Like many Venture Capital investors, TEDCO has a fiduciary responsibility to create the greatest value with the resources that they have been given, resources that include time, talent and treasure. This responsibility is directly tied to TEDCO’s core value of stewardship.
Stewardship is defined by the Merriam-Webster dictionary as “the careful and responsible management of something entrusted to one’s care.” This aligns with TEDCO’s definition of the essential core value, which is as follows:
“We take seriously our responsibility to manage scarce resources and to serve as stewards of State, Federal, and private funds. We value our ability to create a sense of belonging and to serve our customers in an efficient and fiscally responsible manner. We encourage and empower TEDCO’s staff to act in accordance with our culture.”
As the Senior Director of Social Impact Funds at TEDCO, stewardship is essential to everything I do. The responsibility of upholding the established processes and procedures of TEDCO while defining and executing strategies for distributing the Social Impact Funds is prevalent in every investment.
The overall objective is to create financial returns while supporting Maryland’s economic development and uplifting underrepresented entrepreneurs. Without careful stewardship, these objectives will remain unmet and fund allocation, state efforts and investment opportunities could be wasted. The reputation of the state could also be negatively affected. The curation of investments and diligence required to protect the resources of the state of Maryland are necessary, especially when engaging in the high-risk reality of early-stage start-up technology companies.
In addition to being stewards of state resources and funding, all of 1TEDCO, are also stewards of a hopeful future, one aimed at increasing opportunities for a diverse array of Marylanders, thus supporting the continuation of the state’s economic development and bettering of our communities. Investments are made with this larger goal in mind.
Our commitment to stewardship doesn’t stop with 1TEDCO – it continues to the companies that receive Social Impact Funds; these businesses reflect the efforts, talents and support of both their founders and of TEDCO. Because of this, we are careful to do our due diligence, vetting entrepreneurs who are as committed to stewardship as we are. It is because of this that an engagement with TEDCO is more than a financial arrangement; the fund goals extend beyond simple financial gain to include contributions to a thriving, inclusive innovation ecosystem.
All in all, stewardship is central to all that we do with the Social Impact Fund, from the TEDCO team to the selected founders.