TEDCO, the Maryland Technology Development Corporation, is the state-backed investor that funds early-stage, technology-based companies in Maryland through grants, convertible notes, seed investments and venture funds. If you are a Maryland founder, the short answer is this: pre-seed founders from underrepresented or rural communities should look at Concept Capital, university spinouts at the Maryland Innovation Initiative, SBIR and STTR winners at the Matching Funds program, and venture-ready companies at the Seed Funds and Venture Funds.
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This guide walks through every major TEDCO program, who qualifies, how much money is on the table where TEDCO publishes a figure, and how to apply. Every number below comes from TEDCO's own program pages, checked in October 2026. You can also find TEDCO in the StartDMV directory.
What TEDCO is and who it funds
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TEDCO was created by the State of Maryland and is headquartered at 10960 Grantchester Way in Columbia. Its mission is to identify, invest in and help grow technology companies in Maryland. Its funding page currently lists 17 programs that fall into four buckets: investment, matching funds, grants and other support.
Most TEDCO equity programs share a few baseline rules. For the core Seed Funds, a company must be:
- Based in Maryland and formed as an entity, not a sole proprietorship.
- Technology-based, with operations that started within five years of the application (the Builder Fund is exempt from this limit).
- Small, with 250 or fewer employees, and with no more than $15,000,000 in prior funding, excluding TEDCO money and grants.
- Not primarily in retail, real estate development, insurance, banking or lending, or professional accounting, law or medical services.
- Willing to sign a five-year claw-back agreement, which is TEDCO's way of making sure state money stays tied to Maryland jobs.
If you are still choosing an entity, start with our guide on how to start an LLC in Maryland. Note that some investors prefer a C corporation for equity rounds, so talk to an advisor before you form.
TEDCO funding programs at a glance
The table below summarizes the programs most founders ask about. Where TEDCO does not publish an amount, we say so rather than guess.
| Program | Best for | Amount | Type |
|---|---|---|---|
| Concept Capital | Pre-seed founders from rural or disadvantaged communities | $25,000 to $50,000 | Convertible note, zero interest |
| Seed Funds (Technology Commercialization, Cybersecurity, Life Science, Gap, Builder) | Early-stage Maryland tech companies | Not published on the program page | Seed investment |
| Venture Funds | Growth and Series A stage companies | $500K to $1.5M | Investment |
| Social Impact Funds (Pre-Seed Builder Fund, Inclusion Fund) | Companies with socially and economically disadvantaged founders | Not published on the program page | Investment |
| Maryland Innovation Initiative | Faculty and startups licensing university technology | Up to $430,000 across two phases | Grant |
| SBIR/STTR Matching Funds | Companies that recently won a federal SBIR or STTR award | Up to $25,000 (Phase I) or $75,000 (Phase II) | Matching award |
| Pava LaPere Innovation Acceleration Grant | Student founders in the Baltimore region | Up to $50,000 | Non-dilutive grant |
| Equitech Growth Fund | Infrastructure and workforce projects | Up to $1M (infrastructure) or $250K (workforce) | Grant |
Pre-seed money: Concept Capital and the Social Impact Funds
Concept Capital is TEDCO's answer to the early-stage funding gap for underrepresented founders. It offers $25,000 to $50,000 convertible notes with zero interest and negotiable valuation caps, plus one-on-one mentoring and investment-readiness software. To qualify, your business must have its principal office in Maryland and at least 51 percent of its workforce in the state, be technology-driven and non-retail, have been founded within the last seven years, and be led by a founder from a rural or disadvantaged community or a socially and economically disadvantaged individual, including minority, disabled or female founders.
The Social Impact Funds go one step further. The Pre-Seed Builder Fund requires that no less than 50 percent of founder ownership be held by founders who demonstrate social and economic disadvantage. The Inclusion Fund requires at least 30 percent ownership by such individuals, who must keep control of the company for at least one year after TEDCO invests. Both require at least one full-time employee and a commitment to receive executive support.
Seed Funds and Venture Funds for growing companies
TEDCO's Seed Funds bundle five vehicles: the Technology Commercialization Fund, the Cybersecurity Investment Fund, the Life Science Investment Fund, the Gap Fund and the Builder Fund. TEDCO does not publish fixed check sizes on the Seed Funds page, so ask the investment team directly about current ranges.
