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August 4, 2009

bwtech@UMBC Announces New Incubator

Program Targets Small Disadvantaged Businesses


FOR IMMEDIATE RELEASE:
August 4, 2009

CONTACT:
Deborah Shapiro
Marketing Manager
410-455-1509
dshapiro@umbc.edu

bwtech@UMBC is pleased to announce a new incubator located in Class A office space within the bwtech@UMBC Research Park. The Advantage Incubator@bwtech opened for business last week with four new tenants. The new incubator is designed for early-stage companies that are minority-, women- or veteran-owned and have substantial business activities aimed at providing technology-related products and services to state and federal agencies.

The founding tenants are Premier Management Corporation, a network security consultant for NSA and other federal agencies; Farfield Systems, a provider of IT and systems engineering services and training; CardioMed Device Consultants, a regulatory consultant for medical device companies; and the Nixon Group, a multi-faceted company with experience in healthcare and financial services. Alex Euler, bwtech@UMBC’s associate director of business development, reports that there has been much interest from the business community. In addition to the four companies above, several other companies have made inquiries. “Businesses that contract with the federal government are still experiencing growth, despite weakening in the overall market,” said Euler. “The Advantage Incubator’s proximity to a number of federal agencies and research centers such as NSA, NIH, FDA, NASA and DOD is a great asset. Client companies also benefit from the park’s federal HUBZone and state Enterprise Zone designations.”

The founding four are looking forward to expanding their businesses and taking advantage of the benefits the Advantage Incubator has to offer. Semih Oktay, president of CardioMed Device Consultants, is happy to be back at UMBC, having earned his Ph.D. in mechanical engineering at the university in 1993. He cited the location, with its proximity to the airport, as a key factor in his decision to relocate, noting that many of his company’s clients are from out of town. Oktay is also looking forward to hiring student interns in the future and notes that UMBC’s corporate training facilities will allow him to offer training to client groups.

Greg Tyler, vice president for business development and recruiting for Farfield Systems, a service disabled veteran-owned small business, noted that the incubator’s HUBZone designation was the primary reason for his company’s move. The company, founded in 2002, specializes in training and intelligence analysis in the area of information systems. Most of its contracts are with the Department of Defense, but Tyler said the company is branching out to private sector clients as well. Tyler also noted that Farfield is looking forward to establishing relationships with UMBC faculty and students and plans to hire students to fill its staffing needs.

“bwtech@UMBC is delighted to create a new incubator within the research park,” said Ellen Hemmerly, executive director of the bwtech@UMBC Research and Technology Park. “This is a unique program that allows clients to operate in a Class A environment, with shared reception areas, conference rooms and university resources. Combine that with our HUBZone status and experienced entrepreneurial services team, and it is clear that we are providing tremendous value to these companies.”

Posted by dshapiro at August 4, 2009 10:47 AM