Chesapeake Bay Seed Capital Fund
New Venture Capital Financing Available for Maryland State Startups with Innovative Technologies Addressing Air and Water Quality in the Chesapeake Bay Area
The Maryland Technology Enterprise Institute (Mtech) at the University of Maryland announces the launch of the Chesapeake Bay Seed Capital Fund.
The fund, supported by the Maryland Department of Natural Resources and administered by Mtech, will invest $250,000 annually over a three-year period into Maryland-based startup companies with innovative technologies that may help improve air and water quality in the Chesapeake Bay area. Fund recipients are jointly selected by Mtech and the Maryland Department of Natural Resources.
The Chesapeake Bay Capital Seed Fund is a strategic initiative announced by Governor Martin O’Malley on Nov. 20, 2008 as part of the Chesapeake Executive Council. The goal of the fund is to accelerate the flow of capital to innovative ventures creating sustainable solutions to restoring the Chesapeake Bay and its watershed.
To apply, please contact Jim Chung, Director of the Mtech VentureAccelerator Program, at (301) 314-7804, or jwchung@umd.edu.
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