Emerging Technology Centers (ETC) is slate to hold its Accelerate Baltimore program for the sixth consecutive year following a $250,000 donation from the Abell Foundation.
Based on the model of last year’s program, each of this year’s Accelerate Baltimore winners will be awarded $25,000 in seed stage funding, but one company will be awarded an additional $100,000 in follow on funding at the end of the program.
“ETC is aware of the significant impact on the economy of Baltimore that startup companies can have and is committed to providing the best services, most impactful programs, the critical collaboration and ultimately the access to capital that is needed for success,” said ETC President Deborah Tillett. “We have seen the importance of Accelerate Baltimore and its seed stage funding to the success of startups in the city”.
Accelerate Baltimore aims to close the gap between innovative ideas and the ability to get to market quickly. In addition to the seed funding, the winning 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.
“Baltimore is becoming noticed nationally for its ability to attract talent and capital and the ETC’s Accelerate Baltimore is one of the premier programs fueling that growth,” said Robert C. Embry, Jr., president of the Abell Foundation. On top of the $800,000 awarded from the Abell Foundation to Accelerate Baltimore companies to date, program graduates have raised an additional $11.9 million in funding.
To date, 28 companies have gone through the Accelerate Baltimore program and successfully launched their products, ETC said. The program ends with Demo Day, attended by angel investors, venture capitalists and media. Last year, judges awarded the additional $100,000 to MyBestBox, a consumer products and data analytics platform, which helps people maintain healthier lifestyles in a convenient and affordable way. Other Accelerate Baltimore graduates include Fusiform, Loople, Brinkbit, Allovue, Survey Snap, and NewsUp.
Applications will be available online starting October 12th and will close on December 1, 2016.