TEDCO

TEDCO, the Maryland Technology Development Corporation, is an independent organization established by the State of Maryland to foster economic development through the commercialization of technology. Since its inception, TEDCO has played a pivotal role in supporting researchers, entrepreneurs, startups, and early-stage companies within Maryland's innovation ecosystem. Its core mission revolves around identifying promising technologies and providing the necessary capital and resources to help them grow, thereby creating jobs and attracting further investment into the state. TEDCO's unique position as a state-backed entity allows it to take on higher-risk, early-stage investments that might be overlooked by traditional venture capital firms, bridging critical funding gaps for nascent ventures.

TEDCO employs a multi-faceted investment strategy, deploying capital through various specialized funds and programs tailored to different stages of company development. These include the Maryland Innovation Initiative (MII), which focuses on commercializing university research, and several seed funds such as the Pre-Seed Fund, Seed Investment Fund, and the Cybersecurity Investment Fund. For more mature early-stage companies, the Maryland Venture Fund (MVF) provides larger capital injections, often co-investing with private sector partners. TEDCO's investment focus is broad but centered on technology sectors critical to Maryland's economy, including life sciences, cybersecurity, information technology, and advanced manufacturing, ensuring alignment with the state's strategic growth areas.

The organization's impact on Maryland's economy is substantial. Since 1998, TEDCO has invested more than $50 million directly into Maryland startups, a catalytic investment that has successfully leveraged over $1.5 billion in follow-on funding from private sources. This demonstrates TEDCO's effectiveness in de-risking early-stage companies and making them attractive to subsequent private capital. Furthermore, TEDCO has supported over 450 Maryland-based companies, contributing significantly to job creation and technological advancement within the state. Beyond funding, TEDCO provides invaluable mentorship, strategic guidance, and networking opportunities, integral components of its comprehensive support system for entrepreneurs.