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The mission of the Department of Business and Economic Development (DBED) is to create, attract and retain jobs while promoting the state's vibrant culture and history.
Biotechnology Investment Tax Credit
Maryland's Biotechnology Investment Tax Credit program provides income tax credits for investors in qualified Maryland biotechnology companies. This tax credit program was passed to offer incentives for investment in seed and early stage, privately held biotech companies.
The Maryland Industrial Partnerships (MIPS) program accelerates the commercialization of technology in Maryland by jointly funding collaborative R&D projects between companies and University System of Maryland faculty.
The role of the Maryland Technology Development Corporation (TEDCO) is to be Maryland's leading source of funding for seed capital and entrepreneurial business assistance for the development, transfer and commercialization of technology.
The Maryland Venture Fund (MVF) has established a track record of investing in some of the most promising technologies that the state has to offer. The fund has two investment vehicles: the Challenge Investment Program and the Enterprise Investment Fund. Combined, the fund has invested over $45 million since 1994 in more than 175 companies.
The US Small Business Administration (SBA) Office of Technology administers the Small Business Innovation Research (SBIR) program ensuring that the nation's small, high-tech, innovative businesses are a significant part of the federal government's research and development efforts.
Maryland Health Care Product Development Corporation (MHCPDC) is a supporting organization of the Tech Council of Maryland (TCM). Its goal is to stimulate growth of the biomedical industry in the state through "early stage" investment with promising Maryland biomedical and medical technology companies.
The Mid-Atlantic Venture Association (MAVA) fosters the development and growth of business enterprise by creating a forum for the interaction of the providers of private equity, their service providers, and successful entrepreneurs in the mid-Atlantic region.