5 ways Maryland’s innovation ecosystem is unlike any other

03/26/2021| Julie Miller

5 ways Maryland’s innovation ecosystem is unlike any other

03/26/2021 | Julie Miller

When high-tech companies are looking to lay down roots, Maryland is the place to be. See what makes Maryland the best state for innovation.

Maryland is an affordable tech hub

Compared to Baltimore, it costs 60 percent more to do business in San Francisco, and 44 percent more to do business in New York City (Moody's Analytics). Our rural areas are even more reasonably priced, and within arms reach of major metro areas. Affordability translates in a big way when it comes to personal lives too. Entrepreneurs can chase their dreams, without having to live out of their car, and the tech workforce powering our startups find Maryland is a great place to lay down roots.

An ideal location for tech

Maryland's lower costs to doing business (and life) doesn't come with major sacrifices. Smack in the center of the Eastern seaboard, Maryland puts the world at the fingertips of our entrepreneurs. Morning meeting in NYC? A couple hours on a train will get you there. Important meeting overseas? Three global airports are at your fingertips. Want to tap into federal research? You'll find agencies including NIH, FDA, NIST, and NSA right here, and more federal resources are in neighboring D.C.

A track record of startups that take off

Whether you’re looking for the best spot in the U.S. to lay down your business roots, or you’re already a Maryland entrepreneur looking for ways to scale-up, you’ll be well supported in Maryland. Just ask the team behind cyber startup Sourcefire, ultimately acquired by tech giant Cisco. Or ask RoosterBio, which started from a small company at a Maryland incubator, and has grown to more than 60 employees in just a few short years. Galen Robotics  and Stripe, Inc recently made the move East to be part of the action.

Supportive programs for tech businesses

So how exactly does Maryland help? It’s through innovative funding programs, like the Biohealth Investment Incentive Tax Credit, which provides bio investors with income tax credits. It’s opportunities to join state delegations at industry trade shows across the globe. It’s resources like DefTech centers , which help entrepreneurs commercialize defense technologies. It's not just the state that's creating more opportunity for entrepreneurs. Private companies like T. Rowe Price  are empowering entrepreneurs across the state.

Leading tech universities

Maryland’s colleges and universities contribute to Maryland’s leading position of one of the most highly educated states. Beyond that, our universities play a critical role in turning discoveries into technologies, products and services that benefit society. Consider Johns Hopkins Tech Ventures , which offers 43,000 square feet of incubator space, has 1,8000 technologies available for licensing, and has supported more than 160 commercial startups. University of Maryland’s Discovery District , another research and innovation hub, is home to more than 50 up-and-coming companies, including quantum computing leader IonQ.

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