SEED INVESTMENT · IDEA FACTORY AND MARYLAND DNR
The Chesapeake Bay Seed Capital Fund is an investment fund that supports early-stage startup companies developing technologies that aid in the restoration of the Chesapeake Bay.
Initial Investment
Up to $150,000
All-in with Follow‑on
Up to $300,000
Stage
Seed, past prototype
Applications
Rolling
Overview
The Chesapeake Bay Seed Capital Fund invests in companies with innovative solutions that can help improve air and water quality in the Chesapeake Bay watershed.
Investments are jointly selected by investment staff at the Maryland Technology Enterprise Institute (Mtech) and technical staff at the Maryland Department of Natural Resources (DNR).
The Chesapeake Bay watershed.
01
Reduce nitrogen, phosphorus, and sediment to the Chesapeake Bay and its local tributaries, specifically from:
Agricultural lands including cropland, pasture, and animal production
Urban and agricultural stormwater runoff
Other nonpoint sources such as septic systems
02
Mitigate climate change impacts by reducing atmospheric greenhouse gas emissions from the energy, transportation, and agricultural sectors
03
Utilize natural filters and living resources to reduce nutrients, sediment, and greenhouse gas emissions
04
Provide climate adaptation or resilience benefits
Funding
Initial Investment
Up to $150,000
all-in including follow-on investment(s) of up to $300,000
Investment Type
Preferred equity
Convertible debt
SAFE notes
Profit-share agreements
Criteria
The Chesapeake Bay Seed Capital Fund is looking for companies that meet the following criteria:
Applications are accepted on a rolling basis. Questions? cbscf@umd.edu
01
Company can demonstrate a positive impact on the Chesapeake Bay as a result of their solution
02
50% of full-time employees must be located in Maryland
03
Economic benefit to Maryland (incl. green job creation)
04
Potential to generate market returns
05
Seed stage: companies in early commercialization development stages (i.e., advanced beyond prototype)
06
Clear milestones with reasonable chance to achieve (including funding)
Industries of Interest
Please note that this list is not all-inclusive. If you think that your company might fit the criteria for the fund, please apply.
Batteries/Fuel Cells
Agritech
Aquatech
Renewable Energy
Electric Vehicles
Stormwater Solutions
Air Emissions
Natural Filters
Select Portfolio Companies
Neighborhood Sun is bringing community solar to the 80% of Americans who cannot access rooftop solar.
N5 Sensors is commercializing sensor technology to detect wildfires.
Datakwip integrates with your existing systems and fills in your data gaps to provide energy consumption, cost, and improvement insights, no hardware needed.
Dynamhex makes carbon emissions measurement, reporting, and reduction easier.
PaverGuide creates clean runoff by advancing permeable pavement through lowering costs, improving pollutant removal, and reducing environmental impacts.
Aqualith Advanced Materials is commercializing new battery technology including an ultra-high energy cathode, a novel silicon anode, and a non-flammable aqueous electrolyte.
Manta Biofuel is using algae to make a cost-competitive, renewable replacement for crude oil.
Advanced Bionutrition offers environmentally sustainable and science-based bioactive stabilization and delivery solutions to the agricultural industry.
Impact Report 2025
$14.2M
Revenue generated by invested-in Maryland companies in 2024
71
Jobs created nationally
52
Jobs created in Maryland
$3.4M
Total investments since 2008
Chesapeake Bay Seed Capital Fund Team
Manager, Mtech Ventures & Chesapeake Bay Seed Capital Fund
Mtech
Innovative Technology Coordinator, Chesapeake and Coastal Service
Maryland Department of Natural Resources
Please reach out to Scott Christensen at schris14@umd.edu if you have any questions.
Advisory Board
Jolene Gurevich
Director of Fellowship Experience, Breakthrough Energy
Andrew Rose
Managing Director - Agriculture and Food, Global Deployment Partners
Dan Goodman
Managing General Partner, Sandy Spring Climate Partners
Mike Ravenscroft
Managing Director, Maryland Momentum Fund
Faith Davis
Lead, Climate Change Investment Initiative, Exelon Corporation
John Paul Moscarella
international clean energy and climate finance executive
Mike Ducker
Associate Director, Maryland Energy Innovation Accelerator (MEIA)
Investment Executive Committee
Bill Bentley
Robert E. Fischell Distinguished Chair & Inaugural Director of the Robert E. Fischell Institute for Biomedical Devices Fischell Department of Bioengineering, University of Maryland
Dean Chang
Chief Innovation Officer, University of Maryland, College Park
Greg Oler
Chief Financial Officer, University of Maryland, College Park
Stan Smith
Managing Director, UMCP Ventures
Nigel Long
Senior Managing Director, Trade Street Advisors (non-voting)
University of Maryland, College Park Venture Funds (UMCP Ventures)
Sarah Lane
Center Director (Maryland Department of Natural Resources)
Stan Smith
Managing Director (Office of the Chief Innovation Officer)
Scott Christensen
Manager (Mtech)
Anntoinette Barbour
Business Operations (Office of the Chief Innovation Officer)
Sammy Popat
Donor/Investor Relations (Office of the Chief Innovation Officer)
