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Strong and Prosperous Businesses

Increase the number of successful Maryland Innovation Center companies.

198 

FY23 Actual

FY22 Actual
169

Objective Description

The Maryland Innovation Center (MIC) is a Howard County Economic Development Authority (HCEDA) initiative which provides a robust, interactive community of innovators, entrepreneurs, investors and mentors to collaborate in order to successfully ignite innovation and launch high-growth, technology-based companies in an entrepreneurial ecosystem abundant with resources. The MIC business incubator program’s goal is to help small and start-up businesses grow until they are ready to graduate out and continue to operate independently while employing more people in the local economy. MIC graduate companies represent a wide range of industry types and employee numbers which continues to show a diverse portfolio of successes from the MIC program. In addition, the MIC has expanded its training and mentorship programs to include service for both MIC member companies and the broader entrepreneurial community in Howard County and the surrounding region through the BRITE program.

Trend Analysis

The MIC has seen a significant return to normal activity levels following the issue caused by the COVID-19 pandemic. FY2023 will be the first full year since the pandemic that the MIC could operate at full capacity, visitor and service numbers are increasing. As the MIC is able to serve more people in the community, word-of-mouth and publicity has already been seen to further ramp-up growth.

Strategies

  • Grow MIC member companies through new, tailored approaches for company growth with assigned mentors and continue competitive programming that makes MIC the regional hub for entrepreneurial growth.
  • Equip MIC member companies with Cyber Security tools through Cyber Howard Phase 1 and expand the program to the broader community in Phase 2.
  • Support MIC Empower/Amplify members with funding raises (e.g. Grants, venture capital, series, etc.)

Source: Howard County Economic Development Authority

References

Target = 220

Detailed Analysis


Howard County, Maryland

George Howard Building
3430 Court House Drive
Ellicott City, MD 21043 

dash@howardcountymd.gov


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