TEDCO has invested $1.1M in 14 startups since September 2012 - Technical.ly Baltimore

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Jul. 23, 2013 8:30 am

TEDCO has invested $1.1M in 14 startups since September 2012

Four of the startups are located in Baltimore city.
TEDCO CEO Rob Rosenbaum, left, presenting ICE awards in May 2013.

TEDCO CEO Rob Rosenbaum, left, presenting ICE awards in May 2013.

(Photo courtesy of TEDCO)

More than $1.1 million has been invested in 14 Maryland-based startups since September 2012 by the Maryland Technology Development Corporation, otherwise known by its acronym, TEDCO.

According to a press release, the exact amount invested through TEDCO’s Technology Commercialization Fund (TCF) in that time was $1,109,990.

View the list of 14 startups below.

For 15 years, TEDCO has been engaging in this sort of funding: created by the Maryland state legislature in 1998, the organization uses taxpayer dollars as investment funding for early-stage startups in an attempt to drive economic development and stimulate the commercialization of technology developed in universities throughout Maryland.

In an interview with Technically Baltimore last November, TEDCO president Rob Rosenbaum said that TEDCO intends to be the “leading source for early-stage, very high-risk capital in the entrepreneurial community.”

Of the startups TEDCO has invested in — 176 have received money through the Technology Commercialization Fund — Rosenbaum said 86 percent of them are still around.

The 14 companies that have received TCF funding since September 2012, from the press release:

  • Common Curriculum, located in Baltimore, is an instructional planning collaboration software system that allows teachers to build strong professional learning communities. Funding received: $100,000. (Read Technically Baltimore’s coverage of Common Curriculum.)
  • Diagnostic Biochips, Inc., located in Columbia, is developing a proprietary implantable biosensor technology that allows continuous monitoring of medically important biochemicals. Funding received: $100,000.
  • Firejack, Inc., located in Columbia, is building a new kind of software platform that’s focused on unifying the cloud, web, API and mobile enterprise. Funding received: $100,000.
  • Authentik Solutions LLC, located in Annapolis, was founded to bring to market innovative Biometric Systems that adapt to multiple locations and work sites. Funding received: $75,000.
  • Brain Sentry LLC, located in Bethesda, created a helmet-mounted sensor that detects impacts that could cause a concussion, helping to prevent injury or death. Funding received: $75,000. (Read Technically Baltimore’s coverage of Brain Sentry.)
  • Clear Guide Medical LLC, located in Baltimore, developed an ultrasound-guided needle intervention guide that can be used in various medical settings from needle biopsy to emergency medicine. Funding received: $75,000.
  • ConverGene LLC, located in Gaithersburg, is an early-stage biopharmaceutical company focused on discovering novel cancer drugs that target root regulatory mechanisms within cancer cells. Funding received: $75,000.
  • Cordex Systems LLC, located in Annapolis, has designed, manufactured and clinically tested a new cardiovascular diagnostic device, known as the Cordex EnDys System. Funding received: $75,000.
  • Pregmama LLC, located in Gaithersburg, is a female fertility company dedicated to significantly improving the ability of women in their late thirties to conceive healthy, full-term pregnancies. Funding received: $75,000.
  • SameGrain, Inc., located in Baltimore, is a social discovery platform that helps people privately locate, connect to and grow new friendships with people with similar backgrounds, interests and experiences. Funding received: $75,000.
  • TimberRock Energy Solutions, Inc., located in Frederick, is a veteran-owned company unique in its ability to develop and deploy both proprietary hardware and software technologies. Funding received: $75,000.
  • Vasoptic Medical, Inc., located in Columbia, is an early-stage company with a mission to advance healthcare through innovation in medical diagnostics. Funding received: $75,000.
  • Magpie Sensing LLC, located in Baltimore, is a healthcare analytics company that provides a suite of patent-pending monitoring technologies to improve pharmaceutical cold storage. Funding received: $74,990. (Read Technically Baltimore’s coverage of Magpie Sensing.)
  • Weinberg Medical Physics LLC, located in Bethesda, has built imaging systems used by more than 500,000 people worldwide to detect breast cancer and guide cancer surgery. Funding received: $60,000.

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