For the second year in a row Maryland has been ranked the No. 1 state for innovation and entrepreneurship, a title that while impressive, is not so surprising. If you consider Maryland's dedication to funds and initiatives centered on technology and innovation, well there's no denying the state's support for the startup realm.
Universities from across the region recognize the value in grooming talented entrepreneurs too, supplying the resources necessary for their students to be the next Zuckerbergs, taking over the world one successful venture at a time. Whether it's Under Armour with roots back to University of Maryland or the ACTiVATE Initiative launched by University of Maryland Baltimore County, offering promising female innovators training conducive to developing brand new tech businesses, Maryland certainly knows what it takes to foster the growth of unique startups with great potential.
Maryland was named the top state for innovation and entrepreneurship by the Enterprising States study – a project of the U.S. Chamber of Commerce Foundation and conducted by the Praxis Strategy Group. The study evaluated the priorities, policies and programs of all 50 states that are "vital for job growth and economic prosperity." They were each ranked for their overall job growth, economic performance and accomplishments across these five policy areas: exports and international trade; entrepreneurship and innovation; business climate; talent pipeline; and infrastructure.
Maryland was once again given the No. 1 title for "recognizing the value of connecting tech startups with experienced entrepreneurs." Maryland also launched the Maryland Entrepreneurs Resource List, which according to Enterprising States is "a roster of expert and experienced tech executives who are ready to mentor or lead new companies, helping them through the early stages of their establishment."
It's a list that connects "nascent firms with people who have been through the process," offering "a chance to increase the survival rate of promising startups, ultimately creating jobs and increasing economic activity."
There's also Maryland's high concentrations of high-tech activity and research. In 2012 Maryland was named the top state for academic research and development and the third best state in science, technology, engineering and mathematics (STEM) jobs. Clearly the state is having no trouble translating its academic research to the private sector.
Virginia didn't fall far behind this year, landing the No. 3 spot on Enterprising States' list. Dubbed the best state in the nation for STEM jobs, first state in STEM job concentration and second in STEM job growth, Virginia's not having any problems keeping up with Maryland. The Commonwealth has the "highest share of business establishments in high-tech industries," according to the study.
So what do these findings say about Maryland and Virginia? Well that these two states bordering D.C. understand how invaluable entrepreneurs are to their economic advancement. They are doing their best to make it easier for fledgling ventures to find success in their home states, ensuring that they retain their local talent.
