A $25 million University System of Maryland venture fund that is designed to help startups created by members of the university community officially launched this month.
According to UMD student newspaper The Diamondback, it’s called the Momentum Fund. So far, $10 million is committed from USM. UM Ventures and UMBC are working together on raising an additional $15 million from local VCs and angels.
The application is live, and startups can apply on a rolling basis. The group will also have an external advisory board made up of six to eight entrepreneurs and investors to make recommendations and set policies.
The venture fund comes at a time when the University of Maryland-Baltimore is looking to increase entrepreneurial activity, including creating a new innovation center.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
Donate to the Journalism Fund
Your support powers our independent journalism. Unlike most business-media outlets, we don’t have a paywall. Instead, we count on your personal and organizational contributions.

Here’s what a recent Drexel grad wants you to know about hiring international students

Young and undocumented: These immigrants with college educations are keeping a low profile as they navigate an era of aggressive mass deportation

This Spanish-language startup program is breaking down barriers for immigrant entrepreneurs
