Soft landing programs provide temporary homes for companies looking to expand to the U.S.
BALTIMORE, MD (June 7, 2021)
– At the 2021 SelectUSA Investment Summit today, Maryland Department of Commerce Secretary Kelly M. Schulz announced a new program to match international prospects with local incubators throughout the state. The Maryland Soft Landing Program
will be an effort to promote existing “soft landing” programs in the state’s various business incubators, while growing Maryland’s hub of international companies.
The announcement was made during the virtual SelectUSA Tech pitch competition at the annual SelectUSA Summit, which attracts thousands of participants from more than 70 foreign markets, including high-potential startups in the medtech, cybersecurity, aerospace, cleantech and fintech industries.The Maryland Department of Commerce participated as a SelectUSA Tech sponsor.
“Maryland is the perfect destination for foreign companies looking to grow their business in the United States,” said Governor Larry Hogan. “With assistance from this program, we hope to help global companies make a seamless transition into the U.S. market, and form new relationships with businesses across the globe.”
Soft landing programs provide international companies with the opportunity to test out new markets at an affordable rate, with access to business resources, educational programs, mentors and advisors, and/or networking events. By enabling foreign companies to locate in Maryland for up to three months at an office or co-working space, the department hopes to convert these prospects into permanent residents of Maryland’s business community.
In addition to the promotion of local incubators, Maryland Commerce will support the soft landing programs by offering matchmaking meetings and one-on-one counseling for participating companies to provide guidance on the business registration process, Commerce’s services and resources, and more. The department is also working on agreements for soft landing programs in other countries, which would allow Maryland businesses to explore new markets if interested in opening an additional office abroad.
“Soft landing programs are an excellent opportunity to recruit international companies to Maryland, and for our local businesses to consider expanding overseas,” said Secretary Schulz. “We look forward to working with new prospects from around the world and building on these relationships for years to come.”
If you are a Maryland organization who is considering launching a soft landing program, or you currently offer a similar opportunity, please reach out to Jessica Reynolds, firstname.lastname@example.org
, to learn more about joining our promotional program. For more information visit commerce.maryland.gov/softlanding