Betamore plans major transformation to become a regional hub for entrepreneurs

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Authored by: Sarah Gantz, Baltimore Business Journal

Read the original article here

Betamore wants to be more than a place startups turn when they need a desk or office.

The Federal Hill incubator on Thursday will unveil plans for a 40-member advisory board stacked with investors, entrepreneurs and business leaders; a year-round education program; and a membership organization. The plan is intended to transform Betamore from an incubator for Baltimore startups to a regional tech hub that is the nucleus of an entrepreneurship community that stretches across the city and state.

“This is how we’re going to rebrand the city,” said John Cammack, a former T. Rowe Price executive who is now an investor and will serve as chair of the advisory board.

Betamore’s transition comes as the organization finalizes its transition to a nonprofit organization after merging in January with the former gbtc (Greater Baltimore Tech Council). As part of the merger, Betamore took on gbtc’s nonprofit status. Law firm Miles & Stockbridge P.C. and accounting firm Ellin & Tucker handled the transition.

Cammack, Betamore founder Greg Cangialosi and its newly minted CEO Jen Meyer envision the new-and-improved Betamore as a lifeline for startups. Whatever they need — help hammering out a kink in their business plan, a chance to pitch to investors, office space — Betamore will help get it. The three believe creating a strong community for startups, where it is easy to get the funding and business support necessary to grow a business, is key to keeping more talented entrepreneurs and startups in Baltimore.

“If we don’t have the ability to fund these startups, to help them succeed here, they’ll go to New York, Boston, Silicon Valley,” Cammack said. “We’ve got to roll up our sleeves on all aspects of this.”