MARYLAND
Maryland’s close proximity to the nation’s capital, 50 federal agencies, 60 universities, and several Fortune 500 corporations make the state a national leader in science, technology, engineering, and mathematics (STEM) related industries. Consequently, the state has been successful in creating jobs in advanced technology, defense systems, and health sciences. To foster and facilitate this momentum the state has implemented several entrepreneur and STEM-related educational programs to galvanize new and emerging ideas and opportunities and make them into job and wealth creating realities.
Dingman Center for Entrepreneurship Founded in 1986, the Dingman Center for Entrepreneurship is a top-tier entrepreneurial institute recognized around the world as a leader in enterprise creation. As one of the earliest entrepreneurship centers in the country, the Dingman Center has dedicated itself to facilitating, supporting, and encouraging entrepreneurial growth in the Mid-Atlantic region.
Entrepreneurship and Innovation
The Center’s Capital Access Program was
The Maryland Technology Enterprise Institute (Mtech) focuses on three primary initiatives including educating the next generation of technology entrepreneurs, creating successful technology ventures, and connecting companies with university resources to help them succeed. Mtech offers programs, courses, workshops and competitions to help aspiring entrepreneurs learn how to bring their ideas and products to the world. Among Mtech’s core programs, there has been a $19.6 billion impact on the Maryland economy since 1983.
real student and non-student companies
Exports Maryland’s exports climbed to a record high in 2008, but slowed slightly in 2009 to roughly $9.2 billion. In an effort to help Maryland’s small businesses increase their exports, create jobs, and take advantage of trade opportunities in the global marketplace, the state announced the launch of the Maryland Export Initiative. Created to complement the National Export Initiative, Maryland’s Export Initiative will focus on providing export assistance to small businesses, creating jobs and leveraging part of the Export Initiative, the state will fully fund in FY 2011 Export MD grants, a program within the Department of Business and Economic Development (DBED) that awards grants to small and mid-sized companies to assist them with doing business overseas. Since July 1, 2009, Maryland has attracted 20 foreignowned companies. This is twice the number of foreign
of entrepreneurship.
Workforce Development and Training The STEM and Competitiveness Initiative is one of three high-priority initiatives launched by the University System of Maryland (USM) to address major challenges to Maryland’s educational preparedness, economic leadership, and environment. The STEM and Competitiveness Initiative centers on developing strategies that strengthen STEM (Science, Technology, Engineering, and Math) education at the K-12 level, prepare a highly skilled workforce for STEM-based jobs, and promote the innovation and entrepreneurship necessary to position Maryland for leadership in today’s global knowledge economy. The STEM and Competitiveness Initiative will focus USM resources on improving those factors by increasing the number of STEM teachers graduating from USM institutions and pursuing teaching careers in the state; preparing more of today’s students for the STEM career opportunities of the future and improving K-12 STEM education; and utilizing the resources of higher education to foster innovation, entrepreneurship, and business development in STEM areas such as the life sciences, sustainable technology, and information technology.
half of the foreign-owned companies have located in the Maryland International Incubator. 47