George Davis has been appointed CEO of TEDCO, the technology development corporation announced Wednesday morning.
TEDCO had been without a CEO since January, 2016, when Robert A. Rosenbaum resigned. Davis will take over June 26.
“After a thorough search, the Board of Directors is excited to have George Davis take the helm of TEDCO as our new CEO,” said Newt Fowler, TEDCO’s chair, in a statement. “He’s an entrepreneur’s entrepreneur.”
Davis has been active in the bio and tech investment spheres in Maryland. He said he was excited to bring what he’s learned to the new job.
“I’ve been there. Over the years I’ve started businesses. I’ve pioneered. I’ve taken arrows in the back,” Davis said. “”I really understand the needs of that early-stage business, in addition to capital. Obviously they need capita l… but they need to be part of the community. They need connectedness.”
Davis also said he wants to bring more minority and women-owned businesses into TEDCO’s sphere.
“This platform can be a real leader in identifying and uplifting minority-owned and women-owned businesses,” he said. “There’s an untapped level of innovation there that we have to find a way to exploit.”
He’s previously served as a partner of Gamma 3, an investment fund for early-stage funding in advanced technology companies in the Baltimore area. As part of that portfolio, Davis served as CEO of Gemstone Biotherapeutics but will be relinquishing that role as he joins TEDCO.
TEDCO, created in 1998, has provided seed funding to hundreds of Maryland-based companies. To date, the corporation has invested $22 million through more than 400 seed investments.