Entrepreneurship : Innovation + Job News

Gov. Martin O'Malley and Lt. Gov. Anthony Brown recenly launched "MBE University," an initiative to support Maryland's minority- and women-owned businesses and to highlight the state's MBE program. MBE University will serve as a traveling conference throughout Maryland to offer training, opportunities, and information on the tools necessary for minority or woman-owned businesses to expand, create jobs, and thrive even in difficult economic times.

"Maryland is home to a rich and diverse community of 250,000 minority and women-owned enterprises that employ hundreds of thousands of Marylanders and serve as the economic engine that will drive Maryland's recovery," says Gov. O'Malley. "MBE University will provide access to information, jobs and job creation opportunities, and vital resources that will allow them to remain competitive and prosperous, especially during these tough economic times."

"By opening new doors for Maryland's innovative and dedicated small and minority-owned businesses, we are strengthening our workforce and making an important investment in our future. Governor O'Malley and I are committed to expanding opportunity to more Marylanders," says Lt. Gov. Brown. "Initiatives like MBE University will ensure that our great State remains well-positioned to not only weather this economic recession, but also thrive for years to come."

Maryland is home to the oldest MBE program in the nation, and it has established the highest minority- and women-owned business contracting goals in the nation at 25 percent. In addition, Maryland is one of only 15 states in the nation with MBE goals and one of only 4 states with an MBE law in statute. Maryland remains the only state in the nation to collect uniform reporting data including actual payments to MBEs.

In Fiscal Year 2009, Maryland state agencies achieved 22 percent MBE participation, the highest in recorded history, up from 20 percent in the previous year. These include over $1.6 billion in awards to MBE firms, an increase of 23 percent in one year and more than double the amount of MBE contracts awarded four years ago.

"MBE University" was created in collaboration with the state's minority business coordinating agencies and the Governor's Office. Coordinating agencies include the Department of Business and Economic Development, the Governor's Office of Minority Affairs, the Department of General Services, and the Governor's Grants Office. Today's conference is the first in a series that will be offered around the State continuing into next year.

For more information on the MBE University Initiative, contact the Governor's Office at 410-767-8232 or visit www.mdminoritybusiness.com.

Source: Department of Business and Economic Development
Writer: Walaika Haskins

Gov. Martin O'Malley unveiled an economic agenda at Maryland's first Small Business Summit. The plan focuses on providing small businesses with access to credit, job creation and the unemployment trust fund, initiatives that the Administration plans to champion in the upcoming General Assembly session. The Governor, who co-hosted the Summit with Greater Baltimore Committee President and CEO Donald C. Fry, called on Maryland's business community to join in fighting for these proposals.

"Small and family-owned businesses are the heart and soul of our State and the key to how we're going to turn the corner from recession to recovery to prosperity," says Gov. O'Malley. "Representing nearly 98 percent of the State's employers, strengthening our small business community will help us grow and strengthen our middle class, fuel innovation, and create jobs in Maryland."

"Most economic growth in our state will be generated from within, so this commitment to small business by Governor O'Malley is very welcomed," says GBC President and CEO Donald C. Fry. "Small business is big business in Maryland and we must continue to support our small businesses and develop innovative solutions to help them grow."

The governor outlined three key initiatives as part of a broader economic agenda to help strengthen small business in Maryland and create jobs.

The first component would streamline the loan approval process for small businesses and expand access to credit by creating the Maryland Small Business Credit Recovery Program, offering a loan guaranty on small business deals through the Maryland Department of Business and Economic Development's current loan guaranty program - the Maryland Industrial Development Financing Authority Program (MIDFA).

Approved banks will be able to apply for up to a $50,000 MIDFA guaranty and a Rapid Response Program will be developed that will offer a 48-hour approval turnaround on loans needed up to a $250,000 guaranty. The initiative could leverage up to $64 million in new private sector lending for small businesses.

The second part would create jobs by establishing a Job Creation and Recovery Tax Credit, which would award businesses a $3,000 tax credit for every unemployed worker it hires. The initiative, which is proposed for one year with a $20 million cap, would boost job creation and take the pressure off the State's Unemployment Trust Fund.

The final component would introduce emergency legislation to address the rate increase for small businesses to the Unemployment Trust Fund.

Source: Maryland Department of Business and Economic Development
Writer: Walaika Haskins

In an effort to help build up small businesses in Maryland, Gov. Martin O'Malley outlined a 10-point plan to strengthen small bus. Building off the progress of his newly formed Small Business Task Force, the plan calls for the creation of the Commission for Small Business and extending the Small Business Reserve program for six more years.

The 10 Point Strategy includes:

1. Creating Maryland's first ever Commission for Small Business, built upon the positive momentum of the Small Business Task Force created in July, giving the small business community a permanent sear at the table.

