The Latest on Innovation &

Entrepreneurship in Maryland
July 2018

TEDCO'S RBI 2 PRE-SEED INVESTMENTS

TEDCO ’s Rural Business Innovation
Initiative (RBI 2 ) announced its latest
pre-seed investment in two rural-
based companies—Nanobiofab and
GOEFER. Both based in Frederick,
Md., Nanobiofab and GOEFER are
part of the non-profit business
incubator company, Frederick
Innovative Technology Center, Inc.
(FITCI).

Read Press Release

HopFlyt is the third rural-based

company to receive a $25,000
investment from TEDCO’s program—a
company that has developed an
aerodynamically advanced electric
vehicle. As recipients of
RBI 2investments, all three companies
will receive ongoing mentoring and
funding to continue their product
development into commercialization.

Read Press Release

“Thr
ough
this
prog
ram,
we’r
e
able
to
guid
e
Pictured from left to right) Chuck Ernst, RBI2 Mentor; Jarred Nicholls, Co-founder & CTO of GOEFER; com
Michael Herod, Founder & CEO of GOEFER; and Neil Davis, Director of Entrepreneurial Development pani
es to
com
merc
ializa
tion,
 while
provi
ding
ment
orshi
p
and
assis
tanc
e
ever
y
Pictured from left to right) Chuck Ernst, RBI2 Mentor; Dr. Xiaonao Liu, Founder & CEO of Nanobiofab; step
Dr. Ruoting Yang, Co-founder of Nanobiofab; and Neil Davis, Director of Entrepreneurial Development of
the
way,
”
said
Chu
ck
Erns
t,
RBI 2
ment
or.
“Co
mpa
nies
that
are
awar
ded
fundi
ng
throu
gh
RBI 2
are
drive
n by
som
e of
the
most
inno
vativ
e
lead
ers
in
the
state
, and
thes
e
two
com
pani
es
spec
ificall
y are
exe
mpla
ry
exa
mple
s of
the
entre
pren
euria
l
oppo
rtunit
ies
we
striv
e to
provi
de.”

Hop
Flyt
,
base
d in
Lusb
y,
Md.,
is
build
ing
the
Vent
uri—
an
aero
dyna
mica
lly
adva
nced
elect
ric
Verti
cal
Take
off
and
Land
ing
(eVT
OL)
vehi
cle
that
trans
ports
urba
n
com
mute
rs.
Usin
ga
cana
rd
style
desi
gn,
the
vehi
cle
redu
ces
trave
l
time
s,
impr
oves
trave
l
safet
y
and
elimi
nate
s
pollu
tion.

Nan
obio
fab
creat
es
wear
able
nano
-
mate
rial
base
d
tech
nolo
gies
usin
g
state
-of-
the-
art
cust
omiz
ed
inkje
t
printi
ng
nano
-
tech
niqu
es.
The
nano
-
mate
rials
and
bio-
prod
ucts
creat
ed
are
used
to
dete
ct
minu
te
mole
cule
s
emitt
ed
from
the
skin
for
real-
time
track
ing
of fat
cons
 umpt
ion
and
pote
ntial
dise
ase
diag
nosi
s.

GOEFER is developing plug load technology, which look like traditional

powerstrips or surge protectors, that wirelessly provide control, savings, and
energy insight to any plugged-in electronic device. They are driven by their
mission to be the easiest way to save electricity . And by combining expertise in
construction with big data processing and machine learning, GOEFER is the first
company to create an energy data marketplace."

What's Happening at TEDCO

MORGAN EICHENSEHR
Reporter, Baltimore Business Journal

Maryland Technology Development

Corp. is launching a
new fund that will offer early stage
investments of $50,000 to
startups that may be overlooked by
other funding organizations.

The new Pre-Seed Builder Fund will

build on and replace
a funding effort TEDCO piloted last
year that was specifically
aimed at helping African American-
owned startups get access
to early capital.

The Minority Business Pre-Seed Fund awarded

10 black-owned firms in its pilot year with about $40,000 each.
Stephen Auvil, senior vice president of technology transfer
and commercialization, said the state-backed investment
organization now wants to expand the scope of the pre-seed
fund, to include not only minority-owned companies but any
company that could face some social or economic disadvantage.
Angela Singleton, program manager of the pre-seed fund,
said there are several groups that face clear capital access
problems. As few as 1 percent of venture funding goes to
African American-owned or Hispanic-owned companies, she
said, or Hispanic companies, and less than 2.5 percent goes to
female-run companies. Read the full article here

TEDCO’s Maryland
Innovation Initiative
Supports Start-Ups
with $5.6 million in
Funding
TEDCO , Maryland’s
economic engine for
technology companies,
announced its recent
investments through
the Maryland Innovation Initiative (MII). With the latest round of funding,
MII’s funding count for FY18 includes 38 technology assessment grants and
seven start-up investments for a total of $5.56 million. True to its technology
agnostic funding history, this year the startups ranged from medical devices to
aeronautics and the sports industry.

Established in 2012, the MII program was created as a partnership between the
State of Maryland and five Maryland academic research institutions: University
of Maryland, College Park, University of Maryland, Baltimore County, University
of Maryland, Baltimore, Johns Hopkins University and Morgan State University.
The program’s mission is to accelerate promising technologies with significant
commercial potential to market while leveraging each partner University’s
strengths.

