Of the 16 companies to successfully complete the program, 81% are still in business and have raised over $2.5 million in follow-on funding
Baltimore, MD (PRWEB) September 29, 2014
The ETC (Emerging Technology Centers) http://www.etcbaltimore.com, Baltimore City’s award-winning technology innovation centers, announced today that The Abell Foundation will continue its support of AccelerateBaltimore™ for 2015. Six companies will be selected for this intensive 13- week program and will be awarded $25,000 each to help propel their business ideas forward.
“We are absolutely thrilled that The Abell Foundation is continuing its support of AccelerateBaltimore (AB),” said Deborah Tillett, ETC’s president. “Of the 16 companies to successfully complete the program, 81% are still in business and have raised over $2.5 million in follow-on funding.”
Baltimore Mayor, Stephanie Rawlings-Blake, also commented on the news. “AccelerateBaltimore continues to add to the economic growth of the City of Baltimore. We see this program as key to growing the city and making it THE place to start and grow your company. The continued success of ETC, AccelerateBaltimore and similar programs showcase the vibrancy, innovation and entrepreneurial energy that are possible in the City of Baltimore.”
AccelerateBaltimore targets companies that are innovative and technology-enabled. The program strives to attract the necessary human and financial capital, creating the perfect opportunity for success. Robert C. Embry, Jr., President of The Abell Foundation commented, “We are pleased to continue our support for the AccelerateBaltimore challenge to identify and attract entrepreneurial talent with great business concepts. The Emerging Technology Centers offers an outstanding accelerator program to help companies expand and create jobs in Baltimore City.”
Newly-appointed Baltimore Development Corporation (BDC) CEO Bill Cole commented, “AccelerateBaltimore has put Baltimore and the start-up scene in the spotlight for the last three years. AB graduate companies like Allovue and PrintlessPlans highlight Baltimore’s strengths in Ed-Tech and Hi-Tech Manufacturing. As the new CEO of BDC, I want to personally thank The Abell Foundation for their continued support and say that BDC is committed to working with all the AB companies as they go from start-up to the next stages of growth.”
ETC will begin accepting applications October 1, 2014, and selected participating companies will be notified by December 15.
About the ETC (http://www.etcbaltimore.com)
The ETC, a venture of the Baltimore Development Corporation, is a 501(c)(3) technology and innovation center focused on growing early-stage companies. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow. Since 1999, ETC has provided assistance to over 350 companies, 87% of which are still in business having raised over $1.6 billion in outside funding and creating more than 2,325 jobs.