As different as they are, Baltimore and DC do have one thing in common: a plethora of accelerator opportunities for startups and founders in various industries. Some of these are exclusive to each city, while others are open to companies the world over. Here are just three such accelerators in the combined area with open applications:
This fall, three local institutions are teaming up for one huge neurotech accelerator.
Johns Hopkins, Howard University and the National Institutes of Health (NIH) partnered to launch NeuroTech Harbor, an accelerator for companies developing technology for neurological issues. The program is funded by a $5 million investment from the NIH, spread over five years, with the potential to grow to $20 million annually. The accelerator hopes to launch 45 startups over that time frame. Selected companies can participate for up to four years with $500,000 from the program annually.
The program is designed for neurotech companies from the early stages to the point when they’re human-grade prototype-ready. Selected applicants will receive non-dilutive funds to support device development, mentor support, concept development and team building assistance, consultants’ support and more.
The program’s creators say they’re looking for groundbreaking, collaborative projects on the diagnosis or treatment of nervous system disorders. Applicants must have a pathway to prototype within the next four years and projects, if successful, should be viable for commercial development or a sustainable financial plan for rare disorders.
NeuroTech Harbor organizers did not immediately respond to a request for comment on the program.
As of this week, national incubator 1501 Health has opened program applications for early-stage healthcare startups.
The year-long cohort will receive up to $125,000 in investment capital — 25% more than the program offered last year thanks to the new challenges startups face, according to program leaders. In the program, accepted applicants will receive mentorship, networking and educational events and payer and provider expert support. The program is looking for seven to eight startups to join the third cohort early next year. 1501 was launched in 2021 by Healthworx and LifeBridge Health.
“Many promising, yet undiscovered innovators are looking to fill gaps and connect dots in a healthcare ecosystem that desperately needs it,” said Pothik Chatterjee, assistant vice president of innovation and operations support at LifeBridge in a statement. “We’re excited to play a meaningful and pragmatic part in advancing real solutions for the benefit of our patients and communities.”
Baltipreneurs Accelerator Program
The Loyola University of Maryland has opened applications for its Baltipreneurs program, which supports — you guessed it — Baltimore entrepreneurs.
Teams will attend 10 virtual sessions between December through March, which culminates in a Demo Day in the spring. The program will provide a minimum of $40,000 in total for eight area startups. The program is open to Loyola students and staff but is not limited to those affiliated with the university. This year, the program is also hosting a Women Founders Pre-Application bootcamp, featuring a micro pitch competition, to encourage more women applicants.
Startups selected for the part-time program will receive training, technical assistance, mentorship, networking and access to capital. The program is only open to startups operating in the city limits of Baltimore. Each startup will receive a minimum of $2,000 in stipends, which includes $500 after completing the first five milestones, $1,000 after meeting other agreed-upon major benchmarks and $500 after a Demo Day presentation. An additional $24,00o is available in awards to the highest performing teams.
The Darnestown, Maryland-based Pax Momentum has opened up applications for its sixth cohort. The eight-week virtual accelerator offers entrepreneurs around the world the chance to create a sales playbook, learn SaaS metrics and strategy, develop a public relations plan and learn from one-on-one mentorship. It also provides accepted companies with a $100,000 cash investment and $25,000 in-kind one, as well as events through which companies can meet other possible funders.
This year’s cohort will be open to more potential applicants, as Pax Momentum changed its criteria to include pre-revenue companies.-30-