The University System of Maryland announced this month the launch of its Maryland Momentum Fund, which will provide $25 million to support startups formed within the system.
The university system has already committed $10 million to the initiative, and is working alongside the University of Maryland, Baltimore County as well as UM Ventures — a joint research and innovation program between this university and the University of Maryland, Baltimore — to obtain the remaining $15 million from local venture capitalists and angel investors, said Julie Lenzer, UM Ventures co-director.