Montco Made is a partnership between the Montgomery County Industrial Development Authority and Ben Franklin to invest $1M in emerging and growing companies in Montgomery County.
Ben Franklin has partnered with the Montgomery County Industrial Development Authority (MCIDA), an independent economic development authority, to launch the Montco Made Investment Initiative, a partnership committing $1 million in investment to emerging and growing companies located in Montgomery County. Ben Franklin and MCIDA are each committing $500,000 to invest in new technology companies and existing companies looking to apply new technologies to their businesses located in Montgomery County.
Q: What is it?
A: An investment fund specifically focused on seed and early-stage ventures, providing $1M in funding for Montgomery County-based businesses. Goals of the fund are to bring attention and capital to startups at the earliest stage feasible and to make successful investments.
Q: How does it work?
A: Ben Franklin and the Montgomery County Industrial Development Authority have each pledged $500,000 to fund the growth of seed and early-stage companies in, committed to locating in, or with significant business presence in Montgomery County.
Ben Franklin will be responsible for due diligence on prospective companies. Ben Franklin will manage the investments in qualifying companies.
Q: Will other investors be able to participate in these rounds?
A: Yes. Additional investors are encouraged and welcome. Like all investments managed by Ben Franklin, Invest Montco will require matching investments in each round.
Q: What companies can qualify for this funding?
A: Seed and early-stage technology companies located in, committed to locating in, or with significant business presence in Montgomery County.
Q: Can companies receive multiple rounds of funding from this partnership?
A: Yes, companies can pursue multiple rounds of funding.
Q: How can companies pursue this funding opportunity?
A: Interested companies should initiate discussions with Ben Franklin. Learn more at www.sep.benfranklin.org, and by attending one of the regular Meet Ben events throughout the region.