6 Reasons to Start your Startup in Baltimore
Baltimore is a growing hotspot for the arts, education, and tech startups. The ETC alone works with over 100 companies and there are many coworking spaces and incubators in the city. But why Baltimore? And what exactly makes Baltimore so great for startups? Here is a list of what people are saying about our city.
1) Baltimore is ranked 13th of Forbes’ 20 Happiest Cities to Work in Right Now (Jan 2016). The average salary in Baltimore is $66,539.
2) According to Business Insider, Baltimore is ranked second of 9 hot startup cities (that aren’t San Francisco or New York) (June 2016). Particularly, Baltimore has become very attractive for ed-tech startups because of big names like Johns Hopkins and Laureate Education (formerly Sylvan Learning). Baltimore educators have also proven to be entrepreneur-friendly and willing to test out new education-technology.
3) The Baltimore startup scene is a tight-knit community. Technical.ly (Apr 2014) reports that it is evident when you visit innovation hubs like ETC that the startups are close. This allows for open collaboration between entrepreneurs and their businesses.
5) Local universities – Johns Hopkins, University of Maryland, and Towson University (Apr 2014) – have created programs that supplement entrepreneurship growth. This cultivates a steady supply of young business talent that supplements growing startups. Baltimore also has at least 25 universities, which means access to new talent.
6) This year, Baltimore was one of 16 cities that were selected for the Village Capital Startup Initiative (March 2016). “We didn’t choose the communities we thought needed the most help, but the ones we thought were the best for entrepreneurs,” said Jared Marquette, who manages the VilCap Communities program.
When Steve Case, investor and co-founder of AOL Inc., visited Baltimore in 2015, he saw the potential of Baltimore as a startup hub. After his tour of Baltimore, Case said, “If everybody keeps working together to create more of that sense of possibility, more of that network effect, I think it will attract more talent. I think it will attract more attention. I think it will attract more capital. Baltimore can and should continue to rise as one of America’s great startup regions.”
What’s the best thing about being a Baltimore startup? Tweet us at @ETCBaltimore and we’ll add your comment to this post!