BALTIMORE, MD (October 26, 2021) — The Maryland Department of Commerce has launched the Maryland Innovation Investment Tax Credit, which will help foster the growth of the state’s technology sectors by incentivizing investment in early-stage companies. The program, which has $2 million in funding for FY 2022, will also help increase overall investments in current and emerging tech sectors, and boost the number of individual investors in Maryland tech companies.
Applications from potential qualified Maryland technology companies are now being accepted. To submit an application, click here. To be eligible, a company must have 50 employees or less; an aggregate capitalization of at least $100,000; and be in a qualifying tech sector, which includes advanced manufacturing, aerospace, agriculture, artificial intelligence, blue technology, cybersecurity, education, energy and sustainability, financial, life sciences, quantum, and sensors and robotics.