Baltimore Homecoming, an organization mobilizing a network of Baltimore’s most accomplished natives and alumni from around the world to invest in and support the city and its communities, announced the launch of the application round for its Crab Tank Entrepreneurship Program sponsored by M&T Bank. Applications open today, May 22, and close June 19, 2024.
“Baltimore Homecoming looks forward to this launch every year, which helps drive attention to Baltimore’s growing startup and technology ecosystem to amplify and support the innovative entrepreneurs who call Baltimore home,” said Mandy Snyder, Baltimore Homecoming’s executive director.
The Crab Tank program launched in 2019 to expand and uplift small to medium-sized businesses by allowing Baltimore innovators to showcase their work, passion and potential in front of some of Baltimore’s most valued alumni. The program, sponsored by M&T Bank, allows local business owners to compete for a $25,000 grand prize and a $2,500 people’s choice award.
Baltimore Homecoming is accepting applications from businesses through June 19, 2024. A committee comprised of M&T Bank staff, past Crab Tank entrepreneurs, and leaders in the technology, entrepreneurship and finance industries, will select 10 applicants for the Baltimore community to vote on. The top five entrepreneurs from the vote will then pitch their companies to an audience and panel of business expert judges during Baltimore Homecoming’s signature event in 2025. Crab Tank winners will be chosen at the event.
“We are proud to continue our sponsorship of Baltimore Homecoming’s Crab Tank, celebrating the ingenuity and tenacity of local entrepreneurs,” said Augie Chiasera, M&T Bank’s president for Greater Baltimore. “It is a privilege to support this program. Now in its fourth year, Crab Tank provides business owners in our community with an essential network of resources to help them thrive and make a lasting impact.”
Crab Tank is one of two signature Baltimore Homecoming community engagement programs. Throughout the program, Baltimore Homecoming helps alleviate the barriers to success that many businesses face. We support Crab Tank entrepreneurs’ mission and vision by pairing them with coaching resources, producing videos and other shareable content, and fostering one-on-one relationships between entrepreneurs and alumni. Those that are selected as Crab Tank entrepreneurs will join a network of Baltimore business leaders and gain access to the homegrown expertise of Baltimore Homecoming’s alumni and community partners.
“Baltimore Homecoming’s 2023 Crab Tank pitch competition came at a crucial point for our business. The prize money and support following the event allowed us to handle an increase in sales from new distributors and store expansion,” said Matthew Featherstone, founder of Hiatus Cheesecake, a Baltimore-based wholesale cheesecake manufacturing company and 2023 Crab Tank winner. “We’re grateful and consider it a blessing, allowing us to find our footing and stable growth as a business.”
Past Crab Tank winners include Hiatus Cheesecake; WhitePaws RunMitts, a Black-owned outdoor gear company sold in REI Co-op stores that was founded by an avid runner to encourage individuals to stay active during the winter months; and Femly, a company providing healthier period care products and education through partnerships and bathroom dispensers. Learn about each of the past Crab Tank winners here.
Businesses interested in applying to participate in Baltimore Homecoming’s Crab Tank Entrepreneurship Program are encouraged to complete the online application here.
About Baltimore Homecoming, Inc.
Baltimore Homecoming, Inc. is a 501(c)3 nonprofit organization designed to connect Baltimoreans from across the world with the city’s leaders and innovators to spark new collaborations and drive new investments in Baltimore’s future. Founded by Nate Loewentheil and JM Schapiro, Baltimore Homecoming engages the professional community through its board of directors which includes Loewentheil, Schapiro, Rachel Bendit; Jack Bisciotti of Pointfield Partners; Michael Chesser, chairman emeritus of Great Plains Energy; Michael Fader, president of MileOne Holdings; Josepha Hendler; Dr. Charles Johnson-Bey, senior vice president of Booz Allen Hamilton; Arion Long, founder and CEO of Femly; Anthony Moag, chief operating officer of Whiting-Turner Contracting Company; Chip Wendler, former vice president of strategic distribution initiatives at T. Rowe Price; and Brittany Young, founder and CEO of B-360. More information is available atbaltimorehomecoming.com.
About M&T Bank
M&T is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
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