TEDCO, Maryland’s economic engine for technology companies, announced a recent $200,000 investment in Escalate from its Social Impact Funds.
Escalate, based in Silver Spring, developed an innovative proprietary support platform focused on minimizing turnover of frontline employees. Through this platform, Escalate facilitates a community of support, provides opportunities for workers to learn and grow in their fields and works to end the current talent crisis.
Jean-Luc Park, TEDCO’s senior director of its Social Impact Funds, said 76% of frontline employees leave their positions during the first 120 days and Escalate is committed to supporting frontline workers and improve the workforce. With TEDCO’s investment, Park added Escalate can continue working toward these goals, using technology to put people first while also supporting the growth of Maryland’s economic development.
Through the Social Impact Funds, TEDCO invests in and provides hands-on educational support, mentorship and collaborative efforts, and networking opportunities to support socially and economically disadvantaged individuals who are founders of technology-based companies in the state.