Maryland’s Global Gateway Initiative and accompanying $2 million will connect international businesses looking to work with Maryland to local incubators to streamline the process.
Maryland has invested $2 million investment in the state’s innovative Global Gateway Initiative. The Global Gateway Initiative. The program will help attract international businesses and ease their transition into the U.S. market by connecting them with local incubators and accelerators throughout Maryland.
The program will be managed by the Maryland Department of Commerce and is this first of its kind in the nation. It builds off of Maryland’s Soft Landing Program, launched last year. There are currently nearly 20 accelerators and incubators throughout the state that participate in the program.
According to a press release:
This inaugural [$2 million] investment in the program:will fund payments for the first 50 participating companies to assist with incubator rent costs and company registration, enhance marketing for the program, support participating incubators with website improvements, and provide seed funding to launch an innovation lab with L Marks. The funding will also allow the Maryland Department of Commerce to continue offering opportunities for training and market development, as well as one-on-one counseling for participating companies to provide guidance on the business registration process, and ongoing services and resources.
- Allows a foreign company to land up to two staff at a time for up to three months, at a business office facility where they are able to “plug and play” and have access to the facility amenities, such as internet and conference rooms. All listed soft landing programs provide these costs for up to three months at a reduced monthly rate.;
- Provides access, during the three month soft landing period, to relevant learning, networking, and mentoring services offered by the facility that would typically be included for long-term members. All soft landing programs provide at least two out of the following five types of services:
- Educational programs/training on various business topics
- Access to mentors, advisors, or entrepreneurs-in-residence
- Strategic partnerships or other special programs
- Funding for participants
- Networking events;
- Hosts at least five targeted matchmaking meetings with companies and/or organizations in Maryland;
- Assists with business registration and navigating state regulations; and
- Offers additional services or features. Please check with the individual programs listed below to learn more about the offerings of each program.
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.
