Maryland Launch Fund

Maryland Launch Fund

Application Information

The University System of Maryland (USM) Launch Fund connects early stage entrepreneurs — builders, creators, and innovators — to existing resources, mentorship, and capital. It creates a new capital source designed to fill gaps and connect to other capital and resources.

Requests for more than $2,000 in funding through the Maryland Launch Fund are submitted via an application that is previewed below. You must register in order to receive your unique application link. The registration asks about your affiliation to USM, other basic demographic information, and a quick, non-binding preview of how capital much you will be looking to request. At the moment, a legal entity needs to be formed in order to receive (but not apply for) the funding. Students, faculty, and employees who have not yet formed a legal entity are encouraged to complete the short registration form to receive information as the programs develops.

Requests for less than $2,000 are arranged through participating USM institutions, through a separate application process. Students and faculty and other employees are eligible; an entity does not have to be formed in order to apply for or receive the funding. More information will be available.

Register to Receive Application Link
View the Evaluation Criteria

Application Preview

 

**Note: Dilutive investments have yet to be deployed, and the strategy and parameters around are being further refined for the next round.

 

The application questions are the same for all stages of ventures. Reviewers are trained to evaluate the answers as appropriate based on the stage of the venture. So, answers at a very early stage will not be directly compared to those from ventures that are further along!

 

Proprietary Info. This application is designed such that you should not have to provide proprietary information. However, your application will only be shared with those involved in the review process, who agree to hold this information confidential.

Format. We have developed a Typeform application process. It includes the ability to upload information instead/in addition, including videos. However, we recognize this application format still may not be the best for everyone to make the case for funding and other resources. If you prefer to provide information in another manner, please get in touch with Lindsay Ryan at launch@usmd.edu or 410-409-2236.

Please note that below is a preview of the application. We strive to keep it up-to-date. However, if there are discrepancies between the form and this page, the form is the correct version.

What are we REALLY looking to fund? A rubric can be found here!

If you have any feedback about this application process, we welcome your thoughts via this form, via email, or phone — Lindsay Ryan at launch@usmd.edu and 410-409-2236

PART 1 of 2: FUNDING REQUEST AND VENTURE BASICS

This section tells us what funding you are looking for and how far along your venture is. Ventures in an idea stage are given as much consideration as those that are further along! The funding ask should match the venture stage.

1. How much funding are you seeking from this program?

  • Amounts below $25,000 will typically be deployed as a grant. Amounts greater than $25,000 will typically be deployed as a grant or convertible note. Grants of any amount may be deployed as an up-front and final payment. However, these are just guidelines. Through your application, you will be able to make the case for how much you are seeking and in what form. We are also open to other forms of capital, which can be noted at the end of this application.
  • You may receive funding and then apply again, generally up to a total of $75,000. Smartly using small amounts of funding is a great way to make a case for additional, larger funding.
  • Requests lower than $2,000 are available for students, faculty, and other employees only and are arranged directly through USM institutions — you do not have to complete the application on this page!!

2. How would you like to receive the funding (Grant OR Investment/Convertible Note)? Exact format and terms will be negotiated upon initial approval for the funding.

3. Do you have a prototype or minimum viable product (MVP) – Yes/No? It’s okay if not!

4. Do you have customers or users (they do not have to be paying)  – Yes/No? It’s okay if not!

5. Do you have revenue (i.e., money coming in from customers/users/clients, not grants or competition winnings) – Yes/No? It’s okay if not!

  • If you are pre-revenue, what is your anticipated time to revenue, in months?
  • If you have revenue, how much did you have in the most recent two quarters (total)? Do not include investment or revenue from grants or other revenue that is not related to the primary way in which your venture will generate revenue

6. If you have paid employees, how many do you have? You do not need to have paid employees!

7. How much funding (if any!) aside from any revenue, have you secured or utilized (personal funds, friends and family, angels, university funds, grants, money from pitch contests, crowdfunding, etc.) toward the idea or venture? We ask about previous funding to take into account (and hopefully address) access issues and to give credit to how well existing resources have been leveraged. If you have not utilized or secured funding, list “0”.

8. If you have secured or utilized funding, please explain about how much has come from which types of sources (personal funds, friends and family, angels, university funds, grants, money from pitch contests, crowdfunding, etc.)  If you have not utilized or secured funding, enter “none”.

