The University of Maryland College Park has teamed with the State to create a new international incubator, part of Gov. Martin O'Malley's new Maryland Growth Strategy. It is the state's first incubator intended solely for foreign-owned businesses and will provide competitively priced leasing space to foreign companies.
The first tenant and anchor for the new incubator is the University of Maryland-China Research Park (UMCRP). Created in collaboration with the China Ministry of Science and Technology, the research park offers help to private Chinese businesses looking to set up shop in Maryland and bring jobs to the state.
The UMCRP will encourage collaboration in areas including, health care, environment, agriculture, energy and fire protection. It will provide hands-on business consulting, funding introductions, investment opportunities and networking with potential customers and partners. It will also offer direct access to the University's world-class faculty, research facilities, students, training and other business resources.
Chinese companies that are relocating to the U.S., creating a U.S. subsidiary or investing in or acquiring a U.S. company are eligible to apply for office space in the Research Park.
Set to launch later this year, the new incubator will be located near the College Park campus.
Writer: Walaika Haskins
Source: University of Maryland College Park