Center for Maryland Advanced Ventures
The Baltimore Fund encourages university-created or sponsored technology companies to locate and expand in Baltimore City. Since the fund’s creation, awards have supported companies from seven Maryland public higher education institutions. In FY22, the Baltimore Fund brought UMCP’s I-CORPS program to Baltimore City to support and train entrepreneurs as they develop their research or technology-based business ideas. CMAV initiatives also mentor UMB and UMCP students on the unique challenges of commercialization in the life sciences industry, and it provides creative, collaborative support and funding to entrepreneurs. Since 2017, 62 entities have benefited from Baltimore Fund grants and investments, and more than 640 jobs have been created or retained in Baltimore City.
The Maryland Momentum Fund (MMF)
The Maryland Momentum Fund (MMF), is a University System of Maryland (USM) $16 million early-stage investment fund that invests in Maryland-based, USM-affiliated startup companies, helping them bridge from early success to next stage of growth, often a large investment round, commercial launch, or commercial expansion. The full-time managing director is based at UMB and funded by CMAV, which also provides additional support and operational expenses for the fund. Since 2017, MMF has invested $10.6 million in 28 companies, representing eight USM institutions; matched $91.1 million from more than 150 unique co-investors, and created 140 new jobs.
Fiscal Year 2022 Report
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