The FIPS Certification Grant Program helps to defray the costs of obtaining FIPS 140-1/140-2 certification, which in some cases can exceed $100,000. FIPS provides a certification of product performance testing to four security levels, and makes possible the sale of your product into the government and military, especially into agencies that use this designation as a prerequisite for implementation.

Qualified businesses with up to 30 full time employees with annual sales revenues of up to $5 million are eligible to apply for a FIPS Certification Grant. Companies may receive 40% of the Grantee's eligible costs of obtaining the requested FIPS certification, up to $50,000.  

Eligible FIPS certification expenses include consultant fees, engineering costs, testing and certification fees/costs, and other costs that are deemed to be directly related to FIPS certification efforts.

Administered by the Maryland Venture Fund

The Maryland Venture Fund, started in 1994, is a state-funded seed and early-stage equity fund.  The Fund is an evergreen fund and receives annual allocations from the Maryland State Legislature.  The Fund makes direct investments in technology and life science companies and indirect investments in venture capital funds.  Approximately 60 percent of the Fund is invested in technology companies in the areas of software, communications and IT security, and 40 percent of the Fund is invested in life sciences companies in the areas of therapeutics, medical devices and diagnostics.  The Fund has invested as a limited partner in a total of nine venture funds since 1994.