Despite EDA decision, the Baltimore Tech Hub is still possible: Kory Bailey

In early July, the US Economic Development Administration announced 12 federally designated Tech Hubs will receive a total of $504 million in implementation funding for their Phase 2 proposals, part of the multi-phase Tech Hubs program that aims to spread $10 billion in federal funding across the 31 Phase 1 awardees (including Baltimore) with the goal of accelerating U.S. innovation and global competitiveness.

The Baltimore Tech Hub was not selected for Phase 2 funding.

As one of the biggest champions for entrepreneurs, startups and tech as the people, companies and instrument for equitable economic growth, I was disappointed by the decision. 

But then something happened — a moment of critical hope that proved we are indeed living the “equitech” vision. 

The day we found out, we did what we always do in Baltimore. We came together! Over 60 tech founders, leaders and community members gathered at Equitech Tuesday to lessen the blow, to lift each other up, to talk about the path forward and to collectively get back to work.

The crowd at Equitech Tuesday on July 2, 2024 (Ian Harpool/Harpool Media)

Ask Gov. Wes Moore. Partnership is not a buzzword in Maryland. It is a way of life. No one can solve centuries-long problems and capitalize on generational opportunities alone. 

Ask Mark Anthony Thomas. Collaboration is no longer fleeting in Baltimore. We embrace it. Rallying communities, including diverse voices, capturing data and shifting narratives is hard. It takes time. 

Ask any of our brilliant startup founders, especially those that identify as women, as people of color or who find themselves anywhere outside an established tech hub. Building teams, creating culture and nurturing transformational change takes a village.

As the ecosystem builder for the Baltimore Tech Hub, UpSurge Baltimore is proud to partner with the Greater Baltimore Committee to support the Tech Hubs program. 

The time to step up, take big swings and contribute to collective impact is NOW!

We’re proud of the proposal put forth by our consortium. 48+ organizations and institutions across the region came together to craft four ambitious and interconnected projects leveraging physical space, regional networks and partnerships to produce the world’s most advanced technologies at the intersection of biotech, AI and predictive healthcare, along with a diverse and dynamic set of entrepreneurs, innovative startups and highly-prepared workforce of the future unlike anything we’ve ever seen.

In order to sustain the momentum we’ve created in the three years since UpSurge’s launch, continue the progress we have made together in the past year and give the Baltimore Tech Hub the best possible chance to win a share of the estimated $4 billion in federal funding scheduled to be awarded in 2025, we need all of our public and private sector leaders to be ALL IN.

Let’s unleash every form of capital we have at our disposal, most importantly, active participation and significant funding. In-kind resources and short-sighted philanthropic support is not enough. 

The time to step up, take big swings and contribute to collective impact is NOW!

Who’s in?