Awards will be based on four categories with one winner in each category: IT hardware/software, Defense and Security, Life Sciences and Sustainability and Exploration.
The competition is sponsored by the Maryland Department of Business and Economic Development and Inc. Magazine. Applicants must have no more than 25 employees and be independent businesses in the start-up or early-growth stages with no more than $1 in annual revenue. Applicants outside Maryland must agree to establish a place of business in the state of Maryland.
Each applicant can apply for only one grant. They must spend 51 percent or more of the grant money in the state of Maryland. The grants are funded by the Department's Maryland Venture Fund and BioMaryland Center. Applications are now open with the deadline on December 12, 2014.
For more information on the grant competition and how to apply, visit www.investmarylandchallenge.org/#!about/c17lf
