The first opportunity, aimed at growing Maryland’s early-stage technology companies with help from investors, the Maryland Innovation Investment Tax Credit program has officially launched. The program, which has $2M in funding for Fiscal Year 2022, will also help increase overall investments in current and emerging tech sectors, and boost the number of individual investors in Maryland, including Washington County tech companies.
Applications from potential qualified Washington County, MD 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.
“Early startup tech companies are vital in growing jobs in Washington County, MD. The Maryland Innovation Investment Tax Credit program encourages investment and helps tech startups compete in new industries that have a potential for tremendous job growth,” said Linda Spence, Business Specialist of the Washington County Department of Business Development.
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