Applications for the new Maryland Global Gateway program are now available. At the World Economic Forum in Switzerland earlier this year, Gov. Larry Hogan announced an inaugural $2 million investment in this innovative program, which helps attract more international businesses and eases their transition into the U.S. market by connecting them with local incubators and accelerators.
Applications will be accepted until Oct. 31. This initial $2 million investment will provide incentives for the first 50 eligible companies, including:
● Funding towards rent costs for six months for more than 20 business incubators and accelerators across the state;
● Assistance with business registration costs for foreign companies who choose to stay in Maryland; and
● Training, mentoring, matchmaking and networking through state government and local incubator programs.
There are 20 accelerators and incubators throughout the state currently participating in the initiative, which builds on the state’s Soft Landing Program announced last year during the SelectUSA Investment Summit.
Maryland businesses are also eligible for the program, allowing them to engage with partner incubators while exploring new markets abroad. Companies can apply for an ExportMD grant for up to $5,000 to help offset the cost of their participation.
In June, Hogan announced a partnership between Maryland and the Guinness Enterprise Centre in Ireland, which is the leading university-associated business incubator in the world. The partnership will focus on soft landing spaces, academics, and networking opportunities between the two regions.