Entrepreneur Magazine Ranks Maryland Top State for Startups

Maryland was recently ranked the best place to start a business, according to Entrepreneur magazine.

Its list of the “10 Best States for Starting a Business” evaluated states based on programs that support entrepreneurs; the number of jobs in science, technology, engineering and mathematics; and concentration of high-tech businesses. 

Two programs in particular set Maryland apart, according to Entrepreneur. One was ACTiVATE, a UMBC-developed initiative that helps women launch technology companies. Around since 2004, the program's alumna added 77 jobs and developed 32 companies for the region by 2010, according to the Baltimore Business Journal.

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The other offering Entrepreneur singled out was a special networking list called “Maryland Entrepreneurs Resource List (MERL),” made up of individuals available for startup opportunities. Those on the list must meet criteria such as five years of executive experience.

A report prepared for the U.S. Chamber of Commerce Foundation was the springboard for Entrepreneur’s list. The federally commissioned report, called "Enterprising States," used five factors—with entrepreneurship and innovation as one—to evaluate the economic conditions across the nation.

Based on just entrepreneurship and innovation, the Chamber of Commerce report ranked the top states as follows: 

• Maryland
• Colorado
• Virginia
• Utah
• Massachusetts
• Texas
• Washington
• Arizona
• Georgia
• Florida

Maryland was also number one in academic research and development, one of 33 measures considered in the rankings, which contributed to its top status in entrepreneurship and innovation.

Including the other four factors—exports and international trade, business climate, talent pipeline and infrastructure—Maryland ranked ninth overall.

See Also:

• 10 Best States for Starting a Business (Entrepreneur)
• Enterprising States report
• Tech Incubator to Open in Havre de Grace

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