Leading innovation to market is what TEDCO (Maryland Technology Development Corporation) does as Maryland’s leading source of funding for early-stage and technology-based businesses. Enhancing economic empowerment by fostering an inclusive entrepreneurial, innovative ecosystem by identifying, investing, and growing technology companies in Maryland. The organization’s latest program, the Urban Business Innovation Initiative (UBII), enhances economic empowerment by fostering an inclusive entrepreneurial, innovative ecosystem by identifying, investing, and growing technology companies in Maryland.

Hutch, alongside members of the growing entrepreneurial ecosystem, is working with TEDCO to provide high-level support to early-stage entrepreneurs by offering guidance in developing technologies for commercialization and general business assistance for the continuous growth of their businesses. 

“With our well-established Rural Business Innovation Initiative (RBII), we’ve seen many entrepreneurs benefit from the support of our mentors,” said Troy LeMaile-Stovall, TEDCO CEO. “Building off the RBII model, we wanted to expand our focus to the entrepreneurs in some of our key urban areas of the state. Through our venture growth advisors, we are able to develop more partnerships and connections from Maryland’s resources to its entrepreneurs and continue our focus of knitting together the state’s ecosystem for a more sustainable future.”

TEDCO has been pivotal in providing business assistance to entrepreneurs throughout the State of Maryland and fostering innovation through technology transfer and commercialization from the state’s universities and federal labs. The Urban Business Innovation Initiative (UBII) provides technical and business support to underserved early-stage companies in key urban areas. 

“We know how overwhelming it is in the early days of growing a business, and this initiative spearheaded by TEDCO is a wonderful example of the State’s ecosystem joining together to connect underrepresented communities to opportunities, resources, and expertise,” said Hutch Program Manager, Stephanie Chin. 

Each urban region has a dedicated, highly experienced Venture Growth Advisor who evaluates potential clients and provides mentoring as well as connections to support programs offered by TEDCO and our collaborative partners.

Supported sectors of the initiative include: Cybersecurity, Educational Software, Environmental Solutions, GovTech and Civic Solutions, Renewable, Energy, IoT Devices, Nanotechnology, Public Health and Safety, Social Impact, Software Developers, Transportation and Mobility, and Urban Farming. 

Hutch is dedicated to intentionally investing and supporting underrepresented entrepreneurs by providing them with a blueprint for building successful and impactful government digital services firms. This collaborative partnership will allow us to continue to advance modern digital services by providing each company a foundation of support needed to help grow their businesses without getting lost amongst bigger companies in the industry.

All start-up companies or interested collaborative partners who want to learn more or apply for the TEDCO Urban Business Innovation Initiative, visit: https://www.tedcomd.com/resources/urban-business-innovation-initiative.  

This announcement was published independently of the Urban Business Innovation Initiative. This release does not constitute or imply an endorsement by TEDCO or the United States Government of the product, process, service, producer, or provider. The views and opinions expressed in any referenced document do not necessarily state or reflect those of TEDCO or the United States Government.