How 3 local orgs help founders and entrepreneurs secure funding

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Ask any startup founder and they’ll tell you funding is one of the biggest challenges they face.

Finding the right capital partners is only half the battle — then you actually have to convince them to invest in your idea. That’s why local groups dedicated to ecosystem development have resources not only for direct funding, but also for education, networking and confidence-building. Additionally, there are programs geared towards specific types of companies, depending on the org’s stage and industry and the founder’s background.

For some additional details, the following organizations shared with us how they help connect startups with funding. If you like what you see, follow the links to their Directory Pages to learn more and explore ways to connect.

TEDCO

TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. The organization identifies, invests in and helps grow technology and life science-based companies in Maryland.

“TEDCO uplifts companies of all sizes in Maryland — from those that are still ideas on the back of a napkin, up through Series A. We support founders and early-stage technology companies through our many programs that champion entrepreneurs on their journey to receive funding as well as through direct investment opportunities.

From the SBIR/STTR Proposal Lab to Prelude Pitch and Network Advisors, TEDCO’s programs were designed to enhance expansion toward investment readiness. Additionally, TEDCO offers funding opportunities from the Maryland Stem Cell Research Fund (MSCRF), the Maryland Innovation Initiative (MII), and our three investment Funds.

Our investment Funds include the Pre-Seed Social Impact Funds, dedicated to historically underrepresented founders, offering not only funding opportunities but also a community of collaboration; the Seed Funds target companies that are a little further along in traditional verticals like software but also have funds dedicated to strong Maryland interests such as our Life Science Investment Fund and Cybersecurity Investment Fund; and lastly, our Venture Funds are focused on companies that are more developed and typically raising Series A and up.

TEDCO is committed to remaining accessible to the ecosystem. As such, if founders are interested in learning more about our process, where their company may fit, or if they have questions about our process, we offer a monthly Investment Open Forum. This is a great opportunity to get questions answered directly from an investor, while networking with other founders in the ecosystem.” — Teddy Gresser, Director of Seed Funds

University City Science Center

The Science Center is Philadelphia’s premier catalyst of entrepreneurial activity, healthcare innovation and economic growth. Established in 1963, the nonprofit has been recognized by The Brookings Institution as a best-in-class investor, mentor and economic development partner for young technology companies.

“Raising a first institutional round of investment isn’t a simple endeavor, particularly for first-time founders. Success requires meticulous preparation and finesse to navigate complex discussions and earn the trust of already cautious investors. The Science Center’s Capital Readiness Program provides founders with valuable insights from corporate, legal and regulatory experts, alongside direct feedback from active investors. It challenges founders to adopt a CEO mindset and equips them with the tools and confidence required to engage in sophisticated and productive conversations with investors.” — Kristen Fitch, senior director of marketing

University of Maryland BioPark

The University of Maryland, Baltimore BioPark offers a dynamic lab and office environment for life science companies, next-gen ventures, university spinouts, distinguished research organizations, cutting-edge clinical care and contemporary workforce training programs.

“Funding is such a critical piece of the puzzle for any startup or early-stage venture, but especially for life science and biotech. Locating in the University of Maryland BioPark opens companies up to unique investment initiatives, including the Maryland Momentum Fund, the Wexford SciTech Venture Fund and UM Ventures, Baltimore funding. We also offer specifically designed programs and events in the BioPark that work to nurture business relationships for tenant companies with the investment community. Several of our companies have been able to take advantage of some or all of these opportunities, including KaloCyte, Irazú Oncology, NextStep Robotics, ARMR Systems and Gliknik.

In addition to direct investment, programs such as the Baltimore Fund, provide financial support for space and staffing. When our new 4MLK building opens this fall, the Baltimore Fund will help very early-stage entrepreneurs take up residence in Connect Labs Baltimore, a flexible, scale-in-place lab and innovation suite.

And then, of course, our team is always ready, willing and able to connect entrepreneurs with the people and companies throughout Maryland’s ecosystem that can help them get to that next step, whether it’s funding or something else.” — Jane Shaab, executive director, University of Maryland BioPark; associate vice president for economic development, University of Maryland, Baltimore

Seeking resources for your startup in your local tech community? Take a look at the Technical.ly Preferred Partners list, and check out other companies in the Technical.ly network here to find out about their missions, cultures and initiatives.

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