NEW BUSINESSes are BOOMING IN montgomery county
Support services, business incubators, and local resources help prepare startups for success.
The Business Innovation Network Supports Entrepreneurs
From technology and cybersecurity, to professional services and life sciences, the Business Innovation Network of Montgomery County, Maryland has the perfect place for emerging companies to succeed. Since its inception, they have worked with more then 250 teams of entrepreneurs.
With easy access to I-270, the Germantown Innovation Network is the County's premier space for life sciences companies featuring wet labs and clean rooms. Working in partnership with Montgomery College's state-of-the art biotech facilities, their award-winning program is nationally recognized. Don’t need physical space? Ask about their virtual incubator membership option.
Get inspired by working in the same building as Rockville Town Square's VisArts Center, where artists deck the halls with their creations. Rockville Innovation Center features flexible office space with huddle areas and modern furniture. And firms started in Montgomery County’s Business Innovation Network have an excellent track record.
Located just steps away from the nation's capital in downtown Silver Spring, the Silver Spring Innovation Center boasts an industrial feel for its technology companies that are proud to call it their home. Plus, members of the County’s Innovation Network have also won Maryland Incubator of the Year awards, received venture capital, and been acquired by Fortune 500 companies.
BioHealth Innovation Partners With New Businesses
BioHealth Innovation is a regional intermediary that accelerates and facilitates the commercialization of market-relevant research in federal labs, universities, and businesses. It is a private-public partnership that turns promise into prosperity for the region, while advancing human health.
BHI works to accomplish its mission of building an entrepreneurial ecosystem by making various types of risk capital readily available to BioHealth startups, strengthening and connecting the local supply of industry talent, and advocating for improved regulatory conditions in the industry.
The Entrepreneur-in-Residence Program at BHI is aimed at ensuring that technologies receive all the resources that are required to transform it from a discovery into a commercially relevant product, and eventually have a measurable impact on human health. The program has been created to support scientists, early stage startups, and licensed technologies with access to these resources.
BHI also works with a supporting network of renowned professional service providers that share the same vision for growing Maryland’s BioHealth sector. These professionals work in partnership with BHI to support client companies achieve their goals. They understand the nature and needs of startup companies, and offer them preferred rates.
Specialty Incubators Give Companies A Head Start
Montgomery County’s specialty incubators in Bethesda, Rockville, and Silver Spring provide assistance to everything from green businesses, to new government contractors and product developers. They help build vital connections in the community, while offering critical support and resources.
OST Global Solutions runs the GovCon Incubator—designed to help new government contractors grow in the area’s vast federal market. It also helps existing companies make the transition to becoming prime contractors faster.
Bethesda Green is proud to incubate Montgomery County’s growing green businesses. They also educate the community about sustainability, and raise awareness through programs and education.
TechFire supports and mentors people with a great tech idea bring it to market. It assists them with product development, provides shared workspace, and helps trouble-shoot to decrease risk.
Fosterly Census Startup Report Provides Real Business Data
To better understand the dynamics of the greater Washington, D.C. area innovative economy, The Fosterly Census has created their 2017 Startup Report—providing our communities with unique insights and relevant data to help them make informed decisions.
The Fosterly Census’ goal is to unify the region as a top-tier market for entrepreneurship and technological innovation—driven by responsive, informed policy makers and community leaders who work together to create sustainable growth. By repeating the Census each year, long-term trends will emerge in the data that not only help guide leaders going forward, but measure past progress as well.
While many people believe that the Washington, D.C. area is government dominated, it will likely come as a surprise that the government is not the primary revenue source for startups in the area. The percentage of IT and computer-related services (technology) lead the Census industry list by a significant margin.
The increasing percentage of startups earning revenue from private, not public, sources is a positive trend—especially given the Greater Washington’s continued need to diversify our economy away from the federal government.
Gaithersburg Startup: GivHero
GivHero came out of the idea that people should make donating to charity a habit, but they needed a platform to help them incorporate into their daily lives. Founder Vishal Chintawar had worked with nonprofit organizations and saw the struggle to reach new donors and engage existing ones. It seemed that everyone cared about giving back, but were often too busy.
Vishal imagined an app that would make doing good easy, as well as draw on everyday activities. It would give users a choice in selecting charities and options for automatically managing donations all year long.
So GivHero built a powerful tool that taps into health and fitness activities and turns them into fundraising. Users set a goal, from losing weight to controlling blood pressure. Track your progress and choose a charity to donate to when you reach your goal. Friends and family can even join in.
GivHero has programs for individuals, corporations, and nonprofits that encourage both good health and charitable giving.
Rockville Startup: Spotluck
Launched just four years ago in Rockville, Maryland, Spotluck started its journey like most startups—with a handful of clients and a few hundred users. The Spotluck app, a dining tool that helps people find a local place to eat quickly and easily, also offers discounts up to 35% off.
Spotluck, now in Bethesda, partners with more than 1,500 restaurants throughout Greater Washington, D.C., Baltimore, Richmond, Greater Philadelphia, New Jersey, Delaware, Manhattan, Queens, and Brooklyn. They also operate in multiple small towns and neighborhoods throughout the East Coast.
But its newest product, the Octopus tablet, is changing the rideshare experience with passenger games and entertainment. It also offers the ability to run short ads that help drivers with FREE tablets, data and accessories, plus cash rewards.
More than 80% of Octopus drivers have reported a noticeable improvement in their driving experience—including higher tips, better ratings, and friendlier conversations.
And for advertisers, they reach people on the move—putting their brand front and center with geo-targeted video ads played to a captive audience.