Activate, a program to train female entrepreneurs at bwtech@UMBC, the business incubator at the University of Maryland, Baltimore County in Catonsville, has been named as the only U.S. program to be honored as one of three Good Practices programs.
The recognition is from the organizers of FemStart, a partnership of six European universities formed in 2006 to study female entrepreneurship and entrepreneurship training programs at universities. The other university programs cited are the MEETS program in Cambridge, U.K., and the NEnA program in Halle, Germany.
FemStart organized a series of six conferences in various European cities over the past two years to study entrepreneurship programs that have successfully attracted female participants, particularly those in science and technology. Administrators at Activate — an acronym for Achieving the Commercialization of Technology in Ventures Through Applied Training for Entrepreneurs — presented at five of these conferences, which in total attracted more than 500 participants.
"Attending the FemStart conferences showed us how much interest there is in successful programs that train female entrepreneurs," said Stephen Auvil, assistant vice president for research at UMBC, and a presenter for Activate at the conferences. "It was an honor to be able to share Activate's successful model with the European academic and business communities."
In its first four years, the program has trained 92 women and has launched more than 25 companies.
Said David Fink, director of entrepreneurial services at bwtech@UMBC and the Activate program director, who presented at two of the other FemStart conferences: "We are very proud of this latest recognition for Activate. It affirms that the program is a worldwide leader in producing successful women entrepreneurs in the science and technology fields."
One of Activate's 2005 graduates, Mona Jhaveri, was the North American honoree at the Cartier Women's Initiative Awards last fall at the annual Women's Forum for the Economy and Society in Deauville, France. Jhaveri is the founder and CEO of Foligo Therapeutics, which develops molecular-based products to improve detecting and treating ovarian cancer. Foligo, initially at bwtech@UMBC, now has its own office in Rockville.
Activate is a yearlong, joint program of bwtech@UMBC's incubator, the UMBC Office of Technology Development, and the Alex. Brown Center for Entrepreneurship. The program utilizes technologies developed by Maryland's universities and research institutions and trains midcareer women with technical or business experience to start companies based on those technologies.
It was initially funded by a grant from the National Science Foundation. Current sponsors include the Maryland Technology Development Corp., the Ewing Marion Kauffman Foundation, Venable LLP, Corporate Office Properties Trust, Miles & Stockbridge, Whiteford, Taylor and Preston, and SB and Co.