A study commissioned by the Maryland Technology Development Corporation (TEDCO) determined that TEDCO “supports more than $565.9 million in economic contributions and more than 2,835 jobs” in Maryland each year.
Founded in 1998, TEDCO is a creation of the state’s General Assembly that uses taxpayer dollars to make investments in early-stage startups. It has made investments in 234 companies in that time, and often through its Technology Commercialization Fund.
The study was conducted by Battelle Technology Partnership Practice, and the full report can be accessed here.
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