TEDCO continued its efforts to grow businesses in Maryland’s more rural regions this week, investing in two Frederick technology companies.
Through TEDCO’s Rural Business Innovation Initiative, Nanobiofab and GOEFER will receive ongoing mentorship and funding as they develop their products.
“Through this program, we’re able to guide companies to commercialization, while providing mentorship and assistance every step of the way,” Chuck Ernst, the initiative’s mentor for western Maryland, said in a statement. “Companies that are awarded funding through RBI2 are driven by some of the most innovative leaders in the state, and these two companies specifically are exemplary examples of the entrepreneurial opportunities we strive to provide.”
Nanobiofab uses inkjet printer technology to create bio-panels and assays. The products created can be used to detect molecules emitted from the skin to track fat consumption and potentially diagnose diseases, TEDCO said.
The Nanobiofab product uses nano-technologies to produce panels for diseases like scrub typhus, murine typhus, spotted fever, and leptospirosis.
“TEDCO’s support has played a significant role in our move to market,” Dr. Xianao Liu, the company’s founder and CEO, said in a statement. “Our products are life-changing, and through this program, we can use the unmatched mentorship and guidance from TEDCO to become playmakers in the health care technology industry.”
GOEFER makes surge protectors and power strips that are more than just surge protectors and power strips.
The GOEFER technology provides wireless control over devices that are plugged in through the power strip. From a smartphone app, users can also get insight into the power demands of any device plugged into the GOEFER product.
“While GOEFER is unique and patentable, TEDCO has helped put us on the path to owning our part of the energy and technology space,” Michael Herod, GOEFER’s founder and CEO, said in a statement. “We’re honored to be named recipients and we look forward to experiencing the company’s next big steps with the help of TEDCO’s knowledgeable team and operational expertise.”
Both Nanobiofab and GOEFER are part of Frederick incubator Frederick Innovative Technology Center, Inc.
TEDCO’s Rural Business Innovation Initiative was designed to bring resources to startups outside of the headline-grabbing Baltimore and Interstate 270 corridor hubs.
Initial stages of the program focused on providing mentorship and creating a community for startups in areas where it is harder for entrepreneurs to come by these resources.
Over the past couple of months, TEDCO has expanded the program to provide pre-seed funding to some of the companies.
It began with Chester firm Plum Dragon Herbs in May and has continued with two other awards before this week’s announcements for Nanobiofab and GOEFER.