About the Mission
Foster economic revitalization, entrepreneurship, innovation and job creation in Opportunity Zones (OZs) through world changing technologies.
The OZ Accelerator is an online resource for community stakeholders, entrepreneurs, businesses, universities, foundations, non-profits, public agencies and investors engaged with the OZ innovation ecosystem. An Opportunity Zone is an economically distressed community where private investments are eligible for reductions and elimination in capital gain taxes. Opportunity Zones were created under the 2017 Tax Cuts and Jobs Act. There are more than 8,760 designated Qualified Opportunity Zones located in all 50 States, the District of Columbia, and territories.
History
It all began with an idea that Opportunity Zones could be launching pads for innovation and entrepreneurial businesses. Geographic polarization of the innovation economy has risen to extreme levels according to a recent report by Brookings and ITIF. Over 90% of the employment gains in advanced technology industries between 2005 and 2017 were in five metro areas—Boston, San Francisco, Seattle, San Jose and San Diego. In contrast, the bottom 90% of metro areas (343 of them) lost employment share.
It is time for creative project teams, incubators, accelerator, impact investors, government agencies and economic development organizations to spread the innovation dynamic to everyone and everyplace. Oz's should not be Opportunity Deserts, trapped in underdevelopment.—they can and should become Innovation Zones. The latest IRS regulations and policy guidance have opened the door for Opportunity Zone investors to fund start-ups, operating businesses and public - private partnerships.
About the Founding Partners
The founding partners of the OZ Accelerator are building a community driven challenge process to improve the economy, infrastructure and lives of people in Opportunity Zones.
Mtech Ventures is a University of Maryland incubator for technology-based innovations commercialized at the university. Mtech Ventures helps early-stage startups survive the critical period in their development between conducting customer discovery and raising their first round of venture capital. The Mtech Ventures facility offers affordable space and hands-on mentoring for early stage companies. Companies involved in the program also benefit from the extensive facilities and services available from the University System of Maryland, one of the country’s largest public research and teaching systems.
The Association of University Research Parks (AURP), a global nonprofit, represents research parks, innovation district and communities of innovation in the U.S., Canada and around the world. Founded by the research park directors at Stanford University, Research Triangle Park, North Carolina, Texas A&M, RPI and others, AURP has grown to represent university research parks, federal labs, corporations and localities building communities of innovation in 42 states and 13 countries. AURP is working on a national Opportunity Zone Accelerator focused on the role of anchor institutions in OZs. AURP has its principal offices at the University of Arizona Tech Parks, Tucson, Az., and at its Washington, D.C.-area office at the University of Maryland Discovery District in College Park, Md.
The Center for Accelerating Innovation partners with businesses, universities, non-profits, and government agencies to accelerate innovation, entrepreneurship, industry clusters and sustainability. The Center has worked on solving complex policy, strategic and operational challenges associated with maintaining US technology leadership, competitiveness, talent, manufacturing and broadband at the federal, state and local levels. A special initiative is now underway to engage the US innovation ecosystem to play a larger role in revitalizing low-income, high poverty communities designated as Opportunity Zones.