Seed and Early-Stage Funding
Maryland Venture Fund
from the Maryland Technology Economic Development Corporation (TEDCO)
- Helps fund and grow the next generation of outstanding early-stage technology-based businesses in Maryland.
- To be eligible, companies must have:
- Headquarters in Maryland where at least 50% of employees work;
- Less than 30 employees;
- Begun operations within 7 years of application date; and
- Received less than $30,000,000 in funding (not including TEDCO funding or grants).
- Investments can range from $500K to $1.5M.
- For more information, email Katherine Hill Ritchie at khillritchie@tedcomd.com.
Seed Investment Funds
from the Maryland Technology Economic Development Corporation (TEDCO)
- Family of four funds each investing in early-stage technology companies developing innovative, technology-based products that show a strong potential for growth and economic impact in Maryland.
- Cybersecurity Investment Fund – Invests in cybersecurity and information technology companies.
- Life Sciences Investment Fund – Invests in companies in the process of developing a technology for a product for human health that requires FDA approval prior to market.
- Technology Commercialization Fund – Invests broadly in early-stage technology companies.
- Gap Investment Fund – Invests broadly in early-stage technology companies that have secured outside funding in the past but need a financing bridge to position themselves for an institutional round of venture capital within 12-24 months (e.g. Series A). Companies must obtain a dollar-for-dollar match of investment funds from non-governmental sources and use the proceeds from the TEDCO investment only for new hires in Maryland.
- To be eligible, companies must have:
- Headquarters in Maryland where at least 50% of employees work;
- Less than 15 employees (30 for Gap Investment Fund); and
- Not raised more than $2,500,000 ($5,000,000 for Gap Investment Fund) in dilutive funding (not including TEDCO’s investment).
- Investments can range from $100K to $500k.
- For more information, email seed@tedcomd.com or contact Teddy Gresser at tgresser@tedcomd.com.
Maryland Defense Technology Commercialization (DefTech)
from the Maryland Technology Economic Development Corporation (TEDCO)
- Joint initiative between TEDCO, the Maryland Department of Commerce, and the U.S. Department of Defense that connects businesses to the federal labs in Maryland for product development, testing, IP licensing, and more to help businesses bring their innovation to market faster.
- DefTech membership is highly competitive, with limited membership each year, with a focus on high technology and bio innovation sectors. Members Services include:
- DefTech Academy & Certification
- Pre-Lab Engagement Training
- Access Federal Funding Opportunities
- Private DoD Lab Engagements
- Private Office Hours
- Accepted applicants go into one of two categories:
- Resource-ready for immediate Federal engagement and commencement of DefTech services.
- Preliminary training followed by the commencement of DefTech services.
Social Impact Fund
from the Maryland Technology Economic Development Corporation (TEDCO)
- Designed to engage and invest in economically underserved founders and communities to help ultimately become sustainable enterprises
- Includes Pre-seed Builder Fund and Inclusion Fund.
- For more information, contact Jean Luc Park at jpark@tedcomd.com.
- Maryland-based angel investment group that provides funding to innovative early-stage companies primarily companies in the Mid-Atlantic region addressing significant market opportunity.
- Investments range from $100,000 to $250,000 and the group will often participate in syndicates with other angel groups and VC’s for deals up to $2,000,000.
Maryland Industrial Partnerships Program (MIPS)
from the Maryland Technology Enterprise Institute
- Provides funding, matched by participating companies, to help companies leverage the facilities, resources, and expertise within Maryland’s public universities develop and commercialize new technology products and opportunities.
- Maximum award for any single project is $100,000 per year for large and small companies and $90,000 for start-up firms.
- For more information, call (301) 405-3891.
Chesapeake Bay Seed Capital Fund
from the Maryland Technology Enterprise Institute
- Supports early-stage startup companies developing innovative technologies that aid in the restoration of the Chesapeake Bay.
- Initial investment is up to $150,000; follow-on investment(s) of up to $300,000 may be available.
- For more information, email Scott Christensen at schris14@umd.edu.
Other Resources
- Maryland Entrepreneur Resource List from TEDCO
- Provides a list of state, educational, and other resources designed to support early-stage companies and their entrepreneurial leaders.
- Resource opportunities include tools, best practices, and supportive organizations that help entrepreneurs create, launch, and scale startups, access business incubators, develop their workforce, market their enterprises, create investment pitches, network with others, and so much more.
- List of Regional Venture Capital Firms
- Gust
- Funding platform providing entrepreneurs the tools to manage the startup process from pitch to exit.