FREDERICK, Md.--(BUSINESS WIRE)--The Maryland Tech Council (MTC) announces today that it will receive $250,000 in funding from Montgomery County to continue to assist tech and life science entrepreneurs in Maryland who are navigating the economic downturn due to COVID-19 through the organization’s Business Continuity Task Force (BCTF). Comprised of experienced business leaders who have led companies through financial crises such as the 2008 Recession, the MTC’s BCTF expects to assist more than 85 Montgomery County businesses over the next year.
The Business Continuity Task Force focuses on life science and technology companies with more than one full-time employee and less than 250 employees. Highly experienced mentors provide the support and guidance at no charge to the companies, and the terms of the engagements are open to accommodate ongoing needs of each company.
“We are pleased that Montgomery County values and is providing much-needed support for the Business Continuity Task Force,” said MTC CEO Martin Rosendale. “With these funds, we will be able to help companies address some of their immediate needs, while also working to support them in developing recovery plans and executing on them.”
Once a company has applied online to the program and been approved, a member of the BCTF team will set-up an initial discovery discussion focused on the challenges the company is facing. Following the discovery session, the MTC Task Force Member may provide immediate guidance and assistance and/or refer other specialists to the company for support. Each Task Force Member has the ability to tap other Task Force Members to assess issues and challenges, while also assessing if a contractor referral or introduction to another resource might be needed for more complex challenges.
“This is a great opportunity for Montgomery County to support recovery in our life science and tech sectors,” said Montgomery County Councilman Hans Riemer. “The Tech Council’s program is now growing in the County at a time when it is needed the most. Together we will help companies maximize their resiliency and reimagine their future.”
Guided by policies and principles of the Maryland Tech Council Venture Mentoring Services (MTC VMS) program, which has it roots in Montgomery County, the Business Continuity Task Force is utilizing many mentors from the MTC VMS program and is focused on driving results for each company involved.
Small to mid-size businesses in the life sciences and technology industries are invited to apply online to be matched with a Task Force Member to receive assistance. Companies should apply at the following link:
About Maryland Tech Council
The Maryland Tech Council (MTC) is a collaborative community that is actively engaged in building strong technology and life science industries by supporting the efforts of our individual members. We are the largest technology and life sciences trade association in the state of Maryland, and we provide value by giving members a forum to learn, share, and connect. MTC brings the region’s community together into a single, united organization that empowers our members to achieve their business goals through advocacy, networking and education. The vision for the Maryland Tech Council is to propel Maryland to become the number one innovation economy for life sciences and technology in the country. For more information: mdtechcouncil.com.