"Skills, not schools," an Equitech approach to hiring

In April, the unemployment rate in the Baltimore area hit 3.3%, the lowest it has been since December 2019. And Baltimore saw a 25% increase in tech-sector job postings in Q1 compared with last year.

The “help wanted” signs everywhere, online and IRL, are great news for workers – especially those whose talent has been overlooked. 

And, while it might feel like blasphemy during graduation season, one of the ways to tap a bigger talent pool is to eliminate degree requirements. As a writer on the LinkedIn Talent Blog framed it last year: “Skills, not schools. Performance, not pedigree. Results, not requirements.”  

Not only do companies find that they open doors to an entirely new base of potential employees, but they also see increases in underrepresented talent across the company, including in managerial roles. 

These are not new ideas in Baltimore. Baltimore Corps, Catalyte and the companies in the Baltimore Tracks consortium have been leading the country in inclusive, skills-based hiring models. Let's lean into this key Equitech strategy, to grow and foster the tech skills of Baltimoreans, lure diverse tech workers from other cities and build out a supportive community to retain that talent over the long term. We can do this.

 What's UP: Founders

• Started in a dorm room at Johns Hopkins, Techstars Equitech alum, EcoMap, announced today a $3.5M oversubscribed seed round! 🚀
• ShardSecure brought together Gula Tech Adventures and Grotech Ventures in its oversubscribed $11M Series A round. 
• Sports-betting startup SharpRank raised $2.5M -- so far -- in a seed round, while monetizing partnerships with Sports Illustrated and other media giants.
• How did Maryland land Greenland Technologies' first U.S. manufacturing site? We went "above and beyond." (But the CEO still hasn't had a crab cake?? 🦀) 
• Alloy Sports (formerly Fanalytics) is one of a dozen finalists vying for $180K in the prestigious New Venture Challenge at the University of Chicago.  
• The Arklyz Group, parent company of The Athlete's Foot, acquired Baltimore-based Shoe City and its sneaker and streetwear site, ycmc.com. 👟
• Crypto company OBM raised a $3M Series A round, and plans to lease space in Highlandtown as it grows this summer. 
• A look at the changing face of the medical cannabis industry in Maryland; plus, Curio Wellness launched an app to help patients explore products, ask questions, and personalize their experience. 
• emocha Health is positioning for growth 📈 with the appointment of four new executives, and Hunt A Killer welcomed a new CFO.    
• JHU students solve one of life's dilemmas; Tastee Tape keeps a burrito from falling apart. 🌯
• b.well Connected Health's Kristen Valdes was near the top of a recent list of the "Top 25 Women Leaders in Healthcare Software." 🏆
• A new center at Sheppard Pratt focused on a key chemical in psychoactive mushrooms 🍄 adds to Baltimore's research on psychedelics. 
• 📢 Founders, we still need your help! We're working with 21st Century Cities Initiative to understand diversity in Baltimore tech. Please take a few minutes to complete this anonymized, confidential survey.  

Want an intro to any of these companies? Send us a note!

What's UP: Funders

• New Enterprise Associates is busy! They led the $51M Series B round for Assembled, a workforce management platform and the $70M oversubscribed Series C round for Super, an Indonesian social commerce platform.
• Paladin Capital Group closed a $372M multi-stage fund 💰💰💰 that will deploy capital across high-priority cybersecurity and online safety sectors. 

What's UP: Friends

• The Aequo Fund is expanding to more cities, supporting minority developers in places like Charlotte, Chicago and Memphis as it plans to reach $10M.  
• Building the legacy: HHMI named a $1.5B scholarship fund for diverse early-career scientists for retiring UMBC President Freeman Hrabowski. 
• Congratulations 🎓🎉 to the 17 students graduating in the inaugural cohort of UMB's CURE Scholars program -- we can't wait to watch your next steps! 
• We love all six orgs Technical.ly chose as local tech networking spots and every one of the 20 ReaLIST Connectors for 2022... even if we're a little partial to the first on each list. 😊 

Heads UP: Opportunities

• 🔥 Black Tech Week announced the schedule for its upcoming conference on July 18-22, with 50+ tech influencers. Register here.
• General admissions deadline for VC Unlocked: Silicon Valley designed for angel investors or VCs is June 8. 
• 📣 Startup supporters: The deadline for the federal Build2Scale program is June 13 -- this is a big one! 
• The SBIR and STTR provide more than $4B annually in early-stage funding; learn more at next week's innovation conference in D.C. 
• Take a look 👀 at Techstars Rising Stars, a pre-seed fund investing in underrepresented founders of color in the U.S.

Heads UP: Events

• This month's Blue Tech Connect webinar is on a sustainable future at ports and harbors. 🚢 🐟 Register here for the June 16 event. 
• Develop and hone your presentation skills at this June 28 workshop at ETC. 

Rise UP: Learn

• Our city has a the 5th most veteran-owned businesses in the U.S. That's 7.3% of area businesses -- 3,766 companies employing nearly 54,000 people.
• Crunchbase finds female-funded startups in Maryland get just 8% of funding rounds and 7% of total funding invested. Time to do better. ⏱️
• Learning from the best: advice from the mentors of current Baltimore tech leaders. 

Catch UP: Media

• ✅ Check out six ways Maryland is leading innovation in connected and autonomous vehicles. 
• The founder of Wearable Tech Ventures weighs in on the forces supporting Black-owned tech companies -- and those still blocking progress. 
• ARPA funding, wastewater, and building trust in government: a conversation with City Administrator Chris Shorter. 
• And other city leaders are thinking about how tech can help with SMART policing in Baltimore. 

The UpShot is Baltimore’s Equitech ecosystem news, curated for startups, founders, funders and friends, all working together to build the country’s first Equitech City. ↗️↗️↗️