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MD Clean Energy Ctr Launches New Incubator Network

There's a new incubator network in town. The Maryland Clean Energy Technology Incubator Network will offer support to early stage companies working with clean energy technologies and advance green job creation in Maryland.

The production of a partnership between Maryland Clean Energy Center and the bwtech@UMBC the new site, the Maryland Clean Energy Technology Incubator@bwtech (CETI), is the first in a planned statewide network of clean energy incubators designed to strengthen Maryland's "Smart, Green and Growing" energy economy.

"bwtech@UMBC is our first site because we were so impressed with their management and track record there," says Katherine Magruder, executive director of Maryland Clean Energy Center.

""The Maryland Clean Energy Center is striving to partner with energy experts throughout the state in order to fulfill its mission of growing Maryland's clean energy economy through related economic development and job creation. Because bwtech@UMBC has a proven track record of success our Board elected to work with their team to establish our first Clean Energy Incubator Network site at UMB," she adds.

The goal is to draw from the depth and variety of the research presence in the state, and use the incubator network to move discoveries from the bench to the bank in the commercialization pipeline, according to Magruder.

"The program seeks to provide affordable space as well as assistance with business plans, marketing, and management of intellectual property for start-up companies that are focused on a clean or renewable energy product, service or technology," she says.

CETI will provide services specifically tailored to the needs of companies working with solar power, wind power, geothermal, hydro-power, biofuels as well as energy management and storage technologies. A part-time Entrepreneur-in-Residence and an advisory board of experienced researchers and executives in the clean energy sector will also provide tenant companies with assistance.

CETI will occupy about 18,000 square feet of office and wet lab space in the Biotechnology Building of bwtech@UMBC's Incubator and Accelerator, located on the south campus of the University of Maryland, Baltimore County (UMBC).

Writer: Walaika Hasins
Source: Katherine Magruder, Maryland Clean Energy Center

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