Read press release here

MARKET SEARCH DATABASES

The Market Search Advisory Services provided by TEDCO at three

locations are a resource to help entrepreneurs address the challenges
of conducting market assessments. More Information

TEDCO CEO GEORGE DAVIS RECOMMENDS: Measure

What Matters

In the fall of 1999, John Doerr met with the founders of a start-up whom
he'd just given $12.5 million, the biggest investment of his career. Larry
Page and Sergey Brin had amazing technology, entrepreneurial
energy, and sky-high ambitions, but no real business plan. For Google
to change the world (or even to survive), Page and Brin had to learn
how to make tough choices on priorities while keeping their team on
track. They'd have to know when to pull the plug on losing propositions,
to fail fast. And they needed timely, relevant data to track their
progress—to measure what mattered.
 NEED SOME TECHNOLOGY AND THE FASTER THE
BETTER?

So, you want to start or expand a business and even have a market
segment in mind; but why develop your own technology if you can
get what you need from the fruits of your taxpayer dollars. Yes, your
taxes fund the federal government.
Learn more
The here
Federal Labs do research and development and often come up
with technology that has both a government and a commercial use.
As an entrepreneur, why not look at what is available and see what
can help your business grow and grow faster?

PowerTen: Spend 10 Minutes

with Baltimore’s Most Dynamic
Innovation Leaders

July 19
Johns Hopkins Technology
Ventures

Spend an inspiring 10 minute

‘ideastorming’ session with the
Anchor Ventures PowerTen, the
most influential innovation leaders
in the greater Baltimore area –
build on an idea for your
company, bring your ideas for a
program topic, a product, a
system improvement or a better
way to grow our ecosystem.
Itinerary
4:30 PM: Welcoming Remarks
4:40 PM: George Davis TEDCO 2.0
5:00 PM - 6:00 PM: Ideastorming with
Influencers
5:00 PM - 7:00 PM: Networking

Learn more and register here

Mugs & Pitches

July 20
Hagerstown, MD

Join Entrepreneur Council of

Washington County & Technical
Innovation Center for the next Mugs &
Pitches event on July 20th in
Downtown Hagerstown.
'
Learn more here

MEDA 2018 Summer Conference

July 25
Town of Elkton

This conference theme is "Building

Strong Neighborhoods using
Economic & Community
Development Strategies"

Learn more here

2018 Expo & Symposium: Early Bird Expires July 2oth

October 30
The Hotel At The University of Maryland
Be apart of the primer entrepreneurship event in Maryland!Don't
forget about our early bird rate: $99 until July 20th! Hurry before
it expires.

Register Here

How a TEDCO portfolio company, Adaptive Phage Therapeutics, is

saving lives with bacteria-killing viruses

The Gaithersburg-based company is raising $5

million, ahead of a planned Series A round of at
least $30 million in the first quarter of 2019, to
bring a therapy for drug-resistant bacteria to
market as soon as possible.

Learn more here

Md. manufacturing startup, Xometry, acquires competitor and

raises $25 million, to include TEDCO’s Maryland Venture Fund
Gaithersburg manufacturing platform Xometry acquired a competitor and raised
$25 million, the startup announced Tuesday.

Learn more here

TEDCO has new funding and programming for underserved

founders

The Pre-Seed Builder Fund is

offering $50,000 in funding for early-
stage entrepreneurs in Maryland, as
well as eight months of formal
programming. The idea is to provide
both financial and operational support
for companies who are socially or
economically disadvantaged, and it
turn create more startups in the state
that receive follow-on funding and
ultimately achieve success.

Learn more here

TEDCO backs Kent County firm looking to make paving projects

cheaper

PaverGuide Inc. is the second growing company based in a rural part of the
state to receive funding through TEDCO's recently expanded Rural Business
Innovation Initiative. The first investment was awarded to a Queen Anne's
County herbal medicine business, Plum Dragon, in May.

Learn more here

TEDCO Initiative touts successful 2018 with eye on the future

TEDCO’s Maryland Innovation
Initiative funded seven startups and 38
technology assessment grants during
fiscal year 2018, the fifth year of a
program designed to increase startup
activity at Maryland’s universities as
the program saw its biggest success
yet.

The $5.6 million in funding last year

also came with the program’s biggest
success story to date — the
acquisition of Harpoon Medical by
Edwards Lifesciences Corp. in a $100
million deal that could end up being
worth up to $150 million.

Learn more here

Two Baltimore university-born startups move their tech closer to

market with fed funds

Cykloburn Technologies, born out of Morgan State University, has been

awarded a $225,000 Phase I grant.

Learn more here

TEDCO companies in the mix. Maryland companies raised $247M

in venture funding during the second quarter of 2018.

Investors pumped $247 million in VC funding into 23 Maryland companies

during the second quarter of 2018.

Learn more here

 BECOME A SPONSOR OR EXHIBITOR!
TEDCO’s Tech Entrepreneur
Expo & Stem Cell Symposium is
open to all entrepreneurs across
the region for a day of
inspiration, networking and
celebration. We invite you to
attend and participate in the
premier entrepreneurial event in
Maryland. In 2017, we drew
over 850 top tech
entrepreneurs, life science
experts, federal and state
economic officials, angel and
venture capital investors.

This year we plan to grow the expo into a bigger and better event, packing the
day with industry experts, pitch sessions, company exhibitors, and engaging
topics to keep you learning and inspired. Come join us for the day and be a
part of Maryland’s entrepreneurial ecosystem!

Learn More

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