other Resources:
TEDCO supports the incubators and their companies through other valuable programs. These include the Incubator Company of the Year Awards, the Working Capital Loan Fund and participation in the Maryland Business Incubation Association. Research studies on incubation issues are additional resources that TEDCO offers and makes available.
For further information, please contact:
Heidi Sheppard - hsheppard@marylandtedco.org or 410-715-4173
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