Investing in Our Small Businesses

The Maryland Department of Business and Economic Development (DBED) was awarded $7.6 million yesterday through the U.S. Treasury Department’s State Small Business Credit Initiative to (SSBCI) to assist small businesses.

This is the second planned allotment since 2011 and this round of funds will primarily go towards the Maryland Venture Fund (MVF), the State’s main equity investment program and one of the most active venture investors in the region. The MVF previously received $4.8 million in SSBCI funding, which it used to invest in 14 companies, including Frederick's own Luminal, a cybersecurity startup who received $600K though the Fund.

With nearly two decades of experience and numerous successful investments, MVF invests in highly innovative technology companies across the full range of industry sectors including software, communications, cybersecurity and life sciences companies in the areas of healthcare IT, medical devices and diagnostics.

Interested in taking advantage of these dollars? Start your pitch here!