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The Chesapeake Innovation Center and the Maryland Department of Business and Economic Development Announce an Increase in the Defend America Challenge Grand Prize ANNAPOLIS, MD (September 15, 2006) - - - The Chesapeake Innovation Center (CIC) is excited to announce that the Maryland Department of Business and Economic Development (DBED) has offered to double the size of the grand prize of the Defend America Challenge. DBED's contribution brings the cash grand prize to $50,000. In recognizing the five year anniversary of 9/11, the Chesapeake Innovation Center (CIC), America 's first business accelerator for homeland and national security, issued a call for companies with innovative technology as it kicks off the first Defend America Challenge. The competition is open to companies with a product or service specializing in the homeland or national security field. “Maryland has a wealth of cutting-edge technology being developed in the critical areas of homeland and national security,” said Governor Robert L. Ehrlich, Jr. “By increasing the grand prize and challenging Maryland's best and brightest to develop innovative technology that will ultimately serve to defend our nation, the Defend America Challenge is helping to ensure Maryland continues to achieve technology dominance.” Within hours of the initial Defend America Challenge announcement, the CIC received its first submission. The selection committee, comprised of high level business, government and venture capital leaders will review business plans and select the winners based upon innovation in technology and viability of the business. "Shortly after our initial Defend America Challenge announcement, the response from the business community was enormous. The Department of Business and Economic Development too recognized the opportunities and wanted to play more of a role in the Challenge," said Laura Neuman, Interim Executive Director for the CIC. “We are so proud to have DBED participate at this level and we're excited to provide these entrepreneurs with not just connections to CIC's high-level partners but a financial award for their innovation." The CIC is unique and the Defend America Challenge further distinguishes this business accelerator as one of the most successful in the Country. "The Maryland Department of Business and Economic Development is excited to be a part of the Defend America Challenge. DBED understands the importance of connecting entrepreneurs to CIC partners in an effort to implement innovative security technology,” said Christopher Foster, Deputy Secretary, Department of Business and Economic Development. “Our contribution to this Challenge demonstrates DBED's interest and support in the mission.” The judging of six semi-finalists will take place before a live audience on January 19, 2007. Cash and in-kind prizes, provided by contest sponsors, will be awarded to the winner and one runner-up. Business executive summaries can be submitted online at www.DefendAmericaChallenge.com . Challenge deadlines, rules and even guidelines for executive summaries information can also be found on the site. All executive summaries must be submitted on or before November 15, 2006. Twenty five companies will be invited to submit a full business plan by December 15 and finalists will be notified by December 31, 2006. The six finalists will present their plans to a distinguished panel of security and investment experts in front of a live audience on January 19, 2007. For further information please visit http://www.cic-tech.org or call Roger London at 410-224-2030. About Chesapeake Innovation Center (CIC) The Chesapeake Innovation Center , located in the "informatics corridor" of Anne Arundel County , Maryland , is a business accelerator that focuses the power of entrepreneurship on America 's national security requirements. By creating a bridge between major users of security technology and small companies at the forefront of innovation, the CIC, its partners and member companies are able to offer significant advancements in the areas of informatics, energy, physical and cyber security technologies. The CIC has partnerships strategic to America 's national security which include public and private sector entities. CIC identifies and screens early stage technology companies and connects those that match the criteria to a valuable network of industry leading partners in these sectors. Current partners include Northrop Grumman Corporation, ARINC, the National Security Agency and Athlone Global Security. Founding sponsors include DLA Piper and Sidus Group. CIC mentors member companies and assists them with customer contracts, funding, staffing, subject matter experts, clearances, government contracting issues, and office facilities. The CIC is the intersection of innovation, patriotism and capitalism.
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