Maryland Entrepreneurs Get a Head Start with the USM Launch Fund
Baltimore, Md. (Oct. 28, 2024) -- The University System of Maryland (USM) Launch Fund has awarded a series of microgrants and grants to USM-affiliated entrepreneurs, in a bid to make critical early capital more accessible. Launch Fund awardees are students, alumni, staff, faculty, and startups developing ventures that are based on USM intellectual property or are located in places affiliated with USM universities.
The program, administered by the USM Office of Research and Economic Development, connects entrepreneurs with essential resources and mentorship opportunities, and fills a gap in initial funding for start-up ventures.
“Every day, our people hatch ideas to solve some of the greatest challenges we face; that improve our quality of life; that fill a critical market need,” said USM Chancellor Jay A. Perman. “The USM ranks 9th in patents among U.S. public institutions. We’re 21st worldwide. But the most common obstacle entrepreneurs face in turning their ideas into innovations is early capital. I’m so proud that the USM Launch Fund is tackling this problem head on, so that we can make and market the products that will benefit so many.”
The Launch Fund began last year as a pilot program approved by the USM Board of Regents. Over the three-year pilot, the USM will distribute $600,000 in grants to USM ventures, and $100,000 in microgrants (funded by the USM Foundation) to advance entrepreneurship among USM students, faculty, and staff. In this round of funding, about $260,000 was awarded in microgrants and grants ranging from $4,000 to $25,000. The 2023 round distributed $280,000.
Through the Launch Fund, the USM is committed to supporting innovators who may have been historically overlooked, providing them the foundational capital necessary to overcome barriers and pursue their creative endeavors.
“At the end of a PhD, you often face the decision between academia or industry; research or product development,” said Garrett Crutcher, founder of Fern Computing, a grant recipient. “With the USM Launch Fund’s support, I’m able to turn my research into a product. The funds will be used to purchase state-of-the-art equipment and cover legal fees needed to finalize my research and begin product testing. I’m thankful the Launch Fund is providing me a ladder and support to overcome the socioeconomic barriers of starting an AI tech company.”
The following USM universities are receiving microgrants to help students, staff, and faculty advance their entrepreneurial activity: Bowie State University, Frostburg State University, Salisbury University, Towson University, the University of Baltimore (UBalt), the University of Maryland, Baltimore County (UMBC), and the University of Maryland Eastern Shore (UMES).
“Our microgrants are designed to empower underrepresented student entrepreneurs,” said Pamela Allison, PhD, endowed chair and professor of practice in Entrepreneurship and Program Innovation at UMES. “These grants provide crucial funding that was previously inaccessible, enabling students to build on the skills and knowledge gained through our workshops and seminars, as they take their business to the next level. We help them ‘build a business to soar above and beyond.’”
GRANT RECIPIENTS
HEALTH AND ENVIRONMENTAL VENTURES
Aquatic Circle LLC is an advanced water filtration system that provides clean water without the use of chemicals. Aquatic Circle LLC is located in Allegany County in a community affiliated with Frostburg State University, and is founded and led by Dr. Dung Minh Hoang.
Contact: minhdung.hoang@gmail.com
NDN International LLC is a patented efficient and portable hand-washing station for both indoor and outdoor use. A hands-free faucet and soap dispenser make it easily accessible to children, adults, and consumers using wheelchairs. NDN International LLC is located in Montgomery County and was founded by Naa Nyanin, a UBalt alumnus.
Contact: naa.nyanin@gmail.com
Amron Home and Health LLC designs unique accessories for CPAP users, removing the stigma of using a CPAP machine and providing convenience for travel. Located in Hyattsville, Amron Home and Health is led by UMBC alumna Debora Fajer-Smith and two UMBC students, Scotty Collinson and Nikos Bourazanis.
Contact: debora.fajersmith@amronhomeandhealth.com
Sustainabli is building an easy-to-retrofit IoT system to monitor and promote energy-efficiency and safety in labs and hospitals. Located in Baltimore City, Sustainabli is led by Kevin Tu, a University of Maryland, College Park (UMD) alumnus and medical student at the University of Maryland, Baltimore (UMB).
Contact: kevin@sustainabli.org
INNOVATIVE ESSENTIALS VENTURES
NAK Design Studio is a bridal fashion tech agency that enhances the online bridal shopping experience. Their flagship product, MatchAGown, is an AI-powered gown matchmaking tool. NAK Design Studio is located in Baltimore City and was founded by Nichole Harris, a graduate student at UMBC.
Contact: info@nakdesignstudio.com
SmartlabX designs custom web solutions, helping small companies solve complicated business problems. SmartlabX is located in Washington, DC, and was started by Femi Adisa, a UMBC undergraduate.
Contact: Info@smartlabx.com
Nina’s Cookie Explosion is a Black-woman-owned cookie shop that delivers classic and customizable cookies and doughs. Founded by Salisbury University alumna Nina Ross, the company is located in Baltimore City.
Contact: info@ninascookieexplosion.com
Xeddy gives college students discounts and rewards for ordering at local restaurants. Xeddy is located in Baltimore City and was founded by UMBC alumnus Basil Udo.
Contact: basil@xeddy.app
Good + Plenty Naturals is a Baltimore-based social enterprise on a mission to empower women to live cleaner and healthier lifestyles. Founded by UMBC alumna Nishan Gugsa, Good + Plenty offers safe and effective natural personal care products that work with your body, not against it.
Contact: info@goodplusplenty.com
EDUCATION AND EMPOWERMENT VENTURES
The Extraordinary Library Adventure, a children’s media company, is pioneering K–12 edutainment products that inspire, empower, and nurture young minds. Their vision is “a world where every child feels extraordinary.™" Located in Prince George’s County, The Extraordinary Library Adventure was founded by UMD alumnus and former Bowie State University staff member Travis Kevin.
Contact: MediaRelations@ExtraordinaryLibrary.com
Fem Equity LLC is the leading SaaS dedicated to advancing professional women’s financial outcomes to six figures while improving pay, career fulfillment, and more. Fem Equity is located in Baltimore City and was founded by Adeola Ajani, a Towson University alumna.
Contact: adeola@femequity.us
Imagining Reality Insights & Solutions Inc. is an edtech company developing a VR reading intervention designed to achieve reading comprehension through various modalities that place the user at the center of their experience. The company is led by Anne-Laurence Nemorin, a UMD alumna, and was founded by UMD professors Donald J. Bolger, Drew Baden, and Juan Uriagereka. It’s located in Baltimore City.
Contact: anne_nemorin@iris-xre.com
Cursive Technology, Inc. is a radically better approach to assessing writing for class—by relying on ‘proof of effort,’ transparency in the writing process, and reflecting student and AI writing without bias or false positives. Cursive Technology Inc. is located in Baltimore City and was founded by UMD alumnus Joseph Thibault.
Contact: contact@cursivetechnology.com
Baltimore Venom is a minor league, professional basketball team from Baltimore City. It’s a member of The Basketball League, which uses professional sports as a vehicle for social change. Baltimore Venom was founded by Charles Carrington and UMBC alumnus Jacob Dennis.
Contact: strike@baltimorevenom.com
Fern Computing is developing a zero code, easy-to-use AI platform designed for education and development. Inspired by brain development, Fern Computing’s algorithms excel at accuracy, interpretability, and energy efficiency. Fern Computing is located in Baltimore City and is led by UMB alumnus Garrett Crutcher.
Contact: info@ferncomputing.com
Contact: Mike Lurie
Phone: 301.445.2719
Email: mlurie@usmd.edu
