Tammi Thomas

edtech

In today's tech-driven world, companies are creating and leveraging innovative "edtech" solutions to revolutionize education, offering personalized learning experiences. This transformative approach to teaching and learning is reshaping the educational landscape, fostering adaptability and catering to individual needs. For these edtech companies starting and growing in our state, the Maryland Technology Development Corporation (TEDCO) is a unique and prolific resource that was recently named by Pitchbook as the No. 5 top investor in the Mid-Atlantic region.

TEDCO was created to identify, invest in and grow early-stage technology startups in Maryland. After 25 years of leading innovation to market in this way, the organization offers an abundance of resources, opportunities and connections curated to uplift and empower Maryland’s entrepreneurial ecosystem.

“TEDCO is pleased to be a resource for the entrepreneurs and startups looking to grow this niche of the technology industry,” said Troy LeMaile-Stovall, TEDCO CEO. “According to Startup Savant, we are the No. 13 best venture capital firm in the nation investing in edtech. We do this by not only investing in companies but also by providing resources for businesses to scale and grow in Maryland.”

University Startups

Designed by university professors and experienced entrepreneurs, University Startups takes an inclusive and innovative approach to promoting an entrepreneurial mindset. Through their platform, the company provides tools to support career development, college preparation, internships and more for students.

“At TEDCO we understand the importance of creating a better future for students and underserved communities,” said Katherine Hill Ritchie, TEDCO’s senior director of Venture Funds. “We look forward to watching University Startups’ journey as they continue supporting the next generation of entrepreneurs.”

Escalate

Aiming to support frontline workers in their success and growth is key for TEDCO portfolio company Escalate. To support this mission, the company has developed an innovative proprietary support platform that provides employees with opportunities to learn and grow in their fields, and by extension supports the halt of what Escalate defines as a talent crisis.

“After finding that 76% of frontline employees leave their position during the first 120 days, Escalate committed to supporting frontline workers, improving the workforce and trying to halt this talent crisis,” said Jean-Luc Park, TEDCO’s senior director of Social Impact Funds. “With TEDCO’s investment, Escalate can continue working towards these goals, using technology to put people first while also supporting the growth of Maryland’s economic development.”
 

Legends of Learning


Striving to make classrooms more fun and accessible to all learners, Legends of Learning uses research to create a marketplace of curriculum-based games. The marketplace offers around 2,000 games that aim to support teachers and make classrooms more fun, productive and engaging.

“The innovative thinking of bringing games to classroom setting has potential to support learners of all ages,” said Hill Ritchie. “TEDCO’s investment in Legends of Learning could help them enhance their marketplace and promote more engagement and fun in classrooms.”


Allovue

Dedicated to building innovative solutions for maximizing student outcomes, Allovue’s team of educators, technologists, education finance experts and data specialists developed K-12 finance software and services to support organizational effectiveness. TEDCO awarded Allovue a $100,000 Seed Fund investment in 2013, and announced a successful exit of the portfolio company in 2024 when Allovue, Inc. was acquired by PowerSchool.

“We are happy to have connected with Allovue during the early stages of their journey,” said Teddy Gresser, director of TEDCO’s Seed Funds. “We encourage other early-stage technology and life science companies to reach out and explore the opportunities, resources, and support TEDCO offers to help identify different ways to encourage positive growth for businesses throughout Maryland.”


Continuing efforts

As the growth of the Maryland technology ecosystem continues, TEDCO’s support follows. With new, intentionally created programs like the Institute for Women Entrepreneur Excellence and the Cyber Maryland Program, additional funding opportunities through the State Small Business Credit Initiative (SSBCI), our investment funds and the Cultivate Maryland initiative, as well as supporting resources like the Rural and Urban Business Innovation Initiative and other Ecosystem and Entrepreneur Excellence (E3) programs, TEDCO is poised in a unique position to continue Maryland’s growth towards a technology hub.


Source: Baltimore Business Journal