6/28 DEADLINE to reserve your place in line for Maryland’s
FY2014 Biotechnology Investor Incentive Tax Credits.
$10M (up to $1.5M/co.) distributed first come-first served to investors in MD QMBCs*:
QMBC requirements include:
- At least 1 full time employee (cash compensated, not equity) & fewer than 50employees; and
- A lease or ownership oflab or office space in Maryland; and
- $100,000 in capitalization (sources:equity, convertible debt, long term loans, SBIR financing); and
- Evidence of innovative biotechnology research owned by the company and conducted in MD; and
- BIITC participation for 10 or fewer years; or
- For first time applicants: 10 or fewer years in business (12 years if in a FDA regulatory process)
If your firm qualifies for QMBC certification by Maryland’s Department of Business and Economic Development (DBED), your investors may be able to receive a 50% credit on their investments in your company.
6/28 is the deadline to apply to receive a pin number providing access to the 7/8/13 electronic line-up for FY 2014 BIITC funds.
For more information regarding the BIITC and other state funding programs and access to the BIITC investor and company application forms on the DBED web site, check online: www.Bio.Maryland.gov.
*QMBC status will not be determined until after the electronic line-up as applications are being reviewed.
**Additional funds may be available after those requested at the initial electronic line-up on 7/8/2013.