VOLT Logo

PLEASE NOTE: The application round for 2015-2016 closed on November 15. Please check this page periodically for details on the next application round.

 

PROGRAM BACKGROUND

Tech Comapany 250 x 200Anne Arundel Economic Development Corporation’s VOLT Fund Provides loans to qualified small and minority/women-owned businesses around Maryland. With each allotment from the state, AAEDC anticipates that a portion will be directed to entrepreneurs of emerging technology and a majority of the funds will be distributed to conventional small businesses. Eligible small and minority/woman owned businesses are those located within 10 miles of any of Maryland’s three casinos – Maryland Live!, Hollywood Park and Ocean Downs - and those located elsewhere in the state.

Loans to promising early stage companies should help attract follow-on funding from venture capital firms, angel investors and other sources. Applications are collected through a one-month application window, and then down-selected through two or three selection rounds and selected by an investment committee.


Eligibility Criteria for Technology BusinessesStart up business team in office 250 x 200

Ideal applicants will meet most or all of the following criteria:
• High potential early stage small, minority and women-owned technology company with clear path to follow-on funding, particularly engaged in cybersecurity, energy, life sciences or Health IT
• Affiliated with a business incubator that is a member of the Maryland Business Incubation Association (MBIA) is preferred, but not mandatory
• Defendable intellectual property with clear ownership or licensing arrangement
• Team led by an experienced entrepreneur or demonstrates willingness to acquire needed management talent
• Recognizable $20 million addressable market cash flow break-even is reached within 18 months

More information on VOLT Fund loans to technology companies, please contact the CIC at (410) 224-2030 or by email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Download the Following Documents:

VOLT Fund Brochure

Application packet:

>VOLT Small Business Conventional Loans

 

 

back to top