Expansion of Capital Access Network Addresses Critical Funding Gap for DC-Baltimore Region Startups

College Park, Md. – Sept. 11, 2008 – The Dingman Center at the University of Maryland’s Robert H. Smith School of Business today announced it has expanded its Capital Access Network (CAN), a pipeline for connecting startups with investors, to include inventors and entrepreneurs working with Johns Hopkins Technology Transfer. The new partnership adds to the center’s CAN alliances with tech councils, incubators and state-funded institutions — including the Baltimore Emerging Technology Centers, the Montgomery County Department of Economic Development’s Incubator Network, and the Maryland Technology Enterprise Institute — which enable the center to connect entrepreneurs of mid-Atlantic start-up companies with more a network of than 75 active, accredited angel investors and venture capitalists for early-stage capital. Investors heard funding pitches from three companies yesterday at the Smith School in College Park, Md. in the first of this year’s monthly CAN events.

“We’re excited to offer CAN as a direct path to funding for more companies in the region,” said Melissa Carrier, director of investments and social venturing at the Dingman Center for Entrepreneurship. “With the current state of the economy, bank loans are more difficult to secure, making angel investments so crucial for many startups. We’re here to help connect the best ideas with the individuals and organizations looking to invest in the most promising ventures.”

Entrepreneurs seeking seed and early-stage funding apply to participate in the Dingman Center’s CAN and are screened by the center’s team of staff, entrepreneurs-in-residence, and MBA students. Each month, three companies are selected to present to CAN investors at the Smith School. After each event, the Dingman Center team works with investors and supports the companies throughout the funding process. CAN has been in operation since 2005, last year accepting nearly 70 applications from companies that resulted in 22 presentations to investors and four funding events.

“We are pleased to partner with CAN to allow us to continue to grow Johns Hopkins’ and the region’s entrepreneurial venture capacity,” said Steve Kubisen, senior director, ventures of Johns Hopkins Technology Transfer. “The Baltimore-Washington region is rich in research and venture opportunities. With recent increased focus on startups at Johns Hopkins, we have been able to spin off 12 ventures in fiscal year 2008.”

The Dingman Center’s expansion of CAN follows Gov. Martin O’Malley's recent launch of an initiative to invest $1.1 billion in Maryland’s bioscience industry over the next 10 years and the state’s No. 2 nationwide ranking by the Milken Institute for technology economy preparedness.

“We are committed to helping startups get off the ground and contribute to the economic engine of the state of Maryland and the surrounding region,” said Asher Epstein, managing director of the Dingman Center for Entrepreneurship. “Maryland’s vibrant entrepreneurial spirit, top workforce and access to public and private resources make this the ideal climate to start and grow a business — whether a technology venture or otherwise.”

The Dingman Center provides MBA and undergraduate students with practical experiences with entrepreneurial opportunities through weekly opportunities to pitch their business ideas, feedback from experienced entrepreneurs-in-residence, and mentoring. The center has been a hub of entrepreneurial activity for alumni and regional startups for more than 20 years, specializing in growing companies from the first idea to the first million dollars in profits. The Smith School is rated among the best in the nation for its entrepreneurship offerings, according to rankings by U.S. News & World Report, Entrepreneur magazine, The Princeton Review, and Fortune Small Business.

About the University of Maryland’s Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 13 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, executive MS, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations on three continents — North America, Europe and Asia.