Maryland Technology Development Corporation (TEDCO)
5575 Sterrett Place, Suite 240
Maryland will become internationally recognized as one of the nation's premier 21st century locations for technology and technology-based economic development.
To foster the development of a technology economy that will create and sustain businesses throughout all regions in the State of Maryland.
Created by the State legislature in 1998, the Corporation is a "body politic and corporate" and is "constituted as a public instrumentality of the State." Governed by an 15-member Board, appointed by the Governor with advice and consent of the Senate, the Board is composed of leaders in the State's technology community and contains representatives from these sectors: private, university, non-profit, and public.
- To serve as the focal point for technology leadership in Maryland
- To enhance the transfer of technology from universities and federal laboratories to the private sector
- To foster the growth of innovative companies, in critical or high growth sectors
- To extend the benefits of technology to communities, companies, and citizens across all regions of the State
Technology Benchmarking and Development:
Benchmarking, Strategy Development, Awareness, and Business Development through Technology Application
www.marylandtedco.org - The gateway to Maryland's technology community. Through this network, housed at the Community of Science, members of Maryland's technology community can access up-to-date information about research expertise, available funding sources, and other research-related information from around the globe. Any organization worldwide can learn about the unique capabilities of Maryland's technology community.
net.work.Maryland - TEDCO is playing a key role in assessing current capacity for e-commerce throughout the State as it implements this initiative to create one Maryland through one high-speed network.
Task Force on High Speed Networking in Maryland
Maryland Technology - e-Maryland
Statewide Technology Strategy Development - Working with the Maryland Economic Development Commission and the Battelle Memorial Institute, TEDCO will assist in the development of a statewide strategy for technology development.
Through partnerships with State/University/Federal Labs Federal Laboratory Partnership Program - The Program is designed to increase the interest and activities between Maryland companies and Maryland's Federal labs. Cooperative Research and Development Agreements (CRADA) and Memorandum of Agreements (MOA) will be developed to allow TEDCO to fund short-term R&D and testing projects between the companies and labs. TEDCO will conduct activities to encourage the introduction of the capabilities and technical skills resident in Maryland's Federal labs to Maryland companies.
University Technology Development Fund - The fund is intended to support pre-commercial development by Universities of promising new inventions to improve the prospects for commercialization. Awards of up to $50,000 will be made to Universities for proposals that address the most significant hurdles to commercialization for a given technology, with milestones that would reduce the risk of failure and increase the value of the inventions. When Universities are successful in licensing technologies developed through the Fund, they will reimburse the Fund through a royalty sharing agreement.
TEDCO Ventures Fund - This is a partnership with Toucan Capital, Inc. to operate a seed stage venture capital fund focused on Maryland companies that partner with Universities and federal labs to develop technology-based products and services. The Maryland Dept. of Business and Economic Development (DBED) has invested $4 million in a Small Business Investment Company (SBIC) operated by Toucan Capital. DBED and TEDCO staff works in cooperation with the fund managers to identify promising partnerships in which to make seed stage equity investments.
Through Small Business Incubation Business Incubation Support Program - The goal of the Program is to promote the growth of technology companies in the State of Maryland through a high quality, customer-oriented, performance-driven, business incubation system. In FY2001, TEDCO is making an initial $500,000 commitment to this program, which is anticipated to be the first of three annual commitments. This program has been developed in collaboration with the managers of non-profit incubators in the State of Maryland, utilizing benchmarking studies by the National Business Incubation Association (NBIA) and the Staubach Company, with the guidance of a Business Incubation Technical Advisory Committee (TAC), and approved by TEDCO's Board of Directors. The three components of the program are: (1) Maryland Incubation Network, (2) Best Practices Incubator Demonstration, and (3) Incubator Tenant Support Initiative.
Last Updated 5-9-01
Maryland Technology Development Corporation