Author: Hanju Lee

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Registration for $12M in Biotech Tax Credits Opens 6/1

Maryland’s Biotechnology Investment Incentive Tax Credit (BIITC), created to assist the state’s early stage life sciences companies raise funding, is one of the most generous programs of its kind in the country. The program provides refundable income tax credits equal to 50% of an eligible investment to investors in qualified Maryland biotechnology companies (QMBCs). Although recipient companies must be based in Maryland, investors from outside the State (including outside the U.S) are encouraged.

Investments from $25,000 to $500,000 per individual investor are eligible, with a company limit of 15% of the annual budgeted credit amount ($1,800,000 of credit per company in FY2016 [July 1, 2015 – June 30, 2016]). To date, 75 companies have taken advantage of the program, receiving $69M in credits and later $450M+ in follow on investment.

The $12M in MD Biotech Investor Incentive Tax Credits available during FY2016 will be awarded on a first come, first served basis using an electronic line-up on July 1, 2015.

To participate in the July 1, 2015 electronic line-up, companies must register by submitting their completed application (form A1/A2/A3 and form B) to DBED’s Tax Incentives Group between June 1, 2015 and June 26, 2015.

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Microsoft to support health tech startups at Johns Hopkins

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The explosive pace of innovation in the health technology industry just got a shot in the arm: Microsoft and Johns Hopkins University are joining forces in a Corporate Partners Sponsorship for the university’s FastForward program, which supports startups and accelerates the advancement and commercialization of their technologies.

Click HERE to read more.

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