Business Resources
Life Sciences Funding
Maryland Life Sciences Funding
When it comes to federal funding, Maryland leads the way, with abundant federal dollars flowing to local life sciences regularly. And, year-after-year, venture capitalists are upping investments in Maryland’s life sciences companies. In addition to federal and VC funds, a variety of state programs are available to boost our local life sciences companies.
Biotechnology Investment Incentive Tax Credit
Provides an investor with an income tax credit equal to 33% of an eligible investment in a qualified business up to $250,000 in tax credits, or 50% of an eligible investment in a qualified business up to $500,000 in tax credits if the business is located in designated areas.
Research and Development Tax Credit
Businesses that have qualified R&D expenditures in Maryland may qualify for two state income tax credits, the Basic R&D Tax Credit and the Growth R&D Tax Credit.
Maryland Innovation Investment Tax Credit
Maryland Innovation Investment Tax Credit: Targeted at tech companies working to raise venture capital. The tax credit program incentivizes investors who invest in local companies
Job Creation Tax Credit
Businesses that create a minimum number of new full-time positions may be entitled to state income tax credits of up to $1,000 per job or $1,500 per job in a "revitalization area.”
TEDCO Funding
TEDCO (Maryland Technology Development Corporation) is a source of funding for local early-stage, technology-based businesses. The organization, a quasi-public state agency, offers a variety of funding programs for life sciences businesses, including a STEM Cell Research Fund and Maryland Innovation Initiative.
SCALEUP MD
A program that is co-sponsored by the Maryland Department of Commerce and T. Rowe Price, and offers a great opportunity for executives from companies with revenues up to $10 million to develop the tools needed to continue to grow and expand across the state.
Maryland Industrial Partnerships (MIPS)
Maryland Industrial Partnerships (MIPS) - Grants for technology product development. MIPS provides funding, matched by participating companies, for university-based research projects that help the companies develop new products.
