“The impact of ACTiVATE’d women is a noteworthy driver of economic development and is projected to multiply significantly in the coming years," Path Forward CEO Julie Lenzer Kirk.
Damascus, MD (PRWEB) September 21, 2010
The Path Forward Center for Innovation and Entrepreneurship released today the results of an independent economic impact study completed by Sage Policy Group, Inc. and Nearing Group, to assess the economic impact of its flagship program, ACTiVATE®. Presented key findings from the study showed jobs resulting from the program cost less than 20 percent of federal government budgets for each new job through the American Recovery and Reinvestment Act. According to the Council of Economic Advisers to the President, the estimates for jobs created by direct government spending indicate $92,000 of spending to create each job. In contrast, the ACTiVATE program at UMBC produces jobs for an investment of $15,600 per job.
The ACTiVATE program (Achieving the Commercialization of Technology in Ventures through Applied Training for Entrepreneurs) originated in 2005 at the University of Maryland, Baltimore County (UMBC) through a grant from the National Science Foundation’s Partnerships for Innovation program as a systematic model for training entrepreneurs and commercializing technologies developed by universities and federal laboratories. Having received international acclaim and numerous awards, including “Best Specialty Entrepreneurship Program” from the U.S. Association of Small Business and Entrepreneurship (USASBE), ACTiVATE was licensed exclusively by the Path Forward Center for Innovation and Entrepreneurship in March of this year.
“ACTiVATE at UMBC enables and empowers mid-career women to launch and grow technology companies, which create jobs and generate increased tax revenues benefiting the State,” Stephen Auvil, Assistant Vice President of Research for UMBC noted. “So far 29 new companies have been launched in the region; moreover, other companies, which had existed prior to the program, have expanded as a result of the ACTiVATE® program. These outcomes have resulted in more than 77 new technology jobs for our workers and a return of nearly $700,000 back to Marylanders at the State and Local levels through these businesses’ generated income taxes. ACTiVATE® is a training program unlike any other in the marketplace and is poised to expand rapidly to other universities and community colleges around the country through our licensee, the Path Forward Center.”
The Path Forward Center has received significant interest from other States and internationally for expansion and continues to welcome additional partners to help drive this impactful program into states and communities that are seeking to benefit from job creation, revenue generation and the economic empowerment of women and minorities.
“This study confirms what we’ve seen in teaching the program over the past 5 years,” said Julie Lenzer Kirk, CEO of the Path Forward Center for Innovation and Entrepreneurship and long-time ACTiVATE instructor, “The impact of ACTiVATE’d women is a noteworthy driver of economic development and is projected to multiply significantly in the coming years as more and more institutions in States around the country and also internationally license the program, taking advantage of this incredible job and revenue generator.”
For the full economic impact study, visit http://www.ActivateProgram.org.
Organizations interested in additional information on the ACTiVATE program, licensing options and/or sponsorship opportunities should contact:
Julie Lenzer Kirk
CEO, Path Forward Center for Innovation and Entrepreneurship
About the Path Forward Center for Innovation and Entrepreneurship:
The Path Forward Center for Innovation and Entrepreneurship has been formed as a nonprofit to help women with intellect and intent to start and expand businesses beyond themselves. Its inaugural program, ACTiVATE, helps women start technology-based businesses from a variety of sources including technology transfer and then brings together complimentary programs to help women build capacity as they grow and scale their businesses. http://www.PathForwardCenter.org.
UMBC is a medium-sized public research university of 12,000 undergraduate and graduate students who collaborate with faculty to address real-world challenges. Located just south of Baltimore near I-95 and the BWI airport, UMBC's residential campus houses state-of-the-art facilities in the sciences, engineering, arts, social sciences and humanities. UMBC combines the energy of a research university with the close community feel and attention to individual students found in liberal arts colleges.