The UpShot: Here’s to the Allovue Team!

As humans, we have a tendency to focus on setbacks, on the fledgling macroeconomic conditions, the state of the world, and the seasonal affective disorder impacting our ability to be productive. But optimism is all around us, in the snow melting away, in the vigor with which Baltimore is making its bid for Phase 2 of the TechHubs designation, and in this new achievement for Allovue and the Baltimore tech community in general!

Allovue’s acquisition by PowerSchool enhancing its financial management tools for K-12 school districts is a big win for the team and the ecosystem! Allovue’s budget-tracking products will now be integrated into PowerSchool’s edtech suite. Motivated by the opportunity to assist schools in managing the end of federal Covid-19 stimulus funds, with Allovue’s tools aiding in navigating budget challenges, the acquisition aims to leverage Allovue’s growth in response to increased demand during the pandemic and to address upcoming crises in education. PowerSchool has a widespread presence, supporting over 50 million students globally and working with many large U.S. school districts. Allovue’s budget-tracking products will now be aiding over 90 of the top 100 school districts by student enrollment in the US.

Allovue’s CEO, Jess Gartner, will join PowerSchool as the group vice president of ERP. Last year, Jess had reflected on a decade of Allovue’s work, saying that Allovue’s vision is that every dollar in education works for every student. Now as a part of PowerSchool’s ed-tech suite, she believes their combined resources and partnership will meet the needs of education leaders and students better than Allovue could alone.

As a key player in our ecosystem, Allovue has been one of the first success stories out of ETC’s Accelerate Baltimore program! We are excited to see what this means for Ed-Tech and the Baltimore Ed-Tech community!

What’s UP: Founders

• Congratulations to Coordle and Escalate on being selected as finalists and Fem Equity as an alternate for SXSW Pitch Competition!
• EcoMap Technologies just welcomed Smitha Gopal as its new COO!
• Baltimore couple founded Meat the Mushroom debuted its vegan bacon, Shroomacon, on Shark Tank!
• Figure 53’s QLab provides a way for venues to design and automate features like sound, video and projection in live shows. This will be used at The Voxel for Katie Hileman’s “I Will Eat You Alive,” through February!

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

What’s UP: Funders

• Latimer Ventures launched a national mini-accelerator aimed at Black and Latinx founders called Latimer House. Founders, apply today!
• TEDCO recently announced investments of (i) $300K in Rendr, and (ii) $200K in PediaMetrix.

What’s UP: Friends

• Congratulations to B.Org for celebrating 10 years of preparing youth to build the future and its new collaboration with JHU’s Whiting School of Engineering’s Inclusive Innovation Initiative (i3).
• Arti Santhanam will be joining Emerging Technology Center as its executive director starting February 1. Congratulations to Arti and the ETC team!

Heads UP: Opportunities

• Here’s your chance to swim with the Sharks! The Shark Tank Casting team is holding an open call in NYC on May 10 at the TechDay Expo.
• Black Girl Ventures, in partnership with the NBA Foundation, is bringing Pull Up & Pitch to Washington, D.C. on Feb 3. Register here!
• Apply for the SBA Growth Accelerator Fund Competition for the chance to win $50,000 to $200,000 in prize awards for ecosystem-building activities.
• Apply to Maryland Innovation Lab where corporations will match with global startups in a 10-month accelerator! The theme for the first cohort is sustainable food systems, learn more about categories here.
• Apply to the Unshackled Ventures Residency Program by Mar 1. Unshackled will invest $150,000 for 10% and provide full immigration support, including visa sponsorship.
• The Cadence Cash Thrive Grant is a quarterly program aimed at supporting small businesses that contribute positively to their communities. Apply here for their next grant cohort!
• Are you a minority or female tech founder? Apply now to Lightship Accelerator, a 12-week program driving inclusive acceleration, education, and opportunity.
• HBCU Founder Initiative is accepting applications for its Spring 2024 Pre-Accelerator. Apply here!

Heads UP: Events

• Ideas on Tap: Pitch Practice Social is in DC on Feb 1! Get feedback on your pitch from a panel of experts, connect with a casting advisor from Shark Tank (!) and a chance to win exclusive access to Diageo execs!
• Join Decisive Point and a16z‘s American Dynamism team for a dynamic morning in NYC, discussing the latest in Defense, Deep Tech, and National Security over coffee and donuts. RSVP here!

Rise UP: Learn

• Learn more about why only 0.001% of SaaS businesses make it to $50M in ARR!
• Fundraising 101: How to optimize your investor outreach!
• Is Product-Led-Growth the right Go-To-Market Strategy for your startup? This article poses 3 questions to ask.
• Kareem Amin, CEO of Clay dives into a three-step formula for finding product-market fit, and why founder psychology is an underrated factor in the success of a startup.
• These are the top 10 FinTech Accelerators and Incubators according to FinTech magazine.
• Read about why having a corporate investor increases the chance of survival for a startup!
• Listen in to Carolyn Kwon, Director at Moderne Ventures, as she discuss trends and challenges in VC funding for proptech startups.
• Aileen Lee coined the term ‘unicorn.’ Click here to read what she thinks about billion-dollar startups, 10 years later!
• Check out these 24 Business Grants for female founders in 2024!
• From the maturing AI market to the workforce’s new normal, learn more about M13’s predictions for 2024!

Catch UP: Media

• While the Ravens saw an upset this Sunday, Swifties got to see Taylor Swift in the flesh 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. ↗️↗️↗️

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