1776 Gets $200k Grant From DC, VCs Could Be Cut Out Of InvestMaryland

In the News: DC

Mayor Vincent Gray confirmed that the District is giving 1776 a $200,000 grant to assist its development.  Naturally, the grant comes with conditions: 1776 must remain in the city for five years, offer 20 percent of the seats in the startup school to unemployed D.C. residents, allow D.C. youth to access the space once a quarter, and partner with other incubators in the city. Source: Washington City Paper

In the News: Maryland

Del. Mark Fisher, a Republican from Calvert County, has introduced a bill to cut venture capital firms and the Maryland Venture Fund Authority out of the  InvestMaryland program. Instead, he wants the fund’s $84 million to be distributed to the economic development agency for each county and for Baltimore. Source: Washington Business Journal

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