Maryland Tech Council awarded CARES Act grant to expand biz mentorship services
With the $378,000 grant, the org can now expand its Business Continuity Task Force to small businesses in the City of Baltimore, Baltimore County and Prince George’s County.
Maryland Tech Council (MTC) received a $378,000 grant through the federal CARES Act to expand its free mentorship services by executives to City of Baltimore, Baltimore County and Prince George’s County.
The program is the Business Continuity Task Force through which entrepreneurs apply and are paired with executives who can use their experience navigating crises like, for instance, the 2008 recession to aid those navigating the economic impact of COVID-19. Before the grant with the U.S. Economic Development Administration, the MTC only had the capacity to assist businesses in the Montgomery County corridor. The grant hasn’t put $378,000 in the MTC coffers but it does allow the organization to reimburse expenses for the expansion to the new areas of Maryland.
“Maryland is a tremendously collaborative environment. That’s why we can get 160 experienced executives to volunteer their time to be mentors to others,” said MTC CEO Marty Rosendale. “It’s that value we can leverage to help other companies succeed and establish stronger industries in the state.”
The mentorship program is open to businesses with more than one and less than 250 employees in Montgomery County, Baltimore County, Prince Georges County and Baltimore City, whether they work in the tech and life sciences industry or not. MTC’s services are free, but any referrals to lawyers or vendors are not; association with the org may connect entrepreneurs with discounts.
Entrepreneurs can apply at the MTC site, and within 24 hours they can expect a triage call to discuss the challenges a business is facing and how the MTC can assist.
“If a CEO has any doubt whether they should apply, they should apply just to find out,” Rosendale said. “We’ll walk them through it, give them more information and help them make the decision.”