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www.annapolis.gov/econdev
August 2018

 

Announcements

 

High Caliber, High Growth Startups Selected for Fall 2018 Accelerator

The FounderTracTeam, along with industry representatives, have selected the finalists for the second FounderTrac Accelerator cohort of 2018! With over 60 applications collected from an astonishing amount of high caliber, high growth startups, the team scoured applicants, reduced the pool to a little less than half and then held virtual interviews with a panel of judges to determine the final 11 companies that will begin the second Annapolis based startup accelerator’s 12-week program that helps entrepreneurs take their companies from idea to high growth.

SBA Disaster/Flooding Loan Assistance


The Small Business Administration plans to open three centers in the Baltimore area this week to provide information about disaster loans available to Maryland residents and businesses affected by the first major floods of the season in late May. Information centers are to open at:
 
Stillmeadow Evangelical Free Church, 5110 Frederick Ave., Baltimore.
B&O Ellicott City Station Museum3711 Maryland Ave., Ellicott City.
Catonsville Senior Center, 501 N. Rolling Road.
 
They are scheduled to be open from 9 a.m. to 6 p.m. on weekdays and 10 a.m. to 2 p.m. Saturdays. The centers will close at 4 p.m. on Aug. 7, their final day. In addition to applying for loans in person at the centers, applicants may also submit requests online at DisasterLoan.sba.gov. The filing deadline for applications for physical property damage is Sept. 24. The deadline for economic injury applications is April 25, 2019.

TEDCO Funding and Programming for Underserved Founders

Maryland Technology Development Corp. launched a new fund that offers early stage investments of $50,000 to startups that may be overlooked by other funding organizations. The Pre-Seed Builder Fund is offering $50,000 in funding for early-stage entrepreneurs in Maryland, as well as eight months of formal programming. The idea is to provide both financial and operational support for companies who are socially or economically disadvantaged, and in turn create more startups in the state that receive follow-on funding and ultimately achieve success.
 
Last year’s Minority Business Pre-Seed Fund awarded 10 black-owned firms in its pilot year with about $40,000 each. TEDCO is now expanding the scope of the pre-seed fund, to include not only minority-owned companies but any company that could face some social or economic disadvantage. There are several groups that face clear capital access problems. As few as 1 percent of venture funding goes to African American-owned or Hispanic-owned companies and less than 2.5 percent goes to female-run companies.

Maryland Green Travel Transitions to Maryland Green Registry


If your tourism business would like to be recognized as, or apply to be a green property on the Maryland Office of Tourism (OTD) website, complete an application for the Maryland Green Registry. The Maryland Green Registry is a free, voluntary program offering tips and resources to help businesses and other organizations set and meet their own goals on the path to sustainability. Visit the Maryland Green Registry website for more information or to join.

Grants Available for Multifamily and Workplace EV Charging Stations

 
As part of the VW settlement, Electrify America and its partner SemaConnect are taking applications, first-come, first-served, for grants that cover installation, purchase and maintenance of charging in Multi-family housing (condos, apartments, townhouses, etc.) and Workplaces, in the Washington DC area, including Annapolis. Grants are available for up to $75,000 for multi-family charging and for up to $100,000 for workplace charging.

SBA’s Small Business Summer School

 
Are you ready for SBA's Small Business Summer School? The SBA offers a variety of free online courses to help you start and run your business. Topics include how to access capital, marketing tips and legal requirements for your business.

The IRS Home Office Deduction and Small Business Playlist

 
Small business owners and self-employed individuals who work from a home office may be overlooking a common deduction. The IRS encourages small business owners to explore the guidelines surrounding home office deductions and learn more about the options available. Check out Publication 587, Business Use of Your Home on IRS.gov.
 
Small business/self-employed individuals can visit the small business playlist on the IRS YouTube channel and watch a series of videos that can help them navigate tax topics that affect their businesses. Topics include paying estimated taxes, employment tax, worker classification, the sharing economy, and more.

Milestones

 

Congratulations to businesses celebrating their two-year anniversary:

Davis, Upton & Palumbo, LLC 
Gampopa Center
West Annapolis Surgery Center

Other businesses milestones:

Anne Arundel Economic Development Corporation is celebrating 25 years of growing the county’s business community and economy
Pinky's West Street Liquors is celebrating its 35th anniversary
Weems & Plath is celebrating its 90th anniversary. Weems & Plath is one of the oldest marine companies in the United States and over the course of its 90 years, has always been headquartered in Annapolis. What started modestly in the home of Captain Philip Van Horn Weems and Margaret Thackray Weems on State Circle, W&P has grown into an international company with hundreds of dealers worldwide.

Upcoming Events

 

Governor's Office of Small, Minority & Women Business Affairs: Marketing 101
August 28, 10:00 am
100 Community Place, Crownsville
Cost: Free
 
Governor's Office of Small, Minority & Women Business Affairs: MBE Rights and Responsibilities
August 28, 2:00 pm
100 Community Place, Crownsville
Cost: Free
 
Hispanic Business Roundtable (en español)
August 29, 6:00-8:30 pm
Pip Moyer Recreation Center, 273 Hilltop Lane, Annapolis
Cost: Free 

Register now for our September events! 

Make Your Money Work Harder for You
September 13, 8:00 am & 2:00 pm (offered at two different times)
3rd Floor Conference Room, 145 Gorman Street, Annapolis
Cost: Free (limited to 18 participants)  


Small Business Speed Lending Event  
September 19, 9:45 am-12:00 pm
Pip Moyer Recreation Center, 273 Hilltop Lane, Annapolis

Cost: Free 

Spotlight

 

SMBE Procurement Forecast Tool

What does the state of Maryland plan to buy this fiscal year? Find out on the Procurement Forecast tab of the Governor's Office of Small, Minority & Women Business Affairs' website. This powerful business development tool contains more than 1,300 possible opportunities across 70 state agencies/ departments. It's a searchable database of both new and recurring purchases of $100,000 or more, and it offers multiple search options.  Today, the Procurement Forecast page is one of the most visited on GOMA’s website.

To get the golden nugget of information - the buyer's name and contact information - you must download the results into an Excel spreadsheet. 

Publications and Resources

 

Quick Links

 
Annapolis Economic Development Division, 410-260-2200
Hollis Minor, Economic Development Manager, hgminor@annapolis.gov 
Hope Stewart, SMBE Liaison, hstewart@annapolis.gov 

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