BALTIMORE (February 28, 2023) – Made In Baltimore (MIB), a program of the Baltimore Development Corporation (BDC), is now accepting applications for the 2023 Home-Run Accelerator Cohort. Made In Baltimore’s Home-Run Accelerator is a five-month small business development program designed to help home-based entrepreneurs scale up and out into commercial production space.
The program is specifically tailored for product-based businesses that are currently run by entrepreneurs out of their home or a shared makerspace. The curriculum consists of two main components:
An eight-week Master Class curriculum designed and taught by seasoned Made In Baltimore business owners and other local experts in the fields of business development and real estate.
Additionally, program participants will be paired with Peer Mentors who have successfully scaled businesses out of their homes. The Peer Mentors will offer guidance and assistance to participants for three months following completion of the Master Classes.
Throughout the program, participants are supported by Made In Baltimore staff, who offer connections to resource providers, feedback on plan development, and assistance identifying locations to grow their businesses. Participants who successfully complete the program are awarded between $5,000 – $10,000 in seed capital to support their launch into a new facility.
“The Made In Baltimore Home-Run Accelerator Program leverages local talent and entrepreneurs to create opportunities for city residents,” said Colin Tarbert, president & CEO of the Baltimore Development Corporation. “This program draws on the wisdom and experience of other local business owners who’ve scaled up their production to assist new entrepreneurs to do the same, which aligns with Baltimore Together’s strategy of investing in people and places for more equitable economic growth.
The Home-Run Accelerator is open to entrepreneurs who make or manufacture a physical product in Baltimore City; are in good standing with the State of Maryland; currently run their business out of their home or shared makerspace; have been in operation for at least 18 months; and are committed to growing their business into a commercial or industrial space within the next year. Up to 12 entrepreneurs will be selected to participate in the cohort with a strong emphasis on women and people of color. Selections will occur in April.
“Made In Baltimore is thrilled to be offering the Home-Run Accelerator to a second cohort of entrepreneurs,” said Andy Cook, Executive Director of Made In Baltimore. “So many small businesses are started at home but face real barriers when it comes time to grow into a commercial space. This challenge is particularly acute for businesses owned by women and people of color, who often don’t have access to the networks and resources that many businesses use to take this leap.”
In existence since 2021, the Home-Run Accelerator has had twelve companies, all women and minority-owned businesses, complete the program.
Interested entrepreneurs are asked to complete the application on the Made In Baltimore web page at http://madeinBaltimore.org/2023/02/hr-2/. Additionally, MIB will hold a free information session regarding the accelerator program on March 9, 2023. Registration is required; details can be found on Home-Run Accelerator web page.