Maryland Expands Support for Its Growing Cyber Industry
Montgomery County’s cybersecurity companies were big winners in Annapolis this spring, with two state programs designed to grow our cyber industry.
Angel investors and venture capitalists who invest at least $25,000 in Maryland cybersecurity companies will now receive tax credits, directly.
This is particularly good news in Montgomery County, where access to capital was a challenge highlighted by entrepreneurs in MCEDC’s cyber-workgroup report from 2017.
That same report also identified access to local customers as another challenge, and the recent state legislation addresses that, too.
Small businesses that purchase Maryland-made cybersecurity products and services will be eligible for a tax credit on their purchase. Supporting buyers strengthens the local supply chain, and proves that #MoCoMade isn’t just for kale!