Columbia, MD (June 7, 2010) – Social Growth Technologies, Inc., a company at The Center for Business and Technology Development’s NeoTech Incubator, recently captured the $15,000 prize in the 5th Annual Cupid’s Cup Business Competition hosted on May 7 by the University of Maryland’s Dingman Center for Entrepreneurship at the Robert H. Smith School of Business.

University of Maryland alumnus Kevin Plank, Founder and Chief Executive Officer of Under Armour Inc., started the competition to help empower private enterprises in the Maryland community. This year five semi-finalists, including Social Growth Technologies, Crooked Monkey, Delta Produce, Magaram Engineering, and 207 Lobster, made it to the entrepreneurial battle.

The five businesses competed for the chance to take home the Cup during their aggressive and intriguing six minute sales pitches.  It was a throw down of wits and courage to impress Plank and the rest of the judge’s panel, but the relentless NeoTech company, Social Growth Technologies, proved victorious in the end.

“For Kevin Plank and the other judges to share in our vision of our company was an affirmation that we may be on to something great," stated Paul Capriolo, CEO Social Growth Technologies, Inc. "NeoTech has been integral in providing us the support and flexibility we need so we can focus on growing our business."

“Watching Social Growth Technologies in action was not only exciting, it was a testimony to how their business model is changing the face of emerging businesses in our country,” stated Laurie Hedlund, NeoTech Director. “We are proud of Social Growth Technologies’ hard work and continued success.”

Social Growth Technologies is a leading social media startup that has transformed the business of generating revenue through social media applications and focuses on enhancing a user’s value and experience.

The young and innovative team of Social Growth Technologies introduced their flagship product, Social Ingot, this March and continues to drive forward with innovation and the ability create new transformative products for enhanced monetization of social networking environments.

About Social Growth Technologies, Inc.: Social Growth Technologies, Inc develops social media solutions for game developers to create richer and more profitable applications. Their flagship product, Social Ingot, allows developers to integrate advertisements deeper than ever before and directly into the user experience to maximize profit and enhance user experience.  For more information, visit them at:  www.socialgrowthtechnologies.com.

About NeoTech Incubator:  The NeoTech Incubator, a program of Howard County’s Center for Business and Technology Development, helps entrepreneurs develop thriving technology companies.  NeoTech accelerates the growth and success of emerging technology businesses through access to resources, information, and a community of excellence.  The NeoTech Incubator is a three-time winner of the National Business Incubation Association’s Innovation Award.  To learn more about the NeoTech Incubator and the Center for Business and Technology Development, visit www.thecenter.biz.

About The Center for Business and Technology Development: Founded in May 2000, The Center is dedicated to the discovery, stimulation, nurturing, growth, and success of entrepreneurship in Howard County. It has gained a reputation for providing valuable assistance to its clients and for creating innovative programs that foster entrepreneurship in the region. The Center provides assistance to approximately 1,000 entrepreneurs annually through its unique combined services platform.  A “one stop shop” for entrepreneurial services, The Center supports small and medium sized businesses through its Business Resource Center, NeoTech Incubator, and Howard Technology Council.  For more information about The Center for Business and Technology Development, visit www.thecenter.biz.

The Center for Business and Technology Development is part of the Howard County Economic Development Authority, a public-private partnership whose primary goal is to promote economic growth and stability by supporting existing businesses, targeting new businesses, and attracting corporate/regional headquarters. The Authority also maintains several programs aimed at the special needs of small, minority-owned, and agricultural business communities. Additionally, the Authority strives to preserve the distinctive quality of life in Howard County. The Authority can be reached at www.hceda.org.

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