Six Maryland companies have been selected to participate in the Advance Maryland program, an initiative that accelerates expansion of second-stage growth companies.
Run by the Maryland Department of Commerce and the Economic Alliance of Greater Baltimore (EAGB), the program offers critical, customized strategic information at no cost to selected companies to help them identify business opportunities and grow. The program is being administered in partnership with the Edward Lowe Foundation's National Center for Economic Gardening.
Selected companies are Ascellon Corp. (Prince George's County); Chesapeake Testing Systems (Harford County); FiberCell Systems (Baltimore City); Harbor Designs and Manufacturing (Baltimore City); M3D (Howard County); and Pura Vida Medical Spa and Cosmetic Laser Center (Howard County).
"We are very excited to participate in the Advance Maryland initiative because we will be able to utilize specialists as an extension of our staff in developing a marketing strategy that will better penetrate our industry," said Sheila Scott, CEO of Ascellon Corp. "With this assistance, we will be able to better utilize our limited resources more effectively to expand our market share."
As part of the program, selected companies will be matched with a national network of highly-skilled research specialists and spend eight to 12 hours collaborating on a project plan and next steps for the company. The value of the specialized market research is up to $5,000 per company. Potential projects include identifying and prioritizing sales leads and business opportunities, refining core strategies and business models, and using social media to connect with customers and create buzz about products or services. Maryland Commerce and EAGB will stay in touch with the companies for one year to gauge the impact and success of the program.
"The one-on-one consulting the Advance Maryland program provides is invaluable to any company seeking to expand their market share and advance to the next level of growth," said Maryland Commerce Secretary Mike Gill. "I am excited to welcome six new companies into the program and look forward to seeing some impressive results."
Since being created in 2013, Advance Maryland has accepted a total of 16 companies into the program from a variety of industries including manufacturing, healthcare and technology.
"Our best customers are our existing customers therefore it is critical to our economic development strategy to support our small businesses to help them grow. The Advance Maryland program provides the right mechanism to do this, helping 16 companies to date," said EAGB's president and CEO Tom Sadowski.