2. Expanding assistance to Maryland businesses through the Health Insurance Partnership, fulfilling our capacity to serve 1,500 businesses and 10,000 Marylanders with access to quality, affordable health insurance through employment at a Maryland small business.

3. Creating one, uniform loan application for any small business applying for state financing and streamline the state's permitting requirements to further reduce the red tape for Maryland small businesses.

4. Matching President Obama's commitment to waive borrowing fees for SBA loans on the state level, including fees for the Maryland Small Business Development Financing Authority, which has financed 26 businesses since July of 2007, providing nearly $5 million in assistance and helping these businesses create and retain 400 jobs.

5. Working with the Maryland Congressional delegation to secure greater capital from the federal government for our small businesses.

6. Expanding the state's efforts to advance Minority Business Enterprise, further enhancing the unprecedented efforts of the O'Malley-Brown Administration, which has set the highest MBE goal for state agencies in the nation, achieving 22% MBE participation across state government in FY09 and awarding $346 million to African American firms � a 30% increase from the previous year.

7. Setting aside a percentage of certain state contracts for small business through the Small Business Reserve Program, extending the program six more years, allowing Maryland small businesses to navigate the bidding process without being overwhelmed by the bidding power of large corporations.

8. Working with the federal government, through the Maryland Federal Facilities Task Force, to open up federal procurement and contracting opportunities for more Maryland businesses.

9. Working with the business community to find ways to do an even better job providing skills training and promoting career readiness in our schools, particularly as it relates to things like Career and Technology Education (CTE) and Science, Technology, Engineering, and Math (STEM) education.

10. Working with the business community to find a sustainable solution to the unemployment insurance challenges facing Maryland small businesses.

Source: Maryland Department of Business and Economic Development
Writer: Walaika Haskins

The Los Angeles Museum of the Holocaust has selected Fastspot, an interactive agency based in Baltimore, to design and produce the Museum's new Website. Fastspot was chosen following a national search of leading interactive agencies as part of the Museum's re-invention of itself. In addition to renovating its Website, the Museum is constructing a new building to house its permanent exhibits and rich archives.

Two Baltimore area businesses have made to the semi-finals of Forbes Magazine's "Boost Your Business"contest. Encore Path, a developer of neural regenerative stroke rehabilitation devices for stroke survivors, and GiftCardRescue.com, a gift card exchange site, are among the 20 semi-finalists competing for a $50,000 cash prize and another $50,000 in advertising on the Forbes.com site.

The contest relies on the public to vote for the companies "with the most promising growth prospects, if they were given a bit of nourishing investment capital." Participants may vote for up to five companies.

Encore Path is currently in second place. Voting closes on September 30, 2009.

Source: Forbes Magazine
Writer: Walaika Haskins

Gov. Martin O'Malley  has relaunched the once defunct Maryland Economic Development Commission (MEDC). The official swearing in of commission members occurred in August and reopens the MEDC at a time when private economic investment is vitally needed.

The MEDC, first created in 1995 has been inactive since 2006. It's25 member panel will help shape Maryland's business policy, regulation and legislation. As part of its mission, the Commission also will develop a 10-year strategic plan for the state's economy, solicit input from businesses from each region of the state and provide recommendations to the Gov. on issues that currently or could potentially impact Maryland's businesses.

"The Maryland Economic Development Commission will play a vital role in charting a course for Maryland's economic future," says Governor O'Malley. "We are fortunate to have brought together some of Maryland's greatest visionaries in science, education and business from every region of the State to undertake this important mission and I look forward to learning their recommendations for how we can best support Maryland's business community."

Commission members serve staggered three-year terms. Chairing the Commission will be Dr. Elias Zerhouni, who is currently Senior Advisor for Johns Hopkins Medicine and Senior Fellow at the Bill and Melinda Gates Foundation. From 2002 to 2008, Dr. Zerhouni was the Director of the National Institutes of Health, where he successfully led a series of reforms that were adopted by Congress in the NIH Reform Act of 2006.

"It's an honor for me to lead this Commission of my fellow Marylanders dedicated to strengthening Maryland's economy," said Dr. Zerhouni. "I look forward to working with Governor O'Malley and my Commission members to develop a long-range strategic plan to build on Maryland's unparalleled assets."

Writer: Walaika Haskins
Source: Dr. Elias Zerhouni, MEDC

Avatech Solutions,a design and engineering technologies company, rolled out the latest service for its clients -- the Avatech Client Portal.

Designed as a destination for Avatech's client base, the Client Portal (CP) will provide 24/7 instant access to information and services of special interest to Avatech clients.

