MD TEDCO
Maryland
Description
TEDCO (Maryland Technology Development Corporation) is Maryland's economic engine for technology companies, providing comprehensive funding and support for startups and innovation across multiple stages. TEDCO offers seed investments, grants for university technology commercialization, SBIR/STTR matching funds, and various specialized programs focused on life sciences, cybersecurity, and social impact ventures.
For ZHC builders in Maryland or willing to establish operations there, TEDCO offers accessible non-dilutive and equity funding options with strong local ecosystem support, mentorship, and connections to follow-on investors.
Eligibility
Program Types
Seed Funds
- Equity investments for early-stage companies
- Companies showing promise of becoming venture fundable
- Maryland-based or willing to relocate
- Technology or life sciences focus
- Part of Maryland's State Small Business Credit Initiative (SSBCI)
Maryland Innovation Initiative (MII)
- Technology Assessment Phase: $130K (sole) or $180K (joint) for university faculty
- Company Formation Phase: Up to $300K for startups
- Must license technology from qualifying Maryland universities (JHU, Morgan State, UMD Baltimore/College Park/Baltimore County)
- Maryland-based startups only
SBIR/STTR Matching Funds
- Phase I: Up to $25K (25% of federal award)
- Phase II: Up to $75K (25% of federal award)
- Must have received federal SBIR/STTR award within 6 months
Requirements
- Maryland business entity or operations commitment
- Technology or innovation focus (software, biotech, medical devices, cybersecurity, clean tech)
- Scalable business model with high-growth potential
- Strong technical team and intellectual property position
ZHC-Specific Fit
✅ Excellent for:
- Maryland-based tech startups
- University spin-outs from Maryland institutions
- Early-stage companies needing validation funding
- Companies with federal SBIR/STTR awards
- Life sciences and biotech ventures
- Cybersecurity and software companies
❌ Poor fit if:
- No Maryland presence or unwilling to establish operations
- Outside technology/life sciences sectors
- Late-stage companies (Series A+)
- Lifestyle businesses without high-growth potential
Application Process
Application Process
Seed Funds
| Step | Timeline | Details |
|---|---|---|
| Submit application | Ongoing | Online application via TEDCO website |
| Email confirmation | Same day | Email investments@tedcomd.com after submission |
| Initial review | 2-4 weeks | Investment team evaluation |
| Due diligence | 4-8 weeks | Detailed company assessment |
| Investment committee | Monthly | Final approval decision |
| Term sheet | 1-2 weeks | Negotiation and agreement |
| Funding | 2-4 weeks | Capital deployment |
Maryland Innovation Initiative
| Step | Timeline | Details |
|---|---|---|
| Meet Site Miner | 30 days pre-app | Required consultation with university liaison |
| Submit application | Quarterly | Deadlines: Jan 15, Apr 15, Jul 15, Oct 15 |
| Technical review | 6-8 weeks | Expert panel evaluation |
| Board approval | 2-3 weeks | Final decision |
| Award notification | 1 week | Grant agreement |
| Project execution | 9 months (TA) | Milestone-based funding |
SBIR/STTR Matching
| Step | Timeline | Details |
|---|---|---|
| Apply online | Quarterly cycles | Within 6 months of federal award |
| Review | 4-6 weeks | Eligibility and merit assessment |
| Award | 2 weeks | Grant agreement |
Funding Details
- Seed Funds: Investment amounts vary, typically $250K-$500K, structured as convertible notes or equity
- MII Technology Assessment: $130K (single university) or $180K (joint)
- MII Company Formation: Up to $300K (convertible debt or revenue-based grant)
- SBIR/STTR Matching: 25% of federal award (max $25K Phase I, $75K Phase II)
Key Requirements
- Must familiarize with TEDCO investment regulations (COMAR 14.04.01-07)
- MII requires Site Miner approval letter
- Applications must be submitted online only
- Email/mail applications will not be considered
Contact
- Official Website
- Seed Funds - seed@tedcomd.com
- Maryland Innovation Initiative - MII@tedcomd.com
- SBIR/STTR Matching - sbir-ta@tedcomd.com
- General Inquiries: investments@tedcomd.com
- Location: Columbia, Maryland