"The UMBC Technology Center continues to be one of the best university-related, high-tech business incubators in the Mid-Atlantic. We look forward to watching all four of these outstanding firms continue to bring innovation and job growth to the Baltimore region and beyond."--President Freeman A. Hrabowski, III
Strong Showing for UMBC Incubator Companies
June 28, 2002--Two of the four UMBC Technology Center companies nominated for the Maryland Technology Development Corporation's Incubator of the Year Awards won honors at a June 12 ceremony hosted by UMBC President Freeman Hrabowski.
In Vitro Technologies (IVT) was named best incubator graduate and Columbia Technologies was recognized for its innovative technology. Tech Center firms Epitaxial Technologies and Accelics were nominated in the best incubator graduate and information technology company of the year categories, respectively.
IVT provides custom R&D products and services to the pharmaceutical and biotech markets. IVT has doubled in size over the past two years and now employs 75 people and has annual revenues of $11 million. IVT also recently launched StelSys, LLC, a subsidiary to develop applications of NASA bioreactor technology.
Columbia Technologies' award honored their innovative probe-sensor technology that provides real-time analysis, mapping, and tracking of pollutants at environmental cleanup sites. Since coming to UMBC, Columbia has grown to 23 employees and projects 2002 revenues of $3.5 million.
Best graduate nominee Epitaxial Technologies makes semiconductor chip products for wireless telecommunications industry leaders like Motorola and Lucent. IT company of the year nominee Accelics specializes in software to help speed up FDA approval time for the pharmaceutical and chemical R&D markets.