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July 2023

The latest on innovation and entrepreneurship in Maryland

TEDCO Seed Funds Invest in Galen Robotics, Inc.

Galen Robotics, Inc. is a medical device company developing a surgical robotics platform. The innovative Galen Platform addresses a growing need for surgical robotics assistance in a diverse array of microsurgical procedures. By integrating with standard surgical instruments, the platform enhances stability and ergonomics, thereby improving surgical outcomes in narrow corridors and minimally invasive procedures. Read More

TEDCO Announces Investment into Astek Diagnostics

Astek Diagnostics, based in Baltimore, Md., is a business that is focused on creating a platform to determine antibiotic sensitivity. Through this venture, the company developed the Jiddu. This device is a cost-effective and efficient diagnostic platform that provides physicians with adequate accurate information to diagnose and treat urinary tract infections, finding any antibiotic susceptibility and preventing the use of ineffective or excessive antibiotics—a practice that can cause the creation of antibiotic resistant bacteria.  Read More

TEDCO Invests SSBCI Funds in Longeviti Neuro Solutions, LLC

Longeviti, based in Hunt Valley, Md., is focused on providing innovative solutions for complex brain surgeries, with the intention of allowing patients to return to anatomical normalcy while providing innovative functional neurotechnology. The customizable platform helps to enable both the functional requirements of the implant and the reconstructive requirements to be met. Read More

Maryland Business Spotlight: Elizabeth Clayborne, Founder & CEO of NasaClip

Dr. Clayborne developed a novel nosebleed device, NasaClip, as a resident and in 2015 was awarded the NSF I-Corps grant which helped to launch her company Emergency Medical Innovation, LLC. Learn More

Source: iHeartMedia

TEDCO Successfully Exits Portfolio Company, Blackpoint Cyber

In 2018, TEDCO invested $200,000 in Blackpoint to support the growth and development of the company whose goal is to provide effective, affordable real-time threat detection and response to organizations worldwide. This initial funding came from TEDCO’s Seed Funds.

Exits create impactful returns for startups and investors, as well as more broadly supporting a positive outlook for the entrepreneurial community. Read More

TEDCO Announces Recent Investment in Aidar Health, Inc.

Aidar Health, Inc., based in Columbia, Md., is a company working to provide innovative healthcare technologies powered by data science to support patients and providers. Through their products, Aidar Health aims to enhance patients' quality of life with chronic conditions while enabling positive health outcomes. One of these products, MouthLab, is a rapid health assessment device leveraging proprietary AI and machine learning algorithms. Read More

Making Strides In Brain Surgery Patient Care and Recovery

Jesse Christopher, CEO of Longeviti Neuro Solutions joined Good Morning Washington to discuss the innovative solutions for complex brain surgery that Longeviti has pioneered, with help from TEDCO, a Maryland-based venture capital leader. Learn More

Source: Good Morning Washington

TEDCO Announces an SSBCI Investment into Nanocrine

Nanocrine, based in Frederick, Md., is a business that seeks to create a more efficient process for studying living cells. The company has created surfaces that utilize techniques from the semiconductor industry and physical chemistry disciplines. By using these surfaces, scientists are able to take more precise measurements for quality control, ensuring reproducibility and standardization of starting points. Read More

TEDCO Invests SSBCI Funding into Hememics Biotechnologies, Inc.

