Two area Catholic universities are doing their part to cultivate entrepreneurism. Loyola University Maryland in Baltimore and Mount St. Mary’s University in Emmitsburg both offer programs and resources that are helping support the next generation of innovators.
Loyola’s Simon Center for Innovation and Entrepreneurship started the Baltipreneurs Accelerator program in 2019. The program primarily serves Baltimore entrepreneurs who are founders of color or women.
“Women and Black founders received only 2 percent and 1 percent, respectively, of venture capital in 2022,” said Wendy Bolger, founding director of the Simon Center. “It is not a level playing field for underestimated founders, so programs like Baltipreneurs are needed so that there is more support for entrepreneurs who look different.”
Since its inception, the Baltipreneurs Accelerator has worked intensively with 47 entrepreneurs from 38 ventures. Participants receive training and technical assistance, mentorship, networking opportunities and access to capital. This year’s group met weekly December through March and ended with a “Demo Day” showcase March 21.
“The most successful Baltipreneurs are the ones who take advantage of all of the resources we throw at them – theory, research help, introductions, advice, student project teams, mentorship and, critically, each other, through their peer cohort,” Bolger said.
Paula Dofat, founder of HBCU Money Guide – The “Free Degree” Resource Center, was awarded $5,500 and the Impact Award at Demo Day. HBCU Money Guide is a one-stop solution for students seeking Historically Black Colleges and Universities merit-based scholarship information and free degree resources.
Dofat, who has lived in Baltimore since 2018, is a first-generation college student who has worked in college counseling for more than 20 years. Her goal is to help students and families avoid student loan debt and open doors to college options that some did not know were possible.
“During the pandemic, in the wake of mounting student-loan debt for millions of Americans, renewed philanthropic interest in HBCUs, and students of color seeking culturally safe spaces to learn, something clicked for me and I decided to be a part of the solution,” Dofat said.
Dofat said the accelerator put her in the position to take a critical look at her business, guided her to provide additional products and services and ultimately create a more well-rounded company.
“The Baltipreneurs program exceeded all my expectations,” Dofat said. “I have never felt so supported.”
While Mount St. Mary’s is the first university in Maryland to offer a bachelor of science in entrepreneurship, students in all majors have access to resources within the Palmieri Center for Entrepreneurship, made possible through a $1 million donation from alumni Paul and Diane Palmieri.
“The Palmieri family valued their MSMU educations, but also wanted to demonstrate that entrepreneurial thought and mindset can perfectly integrate with the liberal arts tradition,” said Garth Patterson, director of the Palmieri Center. “By offering a different avenue for students to engage, it was expected that the entrepreneurship program could provide an opportunity for students that had good ideas and were willing to work towards realizing their own aspirations.”
Thunlwyn Garcia, an entrepreneurship major who will graduate in May, is currently working to build his first venture, Ascent Sporting Innovations.
As a forward on Mount St. Mary’s soccer team, Garcia and his teammate Anthony Milazzo saw their performance decline in winter months. That is where the idea of a new shoe insert that could provide thermoregulation to relieve foot pain was born.
“I noticed that there were no immediate solutions in the market,” said Garcia, a graduate of Archbishop Curley High School in Baltimore. “I then began the journey of developing my product to address all weather conditions and consumers past the athletic market. We want our product to impact other markets, such as health care, hunting, hiking and government agencies.”
Garcia and his team, which includes Patterson as a mentor and Mount alumni who serve on the Ascent board of directors, are currently working to secure a patent for their footwear technology and on further developing the product.
“I feel blessed to have the support of the entire Mount community, students, teachers and alumni,” Garcia said. “This venture is an example of what happens when the community pulls together for a single vision.”
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