Baltimore City to Launch Technology Accelerator Program

Baltimore, Maryland – The city of Baltimore, known for its active support on technology firms and incubator programs has launched another incubator program to support start-ups called “Accelerate Baltimore” which is intended to guide and propel with the latest trends by launching its own accelerator program.

The newly launched tech accelerator program is backed by a $110,000 of seed funding and financial supports from The Abell Foundation. The city’s Emerging Technology Centers (ETC) manages and operates the incubator programs and p-lans to create an environment similar to the successful incubator programs like Y Combinator and BetaWorks.

The program will start with 5 startups in Baltimore and provide them with a 3 month boot camp program with expert mentors and also provide them with rent free offices at the ETC in Canton during the program. As part of the requirements for the program, the startup must remain at Baltimore for at least 5 years.

According to Ann Lansinger, the president of the ETC, the new accelerator would fill a gap for early-stage entrepreneurs.

“How do we really flesh out the full ecosystem for Baltimore?” said Lansinger. “There are gaps in pre- and post-incubation. We’ve been looking at how to fill that out.

Part of the deal with the startup is ETC and Abell will take an 8 percent equity stake in each company and a 2.5 percent royalty, capped at $150,000.

To know more about the program, you can visit Accelerate Baltimore’s website:

http://acceleratebaltimore.r2ismash.com/