Maryland Technology Development Corporation (TEDCO)

TEDCO, also known as the Maryland Technology Development Corporation, is an independent instrumentality of the State of Maryland, established in 1998 to serve as Maryland's economic engine for technology companies. Its core mission is to enhance economic empowerment by fostering an inclusive and entrepreneurial innovation ecosystem, identifying, investing in, and helping grow technology companies within the state. Headquartered in Columbia, Maryland, TEDCO relocated to 10960 Grantchester Way, Suite 120, in Q1 2024.

TEDCO provides a range of services and funding programs designed to support early-stage technology and life sciences companies. These include Seed Investment Funds, Social Impact Funds (such as the Builder Fund and Inclusion Fund), the Maryland Venture Fund, the Maryland Innovation Initiative (MII), the Maryland Stem Cell Research Fund (MSCRF), and the Federal Technology Transfer Initiative (FTTI). The organization also offers business assistance, technology transfer, and commercialization support from Maryland's universities and federal laboratories. Additionally, TEDCO provides entrepreneurs with valuable resources like Network Advisors, a Start-up Orientation Forum, and Market Search Databases, with a focus on inclusive entrepreneurship and supporting underrepresented founders and rural businesses.

Under the leadership of CEO Troy A. LeMaile-Stovall, and with Ellen Flowers-Fields serving as Chair of the Board of Directors, TEDCO continues to be a significant force in Maryland's innovation landscape. Recent activities include announcing over $2.1 million to the latest awardees of the Maryland Innovation Initiative in April 2026 and a $500,000 Venture Funds investment in greatEvent in the same month. In November 2025, TEDCO signed a joint-declaration agreement with the Korea Venture Investment Corporation. The organization actively invests in early-stage companies, with its latest reported investment in UfarmX in February 2026, and hosts an annual Entrepreneur Expo to foster connections and growth within the state's tech and business ecosystem. Over 27 years, TEDCO's efforts have contributed to the creation of more than 12,000 state-based jobs and generated over $2.7 billion in economic impact.