Out of 260 startups that applied, 41 have advanced to the next round in the second InvestMaryland Challenge.
As Technical.ly Baltimore reported, the business competition for early-stage startups from Maryland and the U.S. will award four grand prizes of $100,000 to four startups competing in four categories: cybersecurity, general industry, IT hardware and software, and life sciences.
All startups that applied employ less than 25 people and have annual revenue less than $1 million. Twelve of the 41 startups are based in Baltimore city.
The inaugural InvestMaryland Challenge in 2013 produced three winners, as Technical.ly Baltimore reported.