New Online Tool will Benefit Maryland's Innovation Ecosystem
COLUMBIA, Md. (November 2, 2020)—TEDCO, Maryland’s economic engine for technology companies, announced today it has selected EcoMap Technologies, Inc. to develop an AI-enabled platform for gathering information about all of Maryland’s entrepreneurial resources and funding information in one place.
The State’s ecosystem is filled with various organizations, incubators, accelerators, investment funds, events, and other entities providing valuable support to entrepreneurs. These resources can be difficult to locate at times and, as a result, entrepreneurs can experience difficulty in locating the support they need.
In an effort to address this challenge, TEDCO (the Maryland Technology Development Corporation), the Maryland Department of Commerce and the University System of Maryland are collaborating to implement a new, comprehensive web-based solution that will aggregate tech development resource, asset, and support services information across thousands of websites relevant to our ecosystem. Users will be able to easily explore and locate reliable, up-to-date information on incubators, accelerators, grants and funding opportunities, events, mentoring, and more, based on their specific needs related to their stage of growth, industry sector, founder type, or type of business.
“Maryland’s small businesses are an invincible force, constantly needing to pivot and address the daily challenges entrepreneurs face,” said Troy LeMaile-Stovall, TEDCO’s CEO and executive director. “Our goal is make Maryland’s business resources more accessible to support our growing ecosystem, and continue to drive economic empowerment throughout the State.”
“Creating a one-stop shop for all of Maryland’s many resources helps better equip our entrepreneurs with the tools they need to start or run a business,” said Maryland Commerce Secretary Kelly M. Schulz. “Instead of spending time trying to track down potential funding options or looking for potential partners, this platform will enable entrepreneurs to focus more on doing what they do best.”
EcoMap Technologies is a Maryland-based, technology company that leverages AI in order to build robust and scalable databases of assets within entrepreneurial ecosystems. Its technology allows it to customize platforms for cities, states, and countries, and keep all information continually updated. Due to its advanced knowledge of Maryland’s entrepreneurial ecosystem and expertise in building similar platforms for Baltimore, Dallas, Birmingham, Ghana, and others, it was selected for creating the tool for this State-wide effort.
"The University System of Maryland places a high priority on new venture creation, retention and growth. This platform is essential for our startups and others we hope to support, to best locate the resources they require," said Claire Broido Johnson of the University of Maryland, Baltimore, managing director of the University System of Maryland's Momentum Fund.