5 startups receive $1M in loans from Anne Arundel VOLT fund - Technical.ly Baltimore

Growth

Oct. 24, 2013 11:00 am

5 startups receive $1M in loans from Anne Arundel VOLT fund

One of the startups is from Baltimore city, and two others are based out of the bwtech@UMBC incubator.
Zuly Gonzalez and Beau Adkins of Light Point Security.

Zuly Gonzalez and Beau Adkins of Light Point Security.

(Photo via onenewspage.us)

Five startups, including one from Baltimore city and two based out of the bwtech@UMBC incubator, received more than $1 million from the VOLT Fund technology loan program administered by the Anne Arundel Economic Development Corporation.

Here are the five startups, from the press release announcing the funding:

  • cwist, Inc., of Annapolis, $200,000: cwist is a free digital library of learning activities for kids K-5th crowd-sourced from parents and educators, designed to help kids make a healthy connection between the things they want and the effort it takes to get them
  • Light Point Security, a member of the bwtech@UMBC Cyber Incubator, $250,000: Light Point Security protects businesses from malicious software spread through web browsers by moving the employee’s web browser into the cloud so none of the websites they visit ever touch their computers.
  • Milestone US, Inc., a company based in Clarksville, Md., $200,000: Milestone combines low cost sensors and big data tools to offer retailers a new method for targeted advertising.
  • SameGrain, Inc., a member of the Emerging Technology Center┬áin Baltimore city, $250,000: SameGrain is a privacy-first social discovery platform that helps people locate, connect with and grow new friendships with others that share similar backgrounds, interests, beliefs, concerns, habits and more.
  • Biomedica Management Corporation, a member of the bwtech@UMBC Life Sciences Incubator, $250,000: This research and development company is currently developing novel treatments in coagulopathy-related conditions with civilian and military applications.

To receive VOLT funding, each of the five startups had to demonstrate that they were at a stage in product development where they can expect to break even on revenues within two years.

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