InvestMaryland Challenge nears 100 entries

Nick Sohr —  November 14, 2012

By Nick Sohr, Managing Editor, MDBIZNews
Dust off your business plan and sharpen up your elevator pitch. The deadline for the InvestMaryland Challenge is just a month away.

The Department of Business and Economic Development had received 95 entries for the business competition as of noon Wednesday.

The Challenge will award three $100,000 prizes to the top companies in life sciences, information technology and an open, general category.

Maryland companies can enter any of the categories. Out-of-state companies can enter the general category and would be expected to establish a place of business in the state and spend at least 51% of the grant money within the state.

“The InvestMaryland Challenge is a critical piece of the state’s efforts to ensure entrepreneurs have what they need to grow and thrive in Maryland,” said Michelle Jackson, DBED’s director strategic industries and innovation. “The prize money is important but so, too, are the lessons applicants will learn from putting their ideas before our panel of judges and the connections they will make with potential mentors, partners and investors. Those connections will strengthen Maryland’s entrepreneurial ecosystem and pave the way for more robust growth in life sciences, information technology, cyber security, green energy and other high-tech sectors.”

Applications are due Dec. 13 and awards will be made in March. Recently, the contest’s more than 60 judges met to discuss the competition. A few them shared their thoughts on camera.

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