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University Of Maryland

Location

College Park, MD

Project Name

MAVRIC: Fostering an Immersive Media Innovation Ecosystem

Program

i6

Award Amount

Federal Share

Non-Federal Share

$500,000.00

$639,418.00

This EDA investment will fund the launch of UMD’s Mixed/Augmented/Virtual Reality Innovation Center (MAVRIC). The Center will accelerate the commercialization of promising Immersive Media (IM) technologies, and fill the regional gap in the technology cluster by creating a network of influencers, executive champions, and support groups for IM startups. MAVRIC will also focus on increasing the number of STEAM students from both urban and rural underserved communities. By the end of the grant, it is expected that a minimum of 10 new companies will be started in the region. Two years after the end of the grant, 20 new companies will be started, and 50 new companies will be started five years after the end of the grant.

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National Advisory Council on Innovation & Entrepreneurship (NACIE)

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