The process is described on the Seed Funds how to apply page:
- Read the TEDCO investment regulations in COMAR 14.04, especially the seed investment criteria.
- Submit your application online through TEDCO's website. Applications sent by email or mail are not considered.
- Email investments@tedcomd.com after submitting so TEDCO can confirm your application arrived.
- Expect a review within 30 days. Applications are assessed on a rolling basis.
For later-stage companies, TEDCO's Venture Funds invest "anything between $500K to $1.5M" and are tagged for growth and Series A rounds. If you are building your investor list at the same time, read our DMV startup funding roundup to see who is writing checks in the region.
Non-dilutive grants: MII, SBIR matching and the Pava LaPere grant
Maryland Innovation Initiative (MII)
The Maryland Innovation Initiative is a partnership between the state and five research universities: Johns Hopkins University, Morgan State University, the University of Maryland Baltimore, UMBC and the University of Maryland College Park. It funds up to $430,000 for sole applicants across two nine-month phases. Technology Assessment awards go to full-time faculty and run up to $130,000 for a sole application or $180,000 for a joint one. Company Formation awards of up to $300,000 go to Maryland startups that licensed technology from a qualifying university within the previous 12 months. MII reviews applications quarterly, with deadlines on January 15, April 15, July 15 and October 15 at 5:00 pm.
SBIR/STTR Matching Funds
If you win a federal SBIR or STTR award, TEDCO's Matching Funds program can add the lesser of 25 percent of a Phase I award or $25,000, and the lesser of 25 percent of a Phase II award or $75,000. You must apply within six months of receiving the federal award, and TEDCO plans to issue awards quarterly. TEDCO also runs an SBIR/STTR Proposal Lab to help companies write stronger federal applications.
Pava LaPere Innovation Acceleration Grant
Named for the late Baltimore founder Pava LaPere, this grant program provides up to $50,000 in non-dilutive funding to technology startups founded by students at eligible colleges and universities in the Baltimore-Columbia-Towson region. Student founders must own at least 50 percent of the company, and ventures are nominated by their school before applying. TEDCO expects to select nine ventures, with no more than two from the same institution. If you are a University of Maryland student, the Dingman-Lamone Center for Entrepreneurship is a good first stop.
Other TEDCO programs worth knowing
- Maryland Stem Cell Research Fund (MSCRF): created under the Maryland Stem Cell Research Act of 2006, it offers Launch, Discovery, Validation, Commercialization, Clinical, Post-doctoral Fellowship and Manufacturing Assistance programs. Check MSCRF funding opportunities for current deadlines.
- Equitech Growth Fund: grants of up to $1M for infrastructure and up to $250K for workforce projects, open to public entities, nonprofits, companies and universities. It is listed as closed right now, so watch for the next round.
- Baltimore Innovation Initiative, DefTech, FLLIP and the Maryland Makerspace Initiative: targeted programs for Baltimore companies, defense technology, federal lab technology transfer and makerspaces. See the full list on the TEDCO funding page.
If you need cash that is not tied to technology, compare these programs with our roundup of small business grants in Maryland.
How to meet TEDCO in person
The fastest way to understand which program fits is to talk to the team. TEDCO runs free virtual open forums on its programs, and StartDMV lists them on the events calendar:
- TEDCO's Investment Open Forum on October 28, 2026.
- TEDCO's Venture Development Open Forum on October 21, 2026.
- TEDCO's BRIDGE Program Open Forum on November 19, 2026.
The biggest date on the calendar is the TEDCO 2026 Entrepreneur Expo on Tuesday, October 27, 2026, from 8:00 am to 7:00 pm at the Hilton Baltimore Inner Harbor. The official expo page promises workshops, roundtables, live pitches and an exhibitor showcase. Bring a one-page summary of your company and be ready to say which program you think fits.
Tips for a stronger TEDCO application
- Match the program to your stage. A pre-revenue team with a prototype fits Concept Capital or the Builder Fund, not the Venture Funds.
- Prove your Maryland footprint. Several programs require your principal office and most of your workforce to be in Maryland. Keep your lease, payroll and state registration documents ready.
- Stack non-dilutive money first. An SBIR award plus TEDCO matching funds can extend your runway before you give up equity.
- Use free help. The Maryland SBDC and the Maryland Tech Council can review your materials and introduce you to people who have been through the process.
Get the weekly list of DMV startup events, grants and deadlines. Join the StartDMV list at https://startdmv.org.