05/16/05

Baltimore Company's Software
Is Perfect Fit for Philly Incubator
Cybergroup Web Tool Improves Service for Entrepreneurs at Philly's Biz Center

Baltimore, Maryland (May 16, 2005) – One of Philadelphia's top incubators for growing tech firms has enhanced their operation thanks to a Baltimore IT firm's software that draws from its own incubator experience.

Internet technology firm Cybergroup, a graduate of the University of Maryland, Baltimore County 's techcenter@UMBC incubator, customized their incuTrack TM software for The Business Center, a top incubator located in Northwest Philadelphia. Cybergroup, a finalist in the 2004 Maryland Incubator Company of the Year Awards, has a clear understanding of startup companies' needs and the services and support necessary to help them flourish. 

incuTrack is an easy to use Web interface that helps manage administrative data, such as leases, business statistics, and real estate information needed to run an incubator. The software, a leader in the business incubation industry, allows managers to provide business assistance to their clients.

“The Business Center has a unique partnering and mentoring approach to their clients' business growth,” says Greg Bean, CEO of Cybergroup Inc. “We customized incuTrack to enhance the hands-on, collaborative approach of The Business Center's consultants as they work together with companies to establish, meet and track important milestones in business growth.”

“Cybergroup tailored incuTrack's features to enhance our unique role as a consultant and mentor in helping entrepreneurs grow their business,” said Pamela Rich-Wheeler, Executive Director, The Business Center. “As an incubator graduate, Cybergroup really understood our mission to help our startups improve their management and entrepreneurial skills.”

Maryland incubators are hosting the 19th annual National Business Incubation Association's (NBIA) International Conference on Business Incubation this month in Baltimore . The NBIA national conference offers a wealth of opportunities to learn about proven best practices and explore the latest trends in angel investing, assisting women entrepreneurs, working with bioscience companies, funding incubator programs and creating cross-border partnerships. techcenter@UMBC and The Business Center representatives are presenting at the Conference.

About Cybergroup: Cybergroup Inc. (www.cybergroup.com) is a provider of innovative Web based software products such as incuTrack TM . Cybergroup provides a comprehensive range of Internet, Intranet and website products and services with a primary focus on web to database integration utilizing Macromedia's ColdFusion. Cybergroup develops, sells, customizes and implements e-commerce store software, handheld (PDA) e-commerce solutions and website content publishing solutions.

About The Business Center : The Business Center at New Covenant Campus (www.thebizctr.com) is a non-profit incubator located in the Northwest section of Philadelphia which targets start-up and existing small businesses. The Business Center aids in the development of professional/managerial skills of small business owners, provides business services to aspiring and seasoned entrepreneurs, and improves access to capital via business plan competitions. More than 200 people have successfully completed The Business Center's entrepreneurship course over the last year.

About techcenter@UMBC: UMBC's technology incubator, founded in 1989, was expanded in 1996 when UMBC purchased the 30-acre five-building Lockheed Martin Research Lab facility site and renamed it techcenter@UMBC. Phase II is bwtech@UMBC, a 41-acre research and technology community. Over 35 firms reside at both locations. The firms have access to university expertise, students, technology, business resources, programs and facilities.

About NBIA Conference: Hosted by the Maryland Business Incubation Association, this year's NBIA national conference offers a wealth of opportunities to learn about proven best practices and explore the latest trends in angel investing, assisting women entrepreneurs, working with bioscience companies, funding incubator programs and creating cross-border partnerships.

Keynote speeches by Maryland Department of Business and Economic Development (DBED) secretary Aris Melissaratos, co-founder of the Prairie Angels Capital Fund/entrepreneur Barry Moltz, UMBC President Freeman Hrabowski and bwtech@UMBC executive director Ellen Hemmerly. Highlights include the 2005 NBIA Incubator of the Year Awards. For more information visit http://www.nbia.org/nbia_events/conf2005/index.php.