BALTIMORE COUNTY, MD—The Maryland Tech Council on Wednesday announced that it’s going to obtain a $378,000 federal CARES Act grant to considerably broaden its Enterprise Continuity Job Power to help extra entrepreneurs in Baltimore County as they navigate COVID-19’s financial affect.
Awarded by the U.S. Financial Improvement Administration, the grant allows MTC to broaden the duty power’s mentoring providers to tech and life science companies within the Metropolis of Baltimore, Baltimore County, and Prince George’s County for gratis.
The duty power pairs tech and life science executives with skilled mentors who focus on finance, accounting, engineering, innovation, and founders points. The objective is to supply these entrepreneurs free and sensible recommendation on main a enterprise by means of financial uncertainty from specialists who navigated crises just like the 2008 recession.
Small to mid-size companies in Prince George’s County, Baltimore County, and the Metropolis of Baltimore are invited to apply online to be matched with a activity power member and obtain help for gratis.
The Maryland Tech Council created the duty power in 2020 with a grant from the Montgomery County Council to supply mentoring providers to the county’s tech and life science executives. Dozens of companies utilized this system, demonstrating its potential to help corporations throughout Maryland. The Montgomery County Financial Improvement Company will assist the growth to new jurisdictions by offering in-kind grant compliance reporting assist.
“Our companies and entrepreneurs are the financial lifeblood that maintain and develop our financial system,” stated Senator Chris Van Hollen. “A lot of them have been hit exhausting by the pandemic, and these funds will assist the efforts of the Maryland Tech Council’s Enterprise Continuity Job Power to assist these companies navigate the financial fallout and climate the storm. I used to be proud to battle for very important aid for Maryland’s companies by means of the CARES Act and American Rescue Plan, and I’ll preserve working to assist our entrepreneurs and enterprise homeowners.”
“The COVID-19 pandemic created a gauntlet of challenges for entrepreneurs, from risky capital markets to managing distant workforces in a single day,” stated Marty Rosendale, CEO of the Maryland Tech Council. “We created the Enterprise Continuity Job Power in 2020 to assist entrepreneurs reimagine the post-COVID future with the assistance of seasoned volunteer mentors who’ve been examined in crises earlier than. This grant considerably accelerates our mission to attach extra Maryland entrepreneurs with unbiased enterprise counsel from senior mentors to allow them to stand up to and transfer previous this risky financial panorama.”
“As we proceed to construct in direction of our restoration, we should do no matter we are able to to assist companies navigate the long-term financial impacts of the COVID-19 pandemic,” Baltimore County Government Johnny Olszewski stated. “Baltimore County is proud to assist this thrilling growth of the Enterprise Continuity Job Power’s work to assist native entrepreneurs obtain the mentorship and assist they should recuperate and thrive within the months and years forward.”
“We’re very happy to companion with MTC to assist Montgomery County tech corporations with their financial restoration. This federal grant, coupled with the county’s earlier funding, now permits for an growth statewide of this very useful mentoring program outdoors of simply Montgomery County’s expertise hall,” stated Benjamin H. Wu, President and CEO of the Montgomery County Financial Improvement Company (MCEDC). “That is one other efficient partnership between our two organizations to assist our native entrepreneurs and the expertise neighborhood.”
Extra data on the Enterprise Continuity Job Power is available online here.