ANNAPOLIS, MD—Governor Wes Moore this week announced that the Maryland Department of Commerce has helped place more than two dozen international companies in incubators across the state through the Maryland Global Gateway program. The 27 approved participating companies (PDF) represent 19 countries and are in a number of industries including quantum computing, cybersecurity, life sciences, aerospace, manufacturing, and agriculture.
“The state’s Global Gateway program is truly an innovative tactic for attracting new businesses to Maryland,” said Gov. Moore. “While going through this soft landing trial, companies will quickly learn the benefits of doing business in Maryland. Six of these participants have already registered to do business in the state and we are excited to see more positive results from the program.”
The Maryland Global Gateway program helps to ease an international company’s transition into the U.S. by connecting them with 18 partnering incubators and accelerators in Maryland. The goal of the program is to attract early-stage companies with hopes that they will establish a full-time presence in the state after the soft landing trial ends, bringing additional job creation and investment to Maryland. More than 60 businesses applied to participate, successfully capturing a diverse array of companies from six different continents while boosting the state’s attractiveness and competitiveness in the global market.
Maryland’s comprehensive gateway program is designed to attract foreign companies by leveraging the state’s existing resources and partnerships to drive results and increase Maryland’s standing as a major innovation center in the U.S. By soft landing in Maryland, international companies are able to test the U.S. market and receive additional assistance from the program, including the potential for rent assistance for six months; training, mentoring, matchmaking, and networking opportunities; and assistance with business registration costs.
“Our goal is to keep Maryland’s business community flourishing—one way to do that is to make our state accessible and appealing to an international audience,” said Maryland Department of Commerce Secretary Kevin Anderson. “By touting the benefits of what Maryland has to offer, and providing resources to help foreign companies succeed, we can help support job creation and investment in both Maryland and abroad.”
Companies that are interested in participating in the Maryland Global Gateway can apply when the program reopens from October 16 through November 30.
To complement the Global Gateway program, the Maryland Department of Commerce also created an exchange program to provide Maryland companies with similar benefits abroad, allowing them to engage with partner incubators while exploring new global markets. Companies can apply for up to $10,000 to help offset the cost of their participation in seven countries, including Australia, France, Ireland, Japan, the Netherlands, South Korea, and the United Kingdom.
Maryland’s Office of International Investment and Trade works to stimulate foreign direct investment in the state, offers export assistance, and coordinates international trade and investment missions and trade show opportunities for Maryland companies. The state also has 19 foreign trade offices across the globe.
Additional information on Maryland’s assets for global business is available online here.
