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September 07, 2018
Frederick Tech Incubator Awarded $450,000 From Rural Maryland Prosperity Investment Fund
The Frederick Innovative Technology Center,
Inc. (FITCI), Frederick, Maryland’s tech incubator, announced today that it is
the recipient of two grants totaling $450,000 from the Rural Maryland
Prosperity Investment Fund of the Rural Maryland Council (RMC). The Fund
provides targeted investment to promote economic prosperity in Maryland’s rural
communities.
The first grant, for $200,000, will be used
toward the development of a Community Growth Accelerator Program to complement
the services provided in FITCI’s two incubator locations. The accelerator is a
cohort-based program that includes connections, mentorship, educational
components, and culminates in a public pitch event to accelerate growth.
The RMC also awarded FITCI $250,000 for the
construction and operation of a premier Tech Shop, a new shared tech makerspace
in the incubator’s downtown Frederick location. The Tech Shop will be designed
to prepare rural Marylanders with the tools and training necessary to adapt to
a rapidly changing technological landscape, by tapping into the nascent Internet
of Things (IoT) market.
FITCI President and CEO, Kathie Callahan
Brady, expressed appreciation for the grants as well as support of the
incubator from Frederick County public officials: “We couldn’t be more thrilled
to hear of the news. This couldn’t have come at a better time for FITCI, we
recently opened our beautiful new center in the ROOT building downtown, thanks
to County Executive Jan Gardner and the County’s support. With these grants we
can now put the finishing touches on our programs and the rest of the center.
Through these projects, we will be able to guide so many more entrepreneurs in
ways that will accelerate and transform their businesses. We are so grateful
for the support of so many people.”
The Rural Maryland Council (RMC) brings together
citizens, community-based organizations, federal, state, county and municipal
government officials, as well as, representatives of the for-profit and
nonprofit sectors to collectively address the needs of rural Maryland
communities
The Frederick Innovative Technology Center
Inc. (FITCI) was founded as a nonprofit partnership in 2004 to foster
entrepreneurial activity 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. FITCI supports early stage biotechnology, information technology,
and renewable energy start-up companies by offering office and wet lab space,
business services, and strategic support to local entrepreneurs.
