Courtesy of Citybizlist – Loyola University Maryland is launching a business accelerator, an initiative that will create a forum for the University to collaborate with local entrepreneurs interested in creating and building new businesses. The accelerator will be located in the Govans community in North Baltimore, just east of Loyola’s North Charles Street campus.
The project is a partnership with Wasabi Ventures, a California-based venture capital firm with a presence in Baltimore, which will provide professional staff to manage the accelerator, funding for start-up companies, internships for Loyola students, and the expertise of entrepreneur-in-residence Thomas “T.K.” Kuegler, Wasabi’s co-founder, general partner, and a 1994 Loyola graduate.
“This initiative allows us to advance two priorities deeply important to the University,” said Rev. Brian F. Linnane, S.J., Loyola’s president. “First, it creates new opportunities for our students to think creatively about new products, new markets, and the types of business, marketing, and expansion plans that will help young companies grow, and to apply these ideas to real-world organizations and the entrepreneurs behind them. For those with an entrepreneurial spirit of their own, it can give them a chance to get their own businesses off the ground. Second, it offers Loyola a new way of continuing to contribute to the revitalization of the York Road commercial corridor. Loyola is committed to contributing to projects that help improve the quality of life for all those living, working, and learning in this community, and helping to revitalize its businesses is a key part of that effort. ”