In its first year the Program now impacts over 50 Maryland start-up companies every month.
COLUMBIA, MD (July 6, 2015) – The Maryland Technology Development Corporation (TEDCO) announced today the placement of four Loaned Executives and the establishment of the fourth Executive Roundtable through its Executive Exchange Program. In its first nine months the program is already impacting a total of 55 companies and 57 entrepreneurs.
“The interest in Executive Exchange within the TEDCO portfolio continues to be very intense,” said Rob Rosenbaum, President and Executive Director of TEDCO. “We’re now convinced that by filling significant gaps in the State’s entrepreneurial assistance ecosystem we’re able to make a meaningful and measurable impact on some of Maryland’s most promising young start-up companies.”
Specific developments in TEDCO’s Executive Exchange Program are as follows:
- Analytical Informatics, the recipient of Maryland Innovation Initiative (MII) Phase 3 funding and creator of a revolutionary data management tool for health care, is receiving the assistance of a TEDCO Loaned Executive.
- Clear Guide Medical, the recipient of Technology Commercialization Fund (TCF) support and developer of Computer-Assisted Image Guidance (CAIG) for needle-based interventions, is receiving the assistance of a TEDCO Loaned Executive.
- VitusVet, also the recipient of a TCF investment and developer of an EMR/PHR solution for veterinary medicine, is receiving the assistance of a TEDCO Loaned Executive.
- Strajillion, one of the 1st start-ups to receive Cybersecurity Investment Fund (CIF) support and provider of a cloud-based management tool for parents raising kids in the mobile + social world, is receiving the assistance of a TEDCO Loaned Executive.
- Protenus, also one of the 1st recipients of a CIF investment and developer of technology that helps hospitals protect patient data, is receiving the assistance of a TEDCO Executive Coach.
- A professionally facilitated executive roundtable focused on HealthIT start-ups is now active.
“Participating in the TEDCO Executive Exchange program was an exciting step forward”, said Chris Meenan, co-Founder and CEO of Analytical Informatics Inc. “Having an experienced business executive that can provide insight and new ideas in key areas such as business strategy or financial modeling is extremely valuable, giving our start-up exactly the kind of helpful advice we needed at the perfect time for our growth. In the long-term, TEDCO’s new Program will be a critical factor in our success”
Executive Exchange is a multi-layered initiative designed to cut across all TEDCO funding programs by offering supplemental stage-appropriate assistance to portfolio and, in some cases, potential portfolio entrepreneurs and their companies. TEDCO hopes to impact as many as 80 additional startup ventures with this new Program in its first year. Initially, the net new elements of Executive Exchange – Loaned Executive, Executive Coaching, and CEO Roundtables – will be directed at TEDCO Technology Commercialization Fund and Maryland Innovation Initiative portfolio companies. Candidates should express their interest in participating through their TEDCO portfolio manager or RBI² representative.