TEDCO’s Builder Fund invests $450K in eight start-ups
Pre-seed companies come from various industry sectors
COLUMBIA, Md. (July 6, 2020)—TEDCO, Maryland’s economic engine for technology companies, announced today its Pre-Seed Builder Fund invests $450,000 in eight (8) companies. These companies represent various industry sectors from medical devices to B2B SaaS providers.
“The Builder Fund investments demonstrates our focus on investing in companies where our support can have a consequential impact on a companies ability to grow in industry sectors that are critical to Maryland’s economic development,” said Linda Singh, interim executive director/CEO of TEDCO.
TEDCO’s Builder Fund was created to financially and operationally support the development of startup companies run by entrepreneurs who demonstrate a socially or economically disadvantaged background that hinders access to traditional forms of capital and executive networks at the pre-seed stage. Companies selected for the Builder Fund qualify for investment and/or executive support to better position the company to receive follow-on, professional investment.
The Builder Fund’s FY2020 cohort includes:
- CarrTech, of Frederick County, is developing a novel filter needle, designed as a single assembly containing both the filter and the needle. ($50K)
- ClearMask, of Baltimore City, produces and sells FDA-approved fully transparent medical face masks. ($100K)
- Emergency Medical Innovation, of Howard County, is developing a patented nosebleed treatment device. ($50K)
- IPGen, of Prince George’s County, is developing a patented software service which predicts whether a claim will be allowed or rejected by an examiner at the patent office. ($50K)
- JuneBrain, of Montgomery County, is developing a wearable headset which is aimed at allowing neurologists to remotely track Multiple Sclerosis (MS) flare-ups and patient responses to treatment between clinical visits. ($50K)
- PediaMetrix, of Montgomery County, sells diagnostic software for assessing the occurance and degree of flat head syndrome as well as aiding in treatment and progress tracking. ($50K)
- PerSoN Clinic, of Montgomery County, is a comprehensive AI-supported virtual care platform that provides individualized treatment for cancer, depression and smoking addiction patients, and contextual data for researchers. ($50K)
- Pet Connect, of Montgomery County, provides business management software to pet service providers and a mobile marketplace for pet owners. ($50K)
The Builder Fund is unique in that it employs a next generation early-stage start-up development process. The program recruits established, senior executives to team up with companies to expand strategy and implementation capacity within the company. Builder Fund Team Executives work alongside companies to hit key milestones and help companies build sustainably.
For information on how to access TEDCO investment applications for Maryland tech start-ups, please visit https://www.tedcomd.com/funding.
TEDCO enhances economic development growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology companies in Maryland. Learn more at www.tedcomd.com.
Vice President for Marketing & Communications, TEDCO