COLUMBIA, MD – Nine Maryland technology companies have received $674,977 total in funding from The Maryland Technology Development Corporation (TEDCO).
We have watched Maryland jockey for position in the ranking of U.S. Biotech hubs, now and then exchanging places with North Carolina in the top five.
To date, 132 companies have received funding from MTTCF and completed their projects. With an investment of $7.9M these companies have gone on to receive downstream funding from angel and venture investors, federal awards and other resources exceeding $298 million.
Starups receiving funding
The latest companies receiving TEDCO funding are: Blue Torch Medical Technologies Inc.; Celek Pharmaceuticals, Chesapeake BioDiscovery Development 1,; Columbia Biosystems Inc.; CombiMab Inc.; FlexEl; Solar Fruits Biofuels; Therataxis; and ZGI Inc., each received approximately $75,000 from TEDCO’s Maryland Technology Transfer and Commercialization Fund (MTTCF).
The program is designed to foster greater collaboration between busiensses and Maryland universities and federal labs to bring technology into the marketplace.
“Early stage technology funding is crucial in this economic climate and the future of Maryland’s marketplace relies heavily on the advancement of sustainable innovations,” said Maryland Gov. O’Malley.
“TEDCO’s Maryland Technology Transfer and Commercialization Fund, and thecompanies that receive funding from the program, are essential in the development of our state’stechnology economy.”
Full details on the startups are available in the TEDCO press release at: www.marylandtedco.org
Related Stories:
- Maryland’s TEDCO wins national tech economic development award
- Maryland’s TEDCO ranks as #1 early-stage investor
- Maryland’s TEDCO invests $225,000 in two companies
- TEDCO invests more than $200K in three Maryland startups
- TEDCO invests second round in four Maryland tech firms
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