PART 2 of 2: VENTURE SPECIFICS

All questions are optional because not all questions may apply appropriately to all ventures. However, competitive applications will provide enough information to convince reviewers to recommend approval of the funding requested. More information is better for larger requests, but brevity and clarity are also appreciated. 

At the end of this application, you will be able to upload materials in lieu of or in addition to answering the questions below.

About the Venture

  1. Venture Name
  2. Describe in one sentence what the venture does or will do.
  3. What inspired you to develop your idea? What is your “why” in pursuing it? There is no wrong answer!
  4. What have you done to develop the idea or venture? What resources have you used so far? Resources (capital and otherwise, such as programs) that support ventures are not always accessible to the people who need them. We ask about previous resources to take into account (and hopefully address) access issues and to give credit to how well existing resources have been leveraged. If you are at the start of your journey, Business Lingo and other videos on this Getting Started Playlist may be helpful.

Core Components: Market and Team

  1. What problem(s) are you trying to solve? What are you building/creating or have you built/created as the solution? 
  2. How many people have you collected information from related to the problem, and how was that information collected (interviews, tests, surveys, etc.)? Please note if you did this through any structured programs such as the I-Corps Program. This Market Research & Understanding Your Customers Playlist may be helpful.
  3. What are the recent market trends and market size of this opportunity? How are current market conditions creating an opportunity for your company?
  4. Do you have any co-founders or other functional team members, including advisors? If yes, what are their names and roles/responsibilities? What relevant resources, assets, experiences, passion (devotion) or education will you leverage or qualify you to make this a reality? This Building a Startup Team Playlist may be helpful. (Tip: If you will be hiring interns, the Maryland Technical Internship Program may be useful to you.)

Progress, Goals, Plans, and Ask

  1. What stage are you at with your product or service? 
  2. How have your priorities and goals changed since you first had this idea, and what other milestones have you achieved so far?
  3. What are your goals for the next 6 to 12 months? What will you use the funding for, and how will that impact your ability to achieve these goals? Why is this opportunity the right one for the stage you are in with your idea or venture?
  4. Where do you see the idea or venture in the next 5 years? (There is no wrong answer to this question! Keeping in mind our goals may help you answer in a way that is both truthful and speaks to our economic development goals, including any social and environmental impacts, in this funding pilot.)

Venture Plan Specifics

  1. How does or would the venture make money?
  2. Who are potential competitors? Describe any unique insights or capabilities that will make the venture successful. Are any competitors also current or potential investors or partners?
  3. What is the marketing plan for the venture? What implementation strategies will be or are being used to acquire customers/clients/users (go-to-market strategy)? This Sales & Marketing Playlist may be helpful.
  4. How much do you estimate it would cost for the venture to reach an operational phase or, if already operational, its next phase? What are future plans for acquiring any additional funding needed and/or strategic scale-up partners OR capital or other gaps in how to reach the next phase? This Investments & Grants Playlist and/or Quick Scaling for E-Commerce Video may be helpful

Wrap-Up

  1. The program will provide numerous benefits, including funding, access to resources, mentoring programs, networks and communities, etc. Tell us in a few sentences which of these are important to you and how do you plan to leverage them. Are there any unique resources the program can help you acquire to make the venture a success?
  2. We may offer the opportunity to be connected with a cohort of individuals who are also working toward venture goals. Please signal below if you would be interested.
    1. Yes, interested in being in any cohort
    2. Yes, interested in being in a cohort with folks in a similar INDUSTRY
    3. Yes, interested in being in a cohort with folks in a similar VENTURE STAGE
    4. Yes, interested in being in a cohort matched by something else
    5. No, thanks
  3. What is something that you think we should know? Do you have any questions for us?
  4. Additional Uploads (optional). If you would like to upload something for consideration, you can do that here as a single PDF. This includes letters of support from mentors and/or current/potential customers. Or, it could be a pitch deck or executive summary that provides all or some of the information requested above. 
  5. How did you hear about this opportunity?
  6. Will You Help Us Grow This? This is a pilot, which means that we need to prove that there is benefit in providing early capital to support builders, creators, innovators, entrepreneurs, ventures. So, in addition to asking for accountability in reporting to us how the funding was used, we will also be in touch to ask about your progress and provide opportunities for you to relay how helpful (or not) the funding and other resources were. Checking this box doesn’t commit you to anything yet, but we wanted to put this on your radar now.

If you have any feedback about this application process, we welcome your thoughts.

Provide Feedback

Please direct any questions to Lindsay Ryan at launch@usmd.edu.

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