The VOLT Fund
PLEASE NOTE: The application round for 2015-2016 closed on November 15. Please check this page periodically for details on the next application round.
Anne 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 Businesses
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
Download the Following Documents:
- Application for Non-traditional Lending to Technology Companies*Please read this document carefully as the application process and requirements differ from the standard application
- Application Checklist