May 13, 2010 Press Release
BALTIMORE, MD--- Baltimore City’s technology incubator, the Emerging Technology Centers (ETC), announced today the award of eight business assistance and training grants to six different client companies. These grants were made possible by an additional $14,000 that Maryland Technology Development Corporation (TEDCO) provides to incubators in Maryland.
Grant proposals were solicited from among all 65 ETC companies. Those chosen were Strategic Results, WindCurrent, Management CV, Encore Path, Hospitality Technology Group and MP3Car. The primary purpose of these grants is to provide funding to incubator companies for either the retention of consultants for the purpose of producing a measurable deliverable or outcome that will accelerate development.
“Maryland’s technology incubators offer services and resources simply not found anywhere else.” said Jeff Burnett Director of Sales of Management CV. “The ETC grant is a great example of what start-ups need to be successful.”
Each year Maryland's technology incubators receive business assistance grants from TEDCO as part of their commitment to be the State’s leading source of funding for entrepreneurial business assistance. This year ETC reserved a portion of the TEDCO funding for training and development classes and/or workshops.
“Attracting and retaining key employees is critical to the success of my business,” said Anne Dunne, founder and President of Strategic Results. “Our two ETC training grants help me to demonstrate my commitment to my employees while enhancing their skills.”
“TEDCO has an array of funding programs for early stage companies unmatched in the U.S.,” said ETC President, Ann Lansinger. “Their continued support helps to further the development and demonstrate the performance of many exciting new technologies.”
About ETC (www.etcbaltimore.com)
The ETC, a venture of the Baltimore Development Corporation, is a non-profit business incubator focused on growing early-stage technology and biotechnology companies. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow and prosper – adding to both the job and tax base of Baltimore City. To date, ETC client companies have received over $819 million in funding and have been issued over 200 patents. Since 1999 ETC has provided assistance to 165 companies 77% of its graduate clients are still in business.
The Maryland Technology Development Corporation (TEDCO), an independent entity, was established by the Maryland General Assembly in 1998 to facilitate the creation of businesses and foster their growth in all regions of the State. TEDCO's role is to be Maryland's leading source of funding for seed capital and entrepreneurial business assistance for the development, transfer and commercialization of technology. TEDCO connects emerging technology companies with federal laboratories, research universities, business incubators and specialized technical assistance. For the fifth consecutive year, TEDCO was recognized as the most active seed/early-stage investor in the nation in the August 2008 issue of Entrepreneur magazine and received the national Excellence in Technology-Based Economic Development award from the State Science and Technology Institute (SSTI) for the Maryland Technology Transfer and Commercialization Fund (MTTCF) program in October 2008. For more information on TEDCO and its programs and resources, visit www.MarylandTEDCO.org.
