FY25 MBIA Commercialization Innovation Grant

With the support of TEDCO, the MCIG was designed to channel strategic funding through the MBIA Entrepreneurial Support Organization members and into eligible companies within their centers or program communities. The goal of this grant program is to provide strategic benefits to aid in the entrepreneurial advancement and commercialization efforts of promising innovative companies and propel success and growth in Maryland.

The program is a competitive process intended to reward the most impactful use of funds that will have the most significant and positive outcomes on Maryland’s innovation ecosystem and economy by promoting the use of Maryland-based vendors and service providers. Grant funds should be directed to Maryland-based companies with innovative or disruptive, technology-enabled business models.

Who Is Eligible?

Eligible entities must meet the following requirements: 

  • Be a portfolio member in good standing of an MBIA Entrepreneurial Support Organization member.
  • Be headquartered in Maryland with at least 51% of employees residing in the state.
  • Have fully spent or returned any previously awarded TEDCO assistance grant funds.
  • Have submitted a final report acceptable in form and substance to MBIA for any TEDCO assistance grant fund previously received.
  • May not be an anchor tenant or strategic partner of an MBIA ESO member.

In addition to the above eligibility requirements, the company must be a portfolio member of an eligible MBIA Entrepreneurial Support Organization member that meets the following requirements: 

  • The MBIA ESO member is in good standing with MBIA, which means the ESO must not owe outstanding membership dues and must have a dedicated program manager. 
  • The MBIA ESO member must be in good standing with the State of Maryland

Program leaders within each eligible ESO are expected to work diligently with their entrepreneurs to identify potential projects and help them submit compelling grant applications. The identified companies should demonstrate innovative or disruptive, technology-enabled business models. Projects should prioritize Maryland-headquartered service providers.

How To Apply

MBIA ESO member directors are expected to work with their companies to prepare compelling MCIG applications. 

The FY25 MCIG program will include a very short three-day application window in early December 2024, a programmatic change that will combine the program’s effort to review applications on a first-come, first-serve basis with the need to impose a tight deadline to ensure awarded projects have adequate time to complete their scope of work before the end of May 2025. A total of $140,000 can be awarded through the MCIG FY25 grant program. 

Applicants are expected to complete an online application via Jotform describing the proposed project.  The link will be posted here when applications open.

Eligible and complete applications must also include the following documents: 

  • Company one-page executive summary
  • A letter of support from the application’s MBIA ESO member director
  • A Scope of Work and Timeline from the applicant’s proposed vendor.
    • Note: If the applicant does not have a preferred vendor in mind, MBIA will work with the applicant, should their application be approved, to identify a vendor. 
  • Project Budget

The full list of questions on the application form can be found here: MCIG Application Questions FY25

Information Sessions

MBIA ESO member directors are strongly encouraged to attend one of the two information sessions to discuss the FY25 MCIG program.  

Application Window

The application form will be open on December 10 at 12pm noon ET until December 13 at 10am ET. Applications will be considered on a first-come, first serve basis until grant funds are expended. 

Program Announcement

For additional information about the FY25 MCIG, including use of funds, application requirements, and program timeline, please review the FY25 Program announcement here:
FY25 MCIG Program Announcement