These 3 cybersecurity startups got money from a new TEDCO fund - Technical.ly Baltimore

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Mar. 19, 2015 10:14 am

These 3 cybersecurity startups got money from a new TEDCO fund

They're the first companies to be awarded money from the Cybersecurity Investment Fund.
In his presentation at DreamIt’s demo day last year, Protenus founder Robert Lord talked about the growing threat of data breaches in healthcare.

In his presentation at DreamIt's demo day last year, Protenus founder Robert Lord talked about the growing threat of data breaches in healthcare.

(Screenshot via Ustream)

A trio of Baltimore-area startups each received $100,000 from a new TEDCO fund dedicated to cybersecurity.

The Cybersecurity Investment Fund, which was introduced this year, provides money to Maryland companies that are developing cybersecurity products or services. It is aiming to help the state become an “innovation hub of information security,” said Rob Rosenbaum, president and executive director of TEDCO.

“We are extremely pleased to have funded these companies and believe they have created very unique products,” Rosenbaum said in a statement. “With the financial support from CIF, are confident they can accelerate their development and commercial launch.”

Entrepreneurs interested in applying for the fund should contact TEDCO Program Manager Ron Kaese at rkaese@tedco.md.

The three companies are:

Protenus: Founded by two former Johns Hopkins med students, the DreamIt Health Baltimore alums make a system that secures health records.

“The funds are tied to further development of three additional analytical pipelines that we are currently testing,” writes cofounder Nick Culbertson. “We’re excited to further empower our team of data scientist and engineers in their efforts to protect patient privacy at Johns Hopkins.”

Strajillion: Based at Johns Hopkins’ FastForward incubator, the company makes a cloud-based management tool called RAKKOON that allows parents to track their children through devices and social media.

“We are proud to be the first company awarded the CIF investment, and the funds are being used to design and build our user interface,” CEO Scott Winn said via email. “Having the ‘TEDCO Seal of Approval’ that comes with the CIF investment has helped in our conversations with other investors, and has helped open doors for us in the investor community,” Winn said.

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Ridgeback Network Defense: Based out of the bwtech@UMBC incubator, the startup makes a “low maintenance” cybersecurity device that attaches to a company’s network to monitor threats.

Companies: Protenus, TEDCO
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