The new VentureAccelerator Program (VA), an innovative initiative to commercialize technology developed at the University of Maryland through new venture creation, accepted its first two companies. Applied Media Analysis develops software to enable machine-vision on low-powered portable devices. Affiliate Classroom provides interactive content and web services to online affiliate marketers.

The Clark School's award-winning Hinman Campus Entrepreneurship Opportunities (CEOs) Program is an invaluable asset—not only for the students who participate in it directly here at the University of Maryland, but also for students nationally and internationally who participate in programs inspired by it. Now, area real-estate developer David Hillman, president of Southern Management Corporation in Vienna, Va., has generously contributed $1.7 million to create the Hillman Entrepreneurs Program, a four-year pilot effort to provide entrepreneurship scholarships and education to students who enter the University of Maryland after two years at Prince George’s Community College (Prince George’s County, Md.). The new program will increase awareness of entrepreneurship among the general public, provide a new source of entrepreneurial students to the university and help stimulate economic growth in Prince George’s County and the state. Hillman has also established the Southern Management Corporation Endowed Public Policy Graduate Assistantship at the university.

The entrepreneurial tide is rising, if the Clark School's annual Technology Start-Up Boot Camp is any indicator. The intensive, one-day workshop, which teaches faculty and students how to bridge the gap between innovations and successful ventures, drew more than 500 registrants from 16 universities across the region this fall. Teachers at the Boot Camp included leading entrepreneurs, investors, and venture capitalists from the Mid-Atlantic region.

The Clark School's Maryland Technology Enterprise Institute launched the first university-based summer entrepreneurship course for high school students in the region. The course drew 17 students from as far away as South Carolina and New York, as well as North Carolina, New Jersey, and Maryland. The rigorous and fun entrepreneurship experience culminated with presentations of prospective business ideas to parents and dignitaries. Ideas for new companies ranged from PC-based home utility monitoring to an online community for athletes.

Since 1987, the Maryland Industrial Partnerships program (MIPS) has had a $9.9 billion impact on the Maryland economy. The program has brought $109.8 million in funding into the University System of Maryland for research, plus $9.8 billion in revenue from MIPS-related commercial products such as MedImmune’s Synagis ($4.4 billion); Martek Biosciences’ infant formula additives ($566.7 million); and Hughes Network Systems’ DIRECWAY ($4.8 billion). MIPS research also helped develop Black & Decker’s Bullet Speed Tip Masonry Drill Bits, which have contributed to $16.4 billion in sales for the company’s Power Tools and Accessories Sales since 2001.

MIPS announced its 36th round of funding, supporting university research for 15 projects to help Maryland companies develop technology-based products. The round brought in $1.8 million from companies for the university research.

The Maryland Technology Extension Service (MTES), which offers manufacturing solutions to Maryland companies, announced it has had a $63.9 million impact on the Maryland economy from January 2000 through June 2005. The data, based upon surveys by the National Institute of Standards and Technology’s Manufacturing Extension Partnership, showed MTES has assisted Maryland manufacturers in: increasing sales by $12.8 million; retaining sales by $28.3 million; saving $5.3 million in costs; saving $1.2 in investments; avoiding $8.7 million in investments; and increasing plant or equipment investment by $7.6 million. Companies have also created or retained 706 employees thanks to MTES’ assistance.

Technology Advancement Program (TAP) firm Innovative Biosensors completed a $3.5 million Series A venture round of funding. The company also completed commercialization of its unique pathogen detection system (which applies to bird flu, salmonella, SARS, and other pathogens), won a Small Business Innovation Research award, and significantly expanded its staff.

Scott Magids, Director of MTECH Ventures, testified about the Clark School’s holistic approach to technology entrepreneurship and venture creation before a U.S. Senate subcommittee investigating approaches to bridging the gap between innovations and commercial ventures.