Initially CP will only be available to clients who have an Autodesk Subscriptions through Avatech or to our technical support clients. Subscription clients have access to free Avatech productivity software downloads. The Portal could enable Avatech customers to receive thousands of dollars worth of free software that automates tedious manual tasks and dramatically reduces design time. The CP will also streamline technical support. Clients will be able to quickly and easily submit support questions and technical problems, as well as view and search all past issues and resolutions.

Avatech is already making plans to expand the portal that may include additional free software downloads, access to a support knowledge base, on-demand learning, product tips, links, special offers and promotions, RSS, and communities. The company says it will actively solicit user feedback to expand and populate the portal with information and services that its clients want.

"We are constantly pushing ourselves to provide the maximum value to our clients. It's not enough for us to provide initial services to customers; we strive to partner with clients not only as their businesses grow, but during tough times as well. We're in it for the long haul and we want our clients to know that," says George Davis, president and CEO of Avatech. "The Client Portal is just the latest salvo in this continuing effort."

Writer: Walaika Haskins
Source: George Davis, Avatech

The Multinational Development of Women in Technology (MDWIT) organization will soon be able to better help women around the world enter and progress in the technology workforce thanks to a new IT infrastructure funded by a $30,000 donatoin from Lockheed Martin.

MDWIT promotes the advancement of women in technology through the development and dissemination of best practices, programs, research and policy. The new Lockheed Martin-funded system will provide a forum for this information, enabling all women in IT to gain broad visibility, specifically enriching access to and development of innovations, knowledge and research across the industry. The new system will consolidate existing systems under a framework that is easier to use, more collaborative and more interactive than the previous system.

"A technological infrastructure that supports not only communication but also collaboration is critical to furthering our mission," said Claudia Morrell, CEO of MDWIT. "Thanks to the support of Lockheed Martin, we will soon be able to leverage the collective intelligence of women all over the globe to foster a more diverse, productive and innovative workforce."

The new infrastructure will support MIDWIT's regional, national and international initiatives. The application will allow the organization to establish a repository of global knowledge to manage and share information. The system also will provide personalized content and social media tools to facilitate two-way communication between MDWIT's constituents, sponsors, members and partners.

The Baltimore-based organization will introduce the new system later this year.

Writer: Walaika Haskins
Source: Claudia Morrell, MDWIT

The University of Maryland College Park has teamed with the State to create a new international incubator, part of Gov. Martin O'Malley's new Maryland Growth Strategy. It is the state's first incubator intended solely for foreign-owned businesses and will provide competitively priced leasing space to foreign companies.

The first tenant and anchor for the new incubator is the University of Maryland-China Research Park (UMCRP). Created in collaboration with the China Ministry of Science and Technology, the research park offers help to private Chinese businesses looking to set up shop in Maryland and bring jobs to the state.

The UMCRP will encourage collaboration in areas including, health care, environment, agriculture, energy and fire protection. It will provide hands-on business consulting, funding introductions, investment opportunities and networking with potential customers and partners. It will also offer direct access to the University's world-class faculty, research facilities, students, training and other business resources.

Chinese companies that are relocating to the U.S., creating a U.S. subsidiary or investing in or acquiring a U.S. company are eligible to apply for office space in the Research Park.

Set to launch later this year, the new incubator will be located near the College Park campus.

Writer: Walaika Haskins

Source: University of Maryland College Park

bwtech@UMBC Research Park has expanded its facilities, launching a new incubator in Class A office space that targets small disadvantaged businesses. The new incubator is designed for early-stage companies owned by minorities, women and veterans and have substantial business activities aimed at providing technology-related products and services to state and federal agencies.

Founding tenants include Premier Management Corporation, a network security consultant for NSA and other government agencies; Farfield Systems, a provider of IT and systems engineering services and training; CardioMed Device Consultants, a regulatory consultant for medical device companies; and the Nixon Group, a multi-faceted company in healthcare and financial services

Since its opening several additional companies have expressed interest in the new incubator, says Deborah Shapiro, a bwtech@UMBC spokesperson.

"Businesses that contract with the federal government are still experiencing growth, despite weakening in the overall market," says Alex Euler, associate director, bwtech@UMBC. "The Advantage Incubator's proximity to a number of federal agencies and research centers such as NSA, NIH, FDA, NASA and DOD is a great asset. Client companies also benefit from the park's federal HUBZone and state Enterprise Zone designations."

The incubator offers participating companies the opportunity to operate in a Class A environment, with shared reception areas, conference rooms and university resources.

Two Baltimore area companies earned rankings on Inc. magazine's 28^th Annual List of America's Fastest-Growing Private Companies. Annapolis, MD-based High Street Partners, an international consulting firm providing finance, accounting, compliance and human resource assistance to U.S. companies overseas took the No. 78 spot on the list. This marks the company's second year on the list. In 2008, High Street was ranked 84^th.

