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In a nutshell, the InvestMaryland Program is the largest venture capital investment in the State’s history and now the funding mechanism for the InvestMaryland Challenge – DBED’s first $300,000 business competition!
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-- Support a strong entrepreneurial ecosystem throughout the State-- Showcase the innovative ideas of seed and early-stage companies-- Connect businesses with a network of mentors and resources-- Attract next generation technologies and innovators to Maryland-- Build a pipeline of qualified business ventures for InvestMaryland and the Maryland Venture Fund
INVESTMARYLAND CHALLENGE is a national seed & early-stage business competition that will:
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WHO CAN QUALIFY?• No more than 25 employees and annual revenues of less than $1 million (per
last fiscal year’s earnings)
• Independent ventures in the seed, start-up, or early growth stages
• Good standing with the state in which they are legally registered
• Existing Maryland ventures must have a principal place of business in Maryland
• Non-Maryland ventures are expected to locate in the state either through acquired space or a state incubator
• Top winners must spend 51% of $100,000 grant in Maryland
• Entrants can only apply for one category
• All ventures must be “for profit” entities
• Entrants must pay a non-refundable application fee of $100
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CATEGORIES
• Cyber Security• Cloud Computing• Data Mining &
Analytics• Forensic Tools• Geospatial• Data Management• Social Media & Apps• Cellular Tools • E-Commerce
IT Hardware/ SoftwareOpen to MD-based
companies only
Life ScienceOpen to MD-based
companies only
GeneralOpen to MD & Non-MD-
based companies
• Biotechnology• Pharmaceutical• Medical Devices• Diagnostics and
Therapeutics
• IT• Life Science• Energy• Agriculture• Aquaculture• Maritime• Clean Tech• Manufacturing • Concepts with High
Social Impact
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PRIZES
Governor’s Cup Award in IT Hardware/Software: $100,000 Grant & Select Business Service Awards
Governor’s Cup Award in Life Science:$100,000 Grant & Select Business Service Awards
Governor’s Cup Award in General Services:$100,000 Grant & Select Business Service Awards
Runner’s Up Awards :Incubator Space/Select Business Service Prizes
Industry Awards:Based on Sponsorship $$ raised and quality of applications
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WHO WILL JUDGE? Investors, serial entrepreneurs, C-level executives,
academic leaders, economic development directors and business service professionals
Secured 60+ judges
Commitment of time: Review board meetings, reviewing applications, face-to-face interviews and finale presentations
-- Received 145 applications-- Secured INC. as national media sponsor-- Secured $125,000 in in-kind business service awards-- Secured 18 local business organization partners-- Secured 16 investor partners-- Secured 5+ free incubator spaces, affiliate services and accelerators-- Developed aggressive marketing plan -- Confirmed 60+ judges – C-level execs, academic leaders, VCs, serial
entrepreneurs and business advisors from around the State
INVESTMARYLAND CHALLENGE WORK-TO-DATE:
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BUSINESS SERVICE AWARDS - $125,000!25 Hours of Electromechanical Device DevelopmentSponsor: Root3 Labs & Sensing MachinesJHU Center for BioEngineering Innovation MentorshipSponsor: Youseph Yazdi, JHUMicrosoft BizSparkSponsor: Microsoft 2-BHI Awards in BioHealthSponsor: BioHealth InnovationLife Sciences R & D AwardSponsor: Noble Life SciencesRural Entrepreneurship AwardSponsor: Eastern Shore Entrepreneurship Center University of Maryland AwardSponsor: UMKAI Research AwardSponsor: KAI Research
New Market Venture Partners AwardSponsor: New Market Venture PartnersVenture Accelerator ProgramSponsor: ETC BaltimoreLegal ServicesSponsor: Whiteford, Taylor & PrestonIncubator SpaceSponsor: UMB BioParkSponsor: Bethesda GreenSponsor: Bwtech @ UMBCSponsor: Howard County EDASponsor: TowsonGlobal
PARTNERS
INVESTOR PARTNERS
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APPLICANTS BY CATEGORYIT Hardware/Software 60.4%Life Science 26.9%General 12.7%
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APPLICANTS BY COUNTYAnne Arundel
8%
Baltimore3%
Baltimore City28%
Carroll2%
Charles2%Dorchester
1%Frederick
2%Harford
1%
Howard7%
Montgomery28%
Out of State10%
Prince George's7%
Queen Anne's1%
Washington1%
Out-of-StateVADCNJDENYCAFL
TIMELINESeptember9/24/12 Governor Announced Competition/Application Submission StartsNovember11/1/12 Review Panel MeetingDecember12/13/12 Application Submission EndsJanuary1/4/13 Round 1 Scoring Starts1/21/13 Round 1 Scoring Ends1/28/13 Round 2 Scoring StartsFebruary2/11/13 Round 2 Scoring Ends2/12/13 Semi-Finalists Announced2/21/13 Face-to-Face Interviews @ Univ. MD College Park2/28/13 Top 3-5 category finalists announced April/May TBD Finale Presentations & Governor’s Cup Award Ceremony
MARKETING CAMPAIGN
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Advertising & Promotion▪2M Impressions – BBJ/WBJ, Sun, Post, DR Inc.
▪ 70 Media Outlets Covered = $76K Earned
▪ 30+ Events in October - November
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SOCIAL MEDIA
www.InvestMarylandChallenge.org
Web/Social Media
▪ 5,513 Page Views ▪ 300 Followers twitter.com/InvMDChallenge
▪ 1M Reached – Eblasts, facebook, e-newsletters
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For More Information
AdministratorsMichelle D. Jackson, Prog. Dir.
Erin Rabatin, IMC [email protected]
410-767-3213
SponsorshipSherri Diehl, Marketing Dir.
