Baltimore Emerging Technology Center Ranked 7th in UBI’S World Incubator Summit Awards for World of Top Business Incubator – Collaborating with University
March 14, 2018 --
BALTIMORE, Md., March 14, 2018 (GLOBE NEWSWIRE) -- ETC (The Emerging Technology Centers), Baltimore City’s technology and innovation center and award-winning entrepreneur support organization, was ranked seventh, globally, in UBI’S World Incubator Summit Awards for World of Top Business Incubator – Collaborating with University.
“We are honored to be recognized by an organization as widely-respected as UBI Global,” said Deb Tillett, president and executive director of ETC. “The ETC prides itself on being a resource and connector in the Baltimore innovation ecosystem and collaborates with many universities such as University of Baltimore, Johns Hopkins University, MICA and University of Maryland.”
UBI Global is a Stockholm-based research and advisory firm known for its regional and global studies that map and evaluate the world of business incubation. For its 2017/2018 study, UBI assessed a total of 1,370 programs and selected 259 as eligible to participate for this survey located in 53 countries. A top university-linked incubation program, as defined by UBI Global, is a business incubator or accelerator connected to an institution of higher education that achieves outstanding impact and performance relative to its global peers.
“The ETC operates with an unwavering commitment to building – and sustaining – an environment that is welcoming, fosters collaboration and accelerates innovation,” added Tillett. “This distinction is a clear reflection of our steadfastness to this mantra and validates our unwavering commitment to inclusion and equality.”
Of the more than 450 companies the ETC has assisted, 83 percent are still in business. In addition, ETC companies have raised $2.4 billion in outside funding.
“Baltimore is fully committed to its digital transformation and to making critical investments in strategic initiatives that will provide guidance and resources to entrepreneurs. Our efforts to-date have fueled our ascension in the rankings of globally-recognized hubs for innovation,” said Mayor Catherine E. Pugh. “My administration and the ETC will continue to support our entrepreneurs in growing and thriving in Baltimore as they continue to create jobs and opportunities for our residents.”
From 2013 to 2016, Baltimore City saw the number of tech jobs grow by 36 percent which, according to the Census Bureau, is the second-highest percent increase in tech jobs nationwide, during that period. 98 percent of companies that graduate the ETC remain in-state, with 75 percent staying in Baltimore. In a 14-month period, current and graduate ETC companies had a $1.4 billion economic impact on the state of Maryland.
“I commend the ETC on its ongoing success in providing entrepreneurial support to tech startup community and this global recognition,” said William H. Cole, president and CEO of the Baltimore Development Corporation (BDC). “The BDC will continue to work with ETC to retain as many of its current and graduate companies in the City as these companies play a critical role in Baltimore’s vibrant startup community and economic growth.”
About ETC (www.etcbaltimore.com)
The ETC, a venture of the Baltimore Development Corporation, 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, Incubate Baltimore; a seed accelerator program, Accelerate Baltimore; a coworking space open to innovative individuals and teams, Beehive Baltimore; and a 9-week idea bootcamp powered by COSTARTERS, Pioneer Baltimore. 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 450 companies, 85% of which are still in business, creating more than 2,500 jobs and raising more than $2.4 billion in outside funding.