Mayor announces $1M 'Innovation Fund' at State of the City speech - Technical.ly Baltimore

Civic

Mar. 10, 2015 2:54 pm

Mayor announces $1M ‘Innovation Fund’ at State of the City speech

The city also plans to launch a real-time map showing the status of development projects.

Mayor Stephanie Rawlings-Blake.

(Photo via Twitter)

Mayor Stephanie Rawlings-Blake announced Monday plans for a $1 million fund designed to help small and medium-sized businesses get access to technology.

The Innovation Fund is part of a 20-point “Strategic Plan for Small Business and Entrepreneurship Growth” that Rawlings-Blake released during her State of the City address on Monday.

Details are still being finalized. As Baltimore Development Corporation President William H. Cole described it, the fund is designed to provide flexible loans to “small businesses that need to buy that next piece of equipment.” He offered an example of a manufacturing company that wanted to buy 3D printers.

“I want to make certain that we’re there for companies who need to buy equipment, and they can’t find other ways to do it,” Cole said.

Additionally, Cole said the money will be used to “grow the tech sector,” which could include loans or grants for technology startups. He used the example of a company that graduated ETC’s AccelerateBaltimore program (which is backed by BDC), and chose to make Baltimore home. In that case, the money wouldn’t necessarily need to be for equipment, Cole said.

Overall, the 20-point plan has four main goals, Rawlings-Blake said:

  • Increase resources for small businesses
  • Cultivate the innovation economy
  • Promote an inclusive economy
  • Make Baltimore more business-friendly

Another point of the plan calls for development of an online portal that will help small businesses navigate City Hall.

Mapping Development

During the State of the City address, Rawlings-Blake also introduced a new online mapping platform that is designed shows the details of local development projects.

“I want to be able to highlight what is happening in Baltimore, and what is coming to your neighborhoods,” Rawlings-Blake said.

EconView is expected to go live this week. When visitors roll over an address on the map, they’ll be able to see real-time data. Details like building owners, project cost and status of construction will be included.

Advertisement

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

Baltimore named a winner of the Smart Cities Readiness Challenge

Interactive kiosks are offering directions (and selfies) in downtown Baltimore

Power Moves: Cole stepping down as CEO of BDC, joining Margrave Strategies

SPONSORED

Baltimore

How SmartLogic accelerated these startups’ product growth trajectories

Philadelphia, PA

Orthly

Full-Stack Javascript Engineer

Apply Now
Baltimore, MD 21201

14 West

Chief of Staff

Apply Now
Baltimore, MD

SmartLogic

Product Designer

Apply Now

With eye toward broadband, City Council president proposes conduit legislation

Community input is as important to Baltimore’s smart city planning as tech

Code in the Schools and the City of Baltimore are expanding student work on civic tech

SPONSORED

Baltimore

This fast-growing SaaS company aims to be a force for change in the energy industry

Baltimore

Technically Media

Technical.ly Baltimore Contributing Reporter (Contract or Freelance)

Apply Now
Baltimore, MD

SmartLogic

Developer

Apply Now
Baltimore, MD 21201

14 West

Application Security Engineer (Pen Tester)

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!