Mtech Press Releases

FOR IMMEDIATE RELEASE
July 24, 2003

International Business Incubation Conference Coming to Maryland

COLLEGE PARK, Md.—The 19th International Conference on Business Incubation is coming to Baltimore in 2005, reflecting increasing national recognition for Maryland's successful business incubators.

"Maryland has done more for improving incubator programs and best practices than any other state in the U.S.," said Dinah Adkins, president and CEO of the National Business Incubation Association (NBIA), which facilitates the conference each year.

The five-day event, which includes two days of pre-conference activities, attracts an average of 600 visitors annually, from as many as 45 countries. Guests will fill an estimated 1,800 hotel rooms and generate $472,000 in direct spending in the region, according to Amra Elmore, sales manager for the Baltimore Area Convention and Visitors Association.

Maryland's 12 business incubators currently host 107 technology-driven companies. According to a 2001 study by the Regional Economic Studies Institute (RESI)—based upon the six existing incubators at the time—incubator companies generate between $240,000 and $400,000 in annual revenues and create between 2,200 and 6,800 jobs. Graduate incubator firms, according to the same study, generate between $4 and $7.5 million in revenue each year.

"The Maryland incubator system is an outstanding way to support and encourage the technology companies of tomorrow," said Aris Melissaratos, Secretary of Business and Economic Development. "By providing a nurturing environment at the early stages of a company's growth and development, we are ensuring that Maryland continues to be on the cutting edge and remain competitive in the global market."

Two of Maryland's emerging biotechnology companies, Martek Biosciences and Digene Corporation, are graduates from the University of Maryland's Technology Advancement Program (TAP), the State's first incubator, which was created in 1984. Those two companies alone have a combined market capitalization of $1.5 billion.

"Our goal as incubator managers is to do everything within our means to help companies succeed," said Edward Sybert, director of TAP and president of the Maryland Business Incubation Association (MBIA), a private, professional organization of incubator managers serving as a united voice for the advancement of business incubation in Maryland. "This conference is an opportunity for us to network and explore new ways to do what we do—help entrepreneurs succeed—in more effective manners."

Although the 2005 conference agenda is still open, it will likely include tours of Maryland's incubators in Baltimore and Baltimore County, and maybe Annapolis, according to Sybert. The MBIA is also encouraging its members to chair sessions and give talks.

NBIA's International Conference on Business Incubation is considered by many to be the world's largest gathering of business incubation professionals, featuring more than 60 lecture and roundtable sessions, several keynote speakers, and the opportunity for attendees to network with presenters and other participants.

Sybert lobbied the NBIA to bring the international conference to Baltimore.

More than 950 business incubation programs operate in North America, up from just 12 in 1980. In 2001 alone, North American incubators assisted more than 35,000 start-up companies, which provided full-time employment for nearly 82,000 workers and generated annual earnings of more than $7 billion.

Services offered by incubators typically include flexible leasing, access to office and laboratory space, and business, legal and technical mentoring.

The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. Since 1985, NBIA has offered its members research, publications, training opportunities, and consulting.

TAP is a program of the A. James Clark School of Engineering's Maryland Technology Enterprise Institute (MTECH), whose mission is to enable technology commercialization, strengthen companies, and catalyze new ventures in Maryland.

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