bio lab pilot
ABOUT THE PROGRAM
The Bio Lab Pilot is a reimbursement grant program created by the Montgomery County Economic Development Corporation (MCEDC) with funding support from the Maryland Department of Commerce.
MCEDC recognizes the financial challenges small BioHealth companies face when securing small wet lab space in the region. Because young BioHealth companies are not always well-suited for conventional financing mechanisms for lab and office fit-out, MCEDC’s year-long pilot project will award grants to small-scale biotech companies that are struggling to fund lab fit-out costs.
The Bio Lab Pilot will focus on growth-stage BioHealth companies that want to lease small wet lab space in Montgomery County that is less than 5,000sf. This project will not fund shared lab space or incubators.
Expanding local companies, new start-up companies, and relocating companies are eligible to apply for Bio Lab Pilot funds to fit-out newly leased lab space. Developers and building owners are ineligible to receive pilot program grants. APPLY FOR THE PROGRAM
The threshold criteria for a grant award will be demonstrated evidence of a funding gap that prevents a small BioHealth company from leasing and constructing lab space.
The grant requires the company’s one-to-one match towards fit-out costs. For example, if a company is awarded a $30,000 Bio Lab Pilot grant, the company must incur at least $60,000 worth of capital or equipment expenses to receive $30,000 as a reimbursement grant.
The Bio Lab Pilot defines a qualifying small BioHealth business as one with fewer than 20 employees. Businesses that will receive funding are those in a growth-phase that are no longer in need of incubator space.
The successful applicant must agree to maintain its headquarters/lab operations in the space for a minimum of 3 years, and lease wet lab space/office combined that is 5,000 SF or less. The grant award will provide $10/SF of wet lab fit-out costs, up to $30,000 per company.
During the pilot year, all MCEDC investments will be performance-based reimbursement grants requiring the company to complete the lab build-out project and maintain its lease and headquarters/lab operations in the County for three years in accordance with the Bio Lab Pilot Project Agreement. Clawback provisions will apply if these performance requirements are not met.
Funds within this program are limited and awardees will be selected at the sole discretion of MCEDC.
The Bio Lab Pilot is intended to help MCEDC better understand the needs of the County’s BioHealth industry. As part of this effort, the recipient of a Bio Lab Pilot grant will be asked to meet with MCEDC once a year for the term of the grant agreement to discuss a variety of business issues including, but not limited to, company progress, talent needs, housing and transportation challenges, future growth plans, supply chain needs, and sustainability and diversity efforts.
How to Submit
Application form PDF must be filled out and submitted to, and received by MCEDC, at the email address below:
Senior Business Development Specialist
Supporting documents required AT SUBMISSION
A. Copy of articles of incorporation (or similar documentation of company structure)
B. Copy of LOI or Lease
C. Proposal from licensed, bonded contractor detailing work to be performed and costs