Center for Maryland Advanced Ventures (CMAV)
Created by The University of Maryland Strategic Partnership Act of 2016, the Center for Maryland Advanced Ventures (CMAV) amplifies the impact of university-based research and facilitates technology transfer. Strategic initiatives and programming works collaboratively with existing programs offered by UM Ventures, TEDCO (Maryland Technology Development Corporation), and the Maryland Department of Commerce to advance commercialization, support entrepreneurship, and drive economic growth. Some of the programs and initiatives include seed grants, UMB Institute for Clinical & Translational Research, Medical Device Development Fund, Life Sciences Intellectual Property Fund, Specialized Wet Lab and Prototyping Facilities, Chesapeake Digital Health Exchange @UMB Digital Health Pre-Accelerator, business development support.
Two signature CMAV programs include the Baltimore Fund and the Maryland Momentum Fund:
- 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), 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.
To view CMAV’s Fiscal Year 2022 Report, click on the image below:
To learn more: UM VENTURES