TEDCO Fund Spotlight

TEDCO, Maryland’s economic engine for technology companies, announced the selection of 25 Maryland companies to participate in the 2024 Small Business Association (SBA) Federal and State Technology Partnership Program (FAST) SBIR/STTR Proposal Lab cohort. This program, now in its sixth year, supports companies in the cohort, allowing them to work closely with TEDCO experts on preparing polished proposals for up to $275,000 in federal awards through the SBIR/STTR Phase 1 program. 

39 scientists from Maryland-based research institutions and companies will be receiving awards from this round of funding to advance research addressing an array of medical conditions, including cancer, eye, heart, bone, blood, digestive, and central nervous system diseases. 

JuneBrain Inc., based in Baltimore, Md., is an organization looking to provide remote monitoring devices to help physicians and patients. Through the creation of a telehealth eye-scanning system, JuneBrain’s AI-based eye-scanning solution allows providers to identify and monitor disease activity in their patients without requiring appointments. Additionally, this method analyzes images, securely sends them to providers, and comes with a patient-centered app that allows for sharing symptoms and connecting with caregivers and providers.

TEDCO will receive up to $50 million and will allocate the funds into four existing programs targeting technology-based Maryland businesses and entrepreneurs through the State Small Business Credit Initiative (SSBCI). Targeted to communities and areas with small, micro, and Socially and Economically Disadvantaged Individual (SEDI) businesses. 

Mblue Labs releases the first sunscreen based on a recent study that found Methylene Blue, a century old medicine, to be a highly effective, broad-spectrum UV irradiation protector that absorbs UVA and UVB, repairs ROS (Free Radicals) and UV irradiation induced DNA damages, and is safe for coral reefs. 

TEDCO, Maryland’s economic engine for technology companies, announced its recent round of funding, including investments in 12 startup companies and funding to 36 university projects through the Maryland Innovation Initiative.
 

Hill Ritchie to oversee investments of up to $2M to qualifying Maryland entrepreneurs