Hememics Biotechnologies, Inc., based in Gaithersburg, Md., is using graphene monolayer biosensors to revolutionize point-of-care testing for viruses and environmental toxins. The HemBox™, a cellphone-sized reader and chip platform, allows users to test for multiple viruses and toxins from samples as diverse as soil, water, saliva and blood. Read More

Maryland Business Spotlight: James Buck, CEO of MEDCURA

Jim Buck, President, CEO & Director, leveraging 30 years of experience successfully developing and commercializing innovative medical technologies. Learn More

Source: iHeartMedia

TEDCO signs partnership intermediary agreement with the National Cancer Institute Technology Transfer Center

This agreement will codify the relationship between NCI and TEDCO, allowing the two organizations to help promote and foster more opportunities for Maryland’s life sciences community to work together with NCI on cooperative research. Read More

Maryland initiative contributes to the strong innovation culture at UMBC

Creativity is flourishing at UMBC, and not just in the STEM fields. MII projects are underway across departments – from life sciences, engineering and computer science researchers to education technology and music innovators. To date MII, has supported around 40 projects from UMBC alone, with nearly two dozen company formations. Read More

Source: Baltimore Business Journal

After 25 years, here’s a look at TEDCO’s far-reaching influence on growing the Maryland ecosystem

Current and past leaders Arti Santhanam, Troy LeMaile-Stovall and John Wasilisin discuss the innovation hub’s impact on uplifting entrepreneurs in various industries across the state — and its vision moving forward. Read More

Source: Technical.ly

New investment funds were pivotal in helping TEDCO grow tech companies

Rob Rosenbaum was an experienced investor in technology companies when he joined the Maryland Technology Development Corporation (TEDCO) in 2010 as its executive director. “I had spent most of my career in small and growing companies,” he recalled.

That experience proved to be crucial in his time as TEDCO’s third executive director, as he spearheaded the expansion of the economic development organization’s funding capabilities. Read More

Source: Washington Business Journal

The most effective actions these 8 orgs have taken toward DEI

Since 2020, many companies and organizations have made pledges and commitments related to diversity, equity and inclusion, although the effectiveness of these campaigns has varied widely.

Some of the most successful initiatives have been from groups that have established histories of investing in their tech and business ecosystems like universities, law firms, accelerator programs, economic development groups, coding bootcamps and corporate entities. Of course, these organizations’ DEI efforts didn’t begin in 2020, but the increased attention has added momentum to the cause. Learn about TEDCO's DEI efforts.

Source: Technical.ly

TEDCO has widened its reach in helping entrepreneurs

John Wasilisin thought the TEDCO could help more entrepreneurs when he became the interim executive director in 2009.

Having already seen the significant impact the organization was making since joining it two years previously as deputy director, he envisioned TEDCO helping to grow more businesses by expanding its programs. Read more

Source: Baltimore Business Journal

Read more and Watch here

TEDCO's Market Search is a resource to help entrepreneurs address the challenges of conducting market assessments. The goal is to improve the market assessment and opportunity analysis associated with the development of business plans and applications for TEDCO’s funding programs.

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IPGen’s IP SaaS platform is a free resource available to eligible entrepreneurs and start-up businesses to assist in navigating the patent process. 

IPGen provides guidance and assistance throughout the entire lifecycle of the patent process, including: searching, drafting, and prosecution. 

Learn More and Register

TEDCO is Hiring

Visit tedcomd.com/jobs to view our available positions.


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For more events, visit our Events Calendar.
Ecosystem News

Maryland ranks No. 2 in nation for successful minority entrepreneurs, study says

People on the Move: Theodore "Teddy" Gresser

Rockville's N5 Sensors raises funds to detect, and avoid, disasters like Canadian wildfires

Maryland startup Keep Company raises $800K to help its clients slow parent, caregiver attrition

Money Moves: Astek Diagnostics raised $2M for a medical device launch

Bethesda startup Keep Company raises $800K to help its clients slow parent, caregiver attrition

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The companies, resources, events, and programs in this newsletter are presented as a courtesy to help you navigate the various business support services established for and available to Maryland entrepreneurs.  

  • Entities and IndividualsWhile we recognize the accomplishments of businesses, non-profits and individuals connected to TEDCO, in sharing this news there is no intent to recommend or endorse any business, nonprofit, or individual for any purpose. TEDCO does not verify information in linked articles or press-releases. And, TEDCO does not necessarily share the views contained in any linked articles or press-releases. 
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