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TEDCO pumps $1.7M into 17 startups

Cybersecurity, high-tech wood stoves, video games and blood transfusions.

It’s been a busy six months for the Maryland Technology Development Corp.

The state-created organization (known as TEDCO to you and me), which provides guidance and early-stage funding for startup companies in the state, awarded $1.7 million — $100,000 each — to 17 area companies through just two of its programs, the corporation announced this week.

That money, which will help the companies develop their technology and bring it to market, is a response to increasing demand for seed capital for tech startups, John Wasilisin, TEDCO’s president and chief operating officer, said in a statement. The larger quantity of applications has been accompanied by a higher quality of company, he said.

The 17 awards all came from TEDCO’s Cyber Security Investment Fund (CIF) and its Technology Commercialization Fund (TCF). Other TEDCO programs include the Maryland Innovation Initiative, which helps commercialize university research projects, and the Rural Business Innovation Initiative, which provides assistance to startup companies in rural Maryland.

A full list of the 17 companies can be found here.