An innovative program attracts more foreign companies looking to
Expand to the United States
Annapolis, MD—Governor Larry Hogan today announced that nominations for the new Maryland Global Gateway program are now available. At the World Economic Forum in Switzerland earlier this year, the Governor announced an inaugural investment of $2 million in this innovative program, which is helping attract more international companies and smoothing their transition to the U.S. market by connecting them to local incubators and accelerators.
“The Maryland Global Gateway program removes many of the risks that international companies face when exploring the US market, and we are very pleased to initiate this application process,” Governor Hogan said. “Maryland is really open for business. Our state deserves the attention and investment of even more international companies, and now we look forward to making it easier than ever to forge closer ties with partners around the world.
Applications for the Maryland Global Gateway program will be accepted through October 31, 2022. This initial investment of $2 million will provide incentives to the first 50 eligible companies, including:
- Funding rental costs for six months for more than 20 business incubators and accelerators across the state;
- Assistance with business registration fees for foreign businesses that choose to remain in Maryland; and
- Training, mentoring, job shadowing and networking through state government programs and local incubators.
There are 20 accelerators and incubators across the state currently participating in the initiative, which builds on the state’s Soft Landing program. announced last year at the SelectUSA Investment Summit.
“We are thrilled to partner with Maryland’s outstanding network of incubators and accelerators to attract new foreign investment to our state,” said Maryland Secretary of Commerce Mike Gill. “The expertise of Commerce’s international team, along with the support of incubators throughout Maryland will give foreign companies looking to set up shop here a huge advantage.”
Maryland companies are also eligible for the program, allowing them to engage with partner incubators while exploring new markets overseas. Businesses can request a Export® Grant up to $5,000 to help offset the cost of their participation.
In June, Governor Hogan announced a partnership between Maryland and the Guinness Enterprise Center (GEC) in Ireland, which is the world’s leading university-associated business incubator. The partnership will focus on soft landing spaces, academics and networking opportunities between the two regions.
Maryland’s Office of International Investment and Trade works to stimulate foreign direct investment in the state, provides export assistance, and coordinates international trade and investment missions and trade show opportunities for Maryland businesses. The state also has 18 foreign trade offices around the world. For more information on Maryland’s strengths for global commerce, visit open.maryland.gov/global.