The Maryland Department of Commerce provides the Build the Future Grant Pilot Program to provide grants for innovation infrastructure projects intended to support innovation in an eligible technology sector.
Donor Name: Maryland Department of Commerce
State: Maryland
County: All Counties
Type of Grant: Grant
Deadline: 09/27/2024
Size of the Grant: $500,000 to $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The Build the Future grant application process will be in two steps. Phase 1 will constitute an open call for proposals, seeking initial project summary information and detailing the impact of the project on advancing innovation and growth in targeted industry sectors. Following review of the Phase 1 applications, a review committee will down-select and invite a limited number of applicants to submit a more detailed Phase 2 application.
Funding Information
A single entity may not be awarded more than $2,000,000 in grant funds in a fiscal year.
For a grant award up to $1,000,000, a grantee shall provide matching funds that are at least 200% of the grant amount.
For a grant award exceeding $1,000,000, and up to $2,000,000, a grantee shall provide matching funds that are at least 400% of the grant amount.
Funds received by a grantee through other State grant programs are not counted toward the grantee matching funds requirement.
Use of Funds
Grant awards may be used to defray the cost a grantee incurs to acquire, construct, rehabilitate, install, improve, or equip an eligible innovation infrastructure project.
Grants may be used for eligible innovation infrastructure projects designed to transform and accelerate growth in the following eligible technology sectors:
Examples of eligible projects include, but are not limited to:
Sensitive Compartmented Information Facilities
Wet Laboratories
Cyber Ranges
Prototype Manufacturing Centers
Other Specialized Workforce Training, Skill Certification, or Research-Related Spaces.
Eligibility Criteria
A grantee must demonstrate an ability to cover their share of the project costs.
Grants may be awarded to private companies, nonprofit entities, local governments, or colleges and universities in the State.
Not more that 50% of the appropriation to the fund in a fiscal year may be awarded to colleges and universities in that fiscal year.
Grants to colleges and universities from the fund will be awarded to projects that:
Are performed in collaboration with private industry; or
Offer the prospect of significant economic impact and the opportunity to develop entrepreneurship or clusters of technological innovation in the State.
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