Baltimore's ETC (Emerging Technology Center) Announces Eighth Year of AccelerateBaltimore

BALTIMORE, Nov. 5, 2018 /PRNewswire/ -- ETC (Emerging Technology Center), Baltimore City's award-winning technology and innovation center, announced today that its AccelerateBaltimore program will run for its eighth consecutive year, with funding from the Abell Foundation. Six companies will be competitively selected for the program, each receiving initial seed funding of $25,000 and $100,000 in follow-on funding will be awarded to one AccelerateBaltimore company judged to have the greatest potential for growth. ETC will accept applications from October 22 through December 10, 2018 at www.acceleratebaltimore.com.

"The ETC's focus is on making an economic impact on the city of Baltimore, one entrepreneur at a time. The value of early stage funding and support is critical to the success of a startup, which is why the continued support of the Abell Foundation is so important to this program," says Deborah Tillett, ETC's president.

"The AccelerateBaltimore program has a terrific track record of helping entrepreneurs overcome technical issues, navigate changing markets and address financial challenges to boost commercialization of new products and services. Through their participation in the program, these start-up businesses increase the economy and vitality of Baltimore City," said Robert C. Embry, Jr, President of the Abell Foundation.

As ETC has grown the cohorts over the past eight years, city-based partners like the Baltimore Development Corporation (BDC) are critical factors in the continued support of these companies after they complete AccelerateBaltimore.  

"BDC is proud to support ETC in providing the start-up community with the resources and programs the City has available," said William H. Cole, president and CEO of the Baltimore Development Corporation. "Our goal is to assist these companies in putting down roots, attract capital, grow their businesses, and create jobs in Baltimore City."  

AccelerateBaltimore's 13-week program provides extensive resources in addition to the seed funding. The companies receive free office space, access to a high-level advisory team, a hands-on instructional program, mentors, connections to potential investors, partners, and resources and a collaborative environment.

To date, 41 companies have gone through the AccelerateBaltimore program and successfully launched their products, collectively raising an additional $16M in follow-up funding. Graduates include FactoryFour, Founder's Approach, Brinkbit, Allovue, Arbit, MyBestBox and Barttron.

About ETC

The ETC, a venture of the Baltimore Development Corporation (BDC), 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, IncubateBaltimore, a seed accelerator program, AccelerateBaltimore, a coworking space open to innovative individuals and teams, BeehiveBaltimore and now their newest pre-accelerator program, PioneerBaltimore. 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 500 companies, 85% of which are still in business, creating more than 4,000 jobs and raising more than $2.4 Billion in outside funding. To learn more, visit www.etcbaltimore.com.

CONTACT:
Amanda Gosling
Agosling@etcbaltimore.com

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SOURCE ETC (Emerging Technology Center)