TEDCO to increase TCF Fund awards

Before handing out the annual ICE Awards on Thursday morning, TEDCO President Rob Rosenbaum detailed some new startup funding that will be available through the state-backed tech organization.
According to Rosenbaum, TEDCO’s Technology Commercialization Fund will be equipped to make awards of $225,000, with the money available over a 24-month period. That’s a $125,000 increase over the current awards offered to tech companies.
Gov. Larry Hogan is expected to formally announce the new funding next week, Rosenbaum said.
TCF is designed as a seed funding program for Maryland companies. To qualify for the TCF Fund, companies must be affiliated with a state research university, an incubator program or receive mentorship from a TEDCO program. Applications are due on the 1st of each month, and the review process typically takes 60 days.