Located in the heart of central Maryland, Howard County (HoCo) is comprised of innovative technology startups committed to advancing consumer services germane to their respective fields. Because of this, it is no surprise that TEDCO’s support and investments have touched several companies that call HoCo home.
TEDCO, Maryland’s economic engine for technology companies, is leading innovation to the market in Maryland through its various programs and investment funds. The organization’s role is to be the leading source of funding for early-stage, technology-based businesses throughout the state; to provide other business assistance to entrepreneurs throughout the State; and to foster technology transfer and commercialization from the State’s universities and Federal labs.
The organization’s recent investments in diverse businesses in HoCo are a testament to their commitment to promoting diversification, innovation and continued economic development success.
“Howard County is one of many sectors in Maryland leading the charge for innovation in technology and life sciences,” said TEDCO CEO, Troy LeMaile-Stovall. “Investing in propitious companies diversifies the entrepreneurial innovation ecosystem and resources for Maryland consumers, thereby supporting a more sustainable technology ecosystem.”
HoCo Technology Companies Advancing with TEDCO’s Support
Rendr, based in Ellicott City, Md., developed an app allowing users to leverage digital tools and eliminating the need for time-consuming hand-drawn floor plans while simultaneously providing more comprehensive data for consideration. TEDCO’s $300,000 State Small Business Credit Initiative (SSBCI) investment in Rendr came through TEDCO’s Seed Funds.
“We saw an opportunity to improve processes, merging contract work with technology to create more efficiency,” said A.J. Ballantine, founder and CEO of Rendr. “Thanks to TEDCO’s investment we can continue expanding our efforts, bringing more efficiency to home improvement and renovation projects.”
Aidar Health, Inc.
Aidar Health, Inc., based in Columbia, Md., is a health technology and digital medicine company working to provide innovative healthcare technologies powered by data science to support patients and providers. Through their products, Aidar Health aims to enhance patients' quality of life with chronic conditions while enabling positive health outcomes.
Teddy Gresser, director of Seed Funds at TEDCO shared, “With the support of TEDCO’s investment, Aidar Health can continue innovating, thereby supporting and growing the life sciences and technology ecosystems in Maryland.”
aBreak Music, based in Elkridge, Md., is an international, multi-genre artist discovery platform. Bruce Tyler, along with Partner, Jay Stevens, and additional diverse stakeholders, are some of the most experienced and connected executives in the history of music.
TEDCO’s Seed Funds investment of $200,000 into aBreak Music provides “opportunities for Maryland musicians looking to expand their reach,” said Teddy Gresser, director of TEDCO’s Seed Funds. “This expansion supports the growth and diversification of Maryland’s economy, allowing Maryland to be recognized on the map as a place for musicians. This is the type of impact TEDCO looks to support.”
Elite Gaming Live (EGL)
EGL, an organization based in Columbia, Md., is a STEM platform fostering educational opportunities through video games, allowing students to learn about different career opportunities in video game design as well as other related skills such as coding, computer programming and web development.
“Through EGL, we hope to support and encourage students in Grades 3 – 12 to hone their skills doing something they love—playing video games,” said Kerwin Rent, CEO and founder of Elite Gaming Live. “By doing so, children are not only having fun, but they’re improving themselves, creating a skill set that can set them up for a successful future...”
TEDCO’s $200,000 SSBCI investment into EGL serves as an asset to the company’s STEM research and products. This SSBCI investment came from TEDCO’s Social Impact Funds which invest in and provide executive support to Maryland-based technology companies run by entrepreneurs who demonstrate economic disadvantage.
Continuing Towards Innovation and Growth
These four companies are among an array of diverse technology companies committed to transforming their respective fields through innovative technologies, products and services. Through the support and advancement of these companies, TEDCO moves Maryland towards becoming a sustainable technology hub.
“We maintain our unwavering commitment to invest in technology and life science-based companies in hopes of attracting new entrepreneurs and growing sustainable businesses that serve as a catalyst for robust economic growth throughout the state of Maryland,” said TEDCO CEO, Troy LeMaile-Stovall.
In 2024, TEDCO will continue its mission to support more businesses, technological innovations and growth throughout Maryland. For more information about TEDCO’s investment opportunities, resources, and programs, visit tedcomd.com.
Source: The Business Monthly