Frederick Maryland Emerges as Premier Soft Landing Destination for Science and Tech Companies Eyeing the U.S. Market
June 21, 2024
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Maryland is recognized as a prime destination for international companies seeking to establish a foothold in the U.S. market, and the Maryland Global Gateway Soft Landing Program has become a major asset to companies. This initiative offers foreign businesses a cost-effective way to explore opportunities in the United States without the need for a full-scale commitment right away and it relies on key partners such as Frederick’s FITCI to support the success of the program.
This week Frederick leaders will be hosting 20+ soft landing companies as part of a spin-off event tied to the Select USA Conference.
Why Maryland?
Maryland’s strategic location, robust infrastructure, and vibrant life sciences community make it an ideal soft-landing spot for international companies. The state’s proximity to major cities like Washington D.C., New York, and Philadelphia provides unparalleled access to key markets and decision-makers. Additionally, Maryland’s supportive ecosystem is characterized by numerous innovation hubs and research institutions such as Johns Hopkins and University of Maryland, it is home to the NIH, FDA, CMS and 63 federal labs, as well as a skilled workforce, and presents a conducive environment for business growth and development.
Why Frederick?
Frederick, with its strategic location as the northern anchor of the I-270 Technology Corridor, offers an ideal setting for international businesses looking to establish a U.S. presence. Home to over 287,000 residents, the county boasts a superior quality of life, a highly educated workforce, and abundant commercial opportunities. The region fosters a strong startup and investment community with incubators such as FITCI and flexible startup lab space such as I-270 Innovation Labs. The Frederick County and City Office of Economic Development supports businesses through site selection, workforce recruitment, training, and incentives, ensuring a seamless setup and expansion process. Discover how Frederick combines creativity, innovation, and robust infrastructure to drive monumental business success.
Frederick is home to more than 120 life science companies, including international companies such as AstraZeneca – The British-Swedish biopharmaceutical company, Grifols – A Spanish multinational pharmaceutical and chemical company, Lonza – A Swiss multinational chemical and biotechnology company, and Eurofins – A Luxembourg-based international life sciences company providing testing and support services.
FITCI: A Key Partner in the Soft Landing Program
A standout partner in this initiative is the Frederick Innovative Technology Center, Inc. (FITCI) in Frederick, MD. FITCI provides a tailored, comprehensive approach to help international companies scale their businesses in the U.S. market. Their focus spans four critical areas: Coaching, Capital, Connections, and Customers.
- Coaching: FITCI surrounds entrepreneurs with experienced CEOs and advisors who offer guidance and support.
- Capital: They have a robust strategy for capital readiness, helping businesses secure necessary funding.
- Connections: FITCI leverages its extensive network to connect companies with potential partners, customers, and key industry players.
- Customers: They assist businesses in identifying and reaching their target customer base, facilitating growth and market penetration.
The Maryland Global Gateway Soft Landing Program
The Maryland Global Gateway Soft Landing Program is designed to help international companies navigate the complexities of entering the U.S. market. The program partners with various organizations to offer a comprehensive package of services that facilitate market entry and business development. The application portal is open through July 12, 2024. Companies interested in applying can do so without needing a partner organization already in place.
Key Features and Benefits:
- Affordable Market Exploration: The program offers international companies an affordable way to test the U.S. market. Companies can physically locate up to two staff members for six months at partner business facilities, providing a “plug and play” environment with essential amenities like internet and conference space.
- Extensive Resources and Support: Participants gain access to a range of learning, networking, and mentoring services offered by partner organizations. This includes educational programs on various business topics, strategic networking events, and access to mentors, advisors, or entrepreneurs-in-residence.
- Targeted Matchmaking: The program facilitates at least five targeted matchmaking meetings with Maryland-based companies, industries, and other organizations, helping international companies establish crucial connections and partnerships.
- Regulatory Assistance: Participants receive help with business registration and navigating state regulations, ensuring a smoother entry into the U.S. market.
The Maryland Global Gateway Soft Landing Program stands out as a valuable opportunity for international companies looking to expand into the U.S. market and Frederick has emerged as a key partner in this initiative. With its strategic location, robust resources, and supportive ecosystem, Maryland offers a welcoming environment for business growth and innovation. For companies ready to take their first step into the U.S., this program provides the ideal soft landing.
For more information and to apply, visit the Maryland Global Gateway Soft Landing Program application portal. Don’t miss the chance to explore the U.S. market from one of its most dynamic states.
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