"We're honored to be ranked at number 78 this year and look forward to continuing our efforts in the market," says Larry Harding, CEO and president. "As increasing numbers of small and medium sized businesses expand overseas, High Street Partners will be there to guide them through the challenges and help them achieve success."

Coming in at No. 224, Carchex, a Baltimore-based nationwide vehicle inspection company, saw sales increase more than 930 percent to $9 million between 2005 and 2008.

"Inc. 500 is one of the most anticipated announcements every year. It's a who's who of skyrocketing companies and entrepreneurs. Being included with the Inc. 500 is an honor and further validation that CARCHEX is leading the way in our industry," says Jason Goldsmith, Carchex CEO.

Writer: Walaika Haskins

Source: Larry Harding, High Street Partners; Jason Goldsmith, Carchex

It took a year, but Charm City Concierge, a Baltimore-based corporate concierge service, launched its new virtual concierge website. The Concierge Dashboard software application is a nationwide first in the concierge industry.

The membership-only website enables clients to create a personalized desktop that acts as a virtual community available at the touch of a button. The site offers Charm City Concierge clients 24/7 access to shop online for products and services. The website's unique interface provides one-stop shopping for anything a client might need.

Forget scouring the Web for hours looking for just the right item or present, clients instead are able to chose from a variety of products and gifts meticulously chosen by Charm City staffers who have already done the virtual leg work.

In addition, the customizable desktop features news, weather, traffic and can also link to individual Facebook and Twitter pages.

"As our company has evolved, the need for this virtual concierge website became inevitable. It fills the needs of our clients on all levels nd allows us another step up on our competitors. Having our new technology in place leaves us poised for growth as the economy bounces back," says Tina Urquhart, president, Charm City Concierge.

Writer: Walaika Haskins
Source: Tina Urquhart, Charm City Concierge

RIP Les Paul, inventor of the solid body electric guitar, but a University of Maryland professor thinks he has the goods to be this century's guitar guru.

Bruce Jacob, a professor of electrical and computer engineering at University of Maryland, College Park, says that the new technology used in his so-called coil guitars enables the instruments to produce more sounds than any other guitar currently on store shelves.

Using his background in electrical and computer engineering to develop the guitar, Jacob launched Coil, LLC in 2006. With a list of the sounds he wanted to the guitars to produce, Jacob with the help of five of his students was able to create Coil guitars that according to the company feature an innovative circuitry unlike anything else available.

The guitars are available on the Coil Web site (www.coil-guitars.com) , starting at $999.

The University of Maryland wants to give young entrepreneurs a head start in business.

The school's Dingman Center for Entrepreneurship at the Robert H. Smith School of Business has offer 40 students from various schools and colleges in the UMD system the chance to participate in a 10-day business jumpstart program. From Aug. 17 to 28, the students will participate in interactive sessions and workshops led by successful local entrepreneurs, investors and lawyers

The goal is to help give students the necessary tools to develop a business idea, make sure it is viable, possibly perform a test in the market and then launch the new business, says Alla Corey, a program manager at Dingman Center.

The program is intended to help students prepare for the Cupid's Cup business competition that kicks-off in April. The business challenge requires entrants to have an existing revenue-generating business. Kevin Plank, Under Armour CEO, sponsors and judges the contest.


Writer: Walaika Haskins
Source: Alla Corey, Dingman Center

Kalypso Media Group, a German-based game publisher continues its global expansion, choosing Baltimore as the site of its U.S. headquarters, beating out Los Angeles, New York and Silicon Valley. The deciding factor was the high concentration of video game companies in the area, including Firaxis Games, BreakAway and Big Huge Games. The Baltimore office boasts a minimal staff of about five.

With its new digs located in Roland Park, the company named Deborah Tillett president. Former president of BreakAway Games, Tillett is responsible for developing and implementing Kalypso's strategic and creative vision in North America. Kalypso is perhaps known best for its "Tropico" series now on its third installment.

The company is seeking game developers who have created PC or mobile phone games in any genre of entertainment software. The company is particularly interested in strategy, adventure, action and simulation games. Kalypso offers developers marketing on a global scale in retail stores and via online platform. Interested game designers should contact the company at [email protected].

In other gaming news, Zynga, a San Francisco developer of games for social networking sites including Facebook and MySpace, plans to hire 12 to 15 game designers, web developers, artists and producers by the end of the year. The company has chosen Baltimore as the location for its new East Coast office. Helmed by Brian Reynolds, a former exec with Firaxis Games and Big Hug Games, anticipates that the office will locate in Timonium.

Writer: Walaika Haskins
Source: Kalypso Media Group