Frequently Asked Questions

POSTMODERN CHAIR

POSTMODERN CHAIR

What is FITCI

and why was it created?

1

The Frederick Innovative Technology Center Inc. (FITCI) is a not for profit corporation, 501(c) (3), created to foster entrepreneurial activity in the information technology and life sciences industries within Frederick County.  FITCI’s mission is to encourage innovation and accelerate the development of commercially viable technology-based businesses by providing a nurturing and supportive environment.

How has FITCI

Been funded?

2

FITCI was originally funded by a public-private partnership among all three levels of local government; the state of Maryland, Frederick County, and the City of Frederick.  Since inception, FITCI also receives substantial contributions, sells corporate sponsorships to the local business community and receives rental income from its tenants.  The two largest public contributors to FITCI are the Maryland Department of Business and Economic Development (DBED) and the Technology Development Corporation (TEDCO) who have both given matching grants of over $400,000 to create the facilities with which FITCI operates.

Who is expected

reside at FITCI?

3

FITCI targets start-up companies residing in the IT, Bio Tech/Life Sciences and Renewable Energy industries.  With Frederick County’s large number of Bio-Tech companies currently operating within Frederick, along with the close proximity of Fort Detrick, it is anticipated that many of FITCI’s entrepreneurs will come from these research facilities and companies.  FITCI actively seeks entrepreneurs with an idea for developing a new product or service who can develop the product or service into a thriving business in Frederick County.

How quickly can

a tenant movie into FITCI?

4

The application process typically takes a month after a prospective client submits an application but could be longer depending upon the individual company’s circumstances.

How does a

company become a tenant of FITCI?

5

All prospective companies are requested to complete an application for admittance to FITCI which is provided on the FITCI website.  The application requests information concerning an applicant’s  proposed business plan, funding capabilities, stage of product development, and requirements for FITCI services.  All applications are reviewed by FITCI’s Client Selection Committee consisting of local business people, consultants, and industry experts who will evaluate the potential of the company for admission to FITCI.  The committee makes a recommendation for admission to the FITCI Board of Directors for admission to the facility where a company will stay until graduation from the facility or termination from the program.

What criteria are

used to evaluate potential "clients"?

6

FITCI’s Client Selection Committee uses a predefined set of criteria to evaluate each and every candidate.  The criteria focuses on the potential merits of the company and looks at such items as proposed business plan, marketing plan, financing, experience in the industry, and the ability to work with the management and staff of FITCI.

Connect With Us

4539 Metropolitan Court

Frederick, MD 21704

301.694.2999

[email protected]

Home

Programs

Faciliates

FAQ

News & Events

Contact

FAQ

Home

Programs

Faciliates

FAQ

News & Events

Contact