“A recent report by the Sage Policy Group and the Nearing Group affirms the positive economic impact of UMBC’sACTiVATE® program. The report concludes that ACTiVATE® creates jobs at a “remarkably low cost” when compared to benchmarks for entrepreneurial job creation and generates substantial income for local governments and the State of Maryland.”
This was the opening line of a recent press release from the University of Maryland Baltimore County (UMBC) touting the successes of their ACTiVATE® program. ACTiVATE® is an incredible innovative, yet simple program that works because of its pragmatism and because of the people involved. Over 100 women with business and technical backgrounds have gone through the program and have started 30 companies as a result. The Sage Policy Group study estimates that these 30 companies will create 234 direct and spin-off jobs by the end of 2011.
Ellen Hemmerly, Walt Shultz, David Fink, Steven Auvil and the leadership team of UMBC’s Incubator and Accelerator (branded as bwtech@UMBC) have done a great job in finding passionate business people and encouraging their entrepreneurial spirit, locating technologies that were able to be polished and taken to market and then offering the right mix of support to make ACTiVATE® such a smash success.
Let’s see – passion, entrepreneurship, sound technology, a market awareness and support when needed. Sounds like a formula for success any business would be smart to employ!
Full study available here:
Leadership team of UMBC: