Technology News

Baltimore Debuts Emerging Technology Center Accelerator

Tuesday, December 20, 2011 5:02:00 AM PDT | VentureDeal Staff

Baltimore, Maryland  --  The city of Baltimore has announced the launch of a new technology accelerator program.

The Emerging Technology Centers has created "Accelerate Baltimore" (website not working)  with $110,000 in seed funding and additional financial support from The Abell Foundation.

The new accelerator will be modeled after successful programs such as Betaworks and Y Combinator.

One of the requirements of the program will be that participating companies must remain in Baltimore for at least five years.

In return to receiving benefits, companies will provide the program sponsors with an 8% in equity in the company and a royalty of 2.5%, capped at $150,000.

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