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Strong and Prosperous Businesses

Increase number of Maryland Center for Entrepreneurship successful companies to 120 by 2025

92 

FY19 Actual


FY18 Actual
81

Objective Description

The Maryland Center for Entrepreneurship (MCE)/Innovation Center is a Howard County Economic Development Authority (HCEDA) initiative which provides a robust, interactive community of innovators, entrepreneurs, investors and advisors to collaborate in order to successfully ignite innovation and launch high-growth, technology-based companies in an entrepreneurial ecosystem abundant with resources. The goal of the MCE's resident program is to successfully incubate and graduate start-up companies that will remain in operation post-graduation. MCE graduate companies who remain in operation represent a wide range of industry types and employee numbers which continues to show a diverse portfolio of successes from the MCE resident program. A successful MCE company is defined as one that has been part of the program and remains in business currently.

Trend Analysis

Even as the MCE begins to reach full resident capacity, there has been a continued upward trend through FY 2019 in both MCE company success and employee counts of MCE member and graduate companies. Due to the impending move of MCE operations into the new Gateway Innovation Center, there was a decrease in MCE visitor activity between FY 2018 and FY 2019. Client service and visitor activity is projected to expand into FY 2020 as the MCE finalizes its move into the Gateway Innovation Center which will provide more strategically-focused innovation activities and outreach.

Strategies

  • Establish the Howard Innovation Center as an anchor for innovation in the county.
  • Expand strategic partnerships to facilitate small business growth and opportunities.
  • Utilize the Innovation Center to facilitate education, training, and collaboration.

Source: Howard County Economic Development Authority

Detailed Analysis


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