Incubator Assistance Program
The TEDCO Incubator Assistance Program (the “Program”) is intended to assist Maryland’s incubators provide additional added value to their client companies. In order to insure the highest and best use of funds, the Program is a competitive process intended to reward the effective and efficient display of best practices such that the incubator’s impact on Maryland’s entrepreneurial ecosystem is maximized. Grant applications will be accepted from incubators and the highest scoring applications will receive highest consideration.
The Program will fund incubator initiatives that could not otherwise be funded by either the incubator or its client companies. These initiatives fall into two categories.
1) Assistive services provided to an individual portfolio company.
2) Assistive services provided to a group of incubator portfolio companies.
Funds may not be used for facility capital expenditures, facility operating expenses, staff salary support, or existing incubator programs not previously funded by a TEDCO Incubator Assistance grant.
All members in good standing of the Maryland Business Incubation Association are eligible to apply for the Program. Incubator companies assisted through the Program must be active incubator clients (i.e. those companies receiving assistive services from the incubator) and not anchor tenants or strategic partners. Program funds should be directed at companies with innovative or disruptive, technology-enabled business models. Whenever possible, Program funds should be directed at those IT and other non-life sciences companies that have been incubator clients for three (3) years or less, and those life sciences companies that have been incubator clients for five (5) years or less.
Applications are accepted from April 1 through June 30 and awards are made in mid-August. Incubators interested in receiving assistance should follow the detailed instructions in the RFA.