About Maryland Technology Development Corporation (TEDCO)
Maryland Technology Development Corporation (TEDCO) is a leading innovation-to-market organization that provides resources and connections to early-stage technology and life sciences companies in Maryland. TEDCO's mission is to foster the growth of innovative businesses in Maryland by providing funding, mentoring, networking opportunities, and other resources that help entrepreneurs turn their ideas into successful companies.
TEDCO was established in 1998 as an independent organization with a mandate to support the development of technology-based businesses in Maryland. Since then, it has become one of the most active venture capital firms in the state, investing over $1 billion in more than 500 companies across various industries.
One of TEDCO's core programs is its Seed Investment Fund (SIF), which provides early-stage funding to promising startups. The SIF invests up to $100,000 per company and requires matching funds from other investors. This program has been instrumental in helping many startups get off the ground and attract additional investment.
Another key program offered by TEDCO is its Entrepreneur-in-Residence (EIR) program. This program connects experienced entrepreneurs with early-stage companies to provide mentorship and guidance on business strategy, fundraising, product development, marketing, and other critical areas. The EIRs are seasoned professionals who have successfully launched or grown their own businesses and can offer valuable insights based on their own experiences.
In addition to these programs, TEDCO also offers a range of services designed to help startups navigate the complex landscape of starting a business. These include access to legal services through its Legal Advisory Board (LAB), assistance with intellectual property protection through its Intellectual Property Advisory Board (IPAB), access to market research data through its Market Intelligence Center (MIC), and more.
TEDCO also plays an important role in connecting entrepreneurs with potential investors through events like Venture Day and Innovation Showcase. These events bring together investors from around the region with promising startups looking for funding.
Overall, TEDCO has been instrumental in fostering innovation and entrepreneurship throughout Maryland by providing critical resources that early-stage companies need to succeed. Its commitment to supporting new businesses has helped create jobs across various industries while driving economic growth throughout the state.