Apply for up to $125,000 in Early-Stage Seed Funding upon Completion of the Accelerate Baltimore Program
BALTIMORE (January 18, 2018) – The ETC (Emerging Technology Centers), Baltimore City’s award-winning technology and innovation centers, announces the Accelerate Baltimore (AB) program will run for its seventh consecutive year and applications are now open. The ETC will select six tech startups for the 13-week program set to begin mid-March. The Abell Foundation has awarded ETC $250,000 in funding for this seed accelerator for the third year in a row. Based on the model of last year’s successful program, each of this year’s AB winners will be awarded $25,000 in seed stage funding, while one company will be awarded an additional $100,000 in follow on funding at the end of the program.
“ETC’s Accelerate Baltimore Program has received national and global recognition for its continued best practices and successes. To date, the companies that have completed AB have created over 95 jobs and made a significant impact on the City of Baltimore. This program continues to add value to the companies that participate and for Baltimore” said ETC President, Deborah Tillett.
Accelerate Baltimore aims to close the gap between innovative ideas and the ability to get to market quickly. In addition to the seed funding, these companies will receive free office space, access to a high-level advisory team, a “hands-on” instructional program, mentors and connections to potential investors, partners and resources.
“The Abell Foundation began funding Accelerate Baltimore seven years ago on a promise that selected companies would put down roots, attract capital, grow their companies, and create jobs in Baltimore City. The ETC has made good on that promise to date,” said Robert C. Embry, President of the Abell Foundation.
“Baltimore is gaining increased recognition as a hub for technology and the ETC plays an important role in nurturing and supporting small business development growth in the tech sector,” said William H. Cole, president & CEO of the Baltimore Development Corporation. “Designed to attract the best and brightest technology entrepreneurs and early-stage companies, the Accelerate Baltimore program aims to speed up product launch and development of businesses with high potential for job creation, and to promote and market Baltimore as a great city to locate and grow a technology business.”
To date, 34 companies have gone through the AB program and successfully launched their products. The AB program ends with Investor Pitch Night attended by angel investors, venture capitalists and media. Last year, judges awarded the additional $100,000 to Chord, a smart pet collar that uses vibrations to supplement positive, rewards-based training. Other AB graduates include Arbit, Mybestbox, Loople, Brinkbit, Allovue, Fusiform, Reciprocare and Further Insights. Of the $1,025,000 awarded from the Abell Foundation to Accelerate Baltimore companies to date, AB graduates have raised an additional $15.7 million in follow on funding.
Applications are available at www.acceleratebaltimore.com starting January 18, 2018 and will close on February 18, 2018.
About ETC (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 provides four programs for entrepreneurs: a tech-focused incubator, Incubate Baltimore; a seed accelerator program, Accelerate Baltimore; a coworking space open to innovative individuals and teams, Beehive Baltimore; and a 9-week idea bootcamp powered by COSTARTERS, Pioneer Baltimore. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow. Since 1999, the ETC has provided assistance to over 450 companies, 85% of which are still in business, creating more than 2,500 jobs and raising more than $2.4 billion in outside funding.