Stages:

• Early

 

Industries:

Communications & Networking

Information Technology

Life Sciences & Healthcare

Software & Internet

 

Description:

Maryland Technology Development Corporation (TEDCO) was created by the State legislature in 1998 to facilitate economic growth in the state. TEDCO Capital Partners (TCP) manages a family of specialized venture capital funds. Among many programs, TEDCO operates the Technology Commercialization Fund (TCF), which provides up to $100,000 to support projects that advance a technology toward commercialization. Another program, the University Technology Development Fund, provides grants of $50,000 to Universities, which are obliged to share revenues with TEDCO on intellectual property created or developed with a UTDF grant. A University must pay TEDCO 25% of all revenue received for rights to intellectual property developed with UTDF capital until it has repaid two times the UTDF funding provided. Another initiative, the Incubator Development Fund program, provides funding for capital expenditures in the development of new and the renovation of existing technology incubators in the state. The Chesapeake Regional Innovation Fund (CRIF) invests in early-stage companies which intend to create significant commercial enterprises based on potentially game-changing technologies developed at the region's federal research labs and major research universities. Their Maryland Venture Fund writes initial checks in the range of $500 thousand - $1.5 million. Investments have created over 12,000 jobs.