TEDCO https://www.tedcomd.com, Maryland’s economic engine for technology companies announced their funding. The funding included $1.8 million in 12 start-up companies and over $4.4 million awarded to 36 university projects via the Maryland Innovation Initiative (MII) https://www.tedcomd.com/funding/Maryland-innovation-initiative.
“This past year has seen a record breaking number of applications across various industry sectors for new innovative technologies,” reports Dr. Arti Santhanam, MII Executive Director , “We are always seeking new opportunities and we are committed to growing our portfolio companies and advancing their technologies to the next level.”
MII has been investing in some of the companies below specifically in the medical and healthcare fields:
- BLOCKsynoop is developing a monitoring device that provides an objective measurement to quantify controlled delivery and effectiveness of neural blocks on pain
- Capsulomics is resolving diagnostic and prognostic uncertainty related to gastrointestinal diseases
- Empower Therapeutics, a digital therapeutics company that utilizes functional targeting for noninvasive neuromodulation of pain sensitivity
- Evincis Bio, solves therapeutic challenges in urology with innovative medical technologies
- Geminus Therapeutics is developing best-in-class Artemisinin (ART714) for treating leukemia
- Kubanda Cryotherapy provides affordable cancer care for pets through a novel, low-cost cryoablation devices
- PreSquared builds products to help health organizations prioritize patient care based on levels of risk
As start-up companies join TEDCO’s MII portfolio, they also have access to a range of TEDCO resources from mentors, CEO roundtables and from other executives. The companies receive the assistance and support needed as they move through team building, balancing the funding elements, and negotiating deals.
In the nine years since MII launched, MII has disbursed $43 million de-risked 276 unique technologies and created 119 start-ups. MII’s portfolio of start-ups have raised over $571.5 million in follow-on funding. In addition, these companies have created economic value by creating full time employment for highly skilled tech employees with an average salary of $100,000.
Go to https://www.tedcomd.com/mii-projects for a complete list of MII funded companies. Go to TEDCO’s YouTube Channel to view a video on MII highlights at https://youtu.be/2rxq9EcjQNQ.