COLUMBIA, Md. (May 25, 2022)—TEDCO, Maryland’s economic engine for technology companies, announced today it will receive up to $50 million from Governor Hogan’s small business relief plan that was approved for funding from the United States Treasury Department’s State Small Business Credit Initiative (SSBCI). TEDCO will allocate the funds into four existing programs targeting technology-based Maryland businesses and entrepreneurs.
“We want to express our thanks to our colleagues at DHCD for their leadership on getting us to this point,” said TEDCO CEO Troy LeMaile-Stovall. “And this point is about investing in individuals and communities that are underrepresented in our innovation ecosystem, while also creating additional funds for TEDCO to invest in firms that will start and scale in Maryland – generating a more equitable future.”