Howard County is thinking about the future. And they are doing so by creating a new incubator that would help companies with a socially conscious focus to develop and grow. The new program is called the Conscious Venture Lab. It’s a partnership between Howard County and the Porter Group LLC which is based in New York. They plan to house the incubator in the county’s Maryland Center for Entrepreneurship.
As Ken Ulman, County Executive, recent said, “I just really believe there is a place for companies that want to generate significant profit but also have a mission of giving back to the community in some way.”
The Porter Group is a small investment bank and they are the ones that developed the Conscious Venture Lab. With their agreement with Howard County, they will launch a venture fund that would invest as much as $25,000 in each company that comes to the incubator. Howard County has put aside a total of $800,000 over the next two years for the program