Entrepreneurship

Entrepreneurship Greater Baltimore

• For the fourth year in a row, the Maryland Technology Development Corporation has been recognized by Entrepreneur Magazine as the top early-stage venture capital investor in the nation, awarding the largest number of investments (22) to start-up companies in 2006. New Enterprise Associates of Baltimore ranks fourth with 13 deals, and the Maryland Department of Business and Economic Development ranks in the top 25 with six deals.
• Baltimore City ranks 9th among U.S. cities in the number of black-owned firms.
• The Washington-Baltimore metro area ranks 6th nationally among “Hot Cities for Entrepreneurship” based on entrepreneurial activity that includes small business growth and job growth.
• New Enterprise Associates, a Baltimore based venture firm, was the 2nd most active venture investor in the nation in 2005.
• The University ranked in the top 25 programs nationally with an “entrepreneurial emphasis” of Baltimore.

State of Maryland

• Maryland ranks 2nd nationally in federal obligations for research and development ($12.2 billion). On a per capita basis, Maryland ranks 1st among the states in federal R&D obligations.
• Maryland ranks 2nd among the states in research and development intensity, which is the ratio of R&D expenditures to gross domestic product (GDP) by state.
• Maryland ranks 4th in the nation in R&D expenditures at universities and colleges, totaling $2.53 billion in FY 2006. Further, Maryland ranks 3rd in federal government R&D spending at universities and colleges with $1.86 billion.