TEDCO Portfolio Companies Make the Maryland Future 20 List

Maryland Department of Commerce Recognizes 12 TEDCO Companies as Innovators

COLUMBIA, Md. (November 19, 2020)—TEDCO, Maryland’s economic engine for technology companies, announced today that twelve (12) TEDCO portfolio companies made the Maryland Future 20 program.

Selection was based on a variety of factors, including innovation, future growth potential, the company’s Maryland story, and “wow” factor.

“Congratulations to the Maryland Future 20 companies,” said Troy LeMaile-Stovall, TEDCO’s CEO and executive director. “TEDCO drives economic empowerment by fostering an inclusive and entrepreneurial innovation ecosystem, and our portfolio companies are instrumental in helping us advance this mission. We’re thrilled that 12 of our portfolio companies were recognized by this program as leaders in entrepreneurship and innovation.” 

“The Maryland Innovation Initiative (MII) fund truly embodies the diversity of the excellent research and technology institutions in the State,” said Robert Hallenbeck, MII board chairman. “We are very proud of our pivotal role in the creation of several ventures selected as Maryland’s Future 20 startups to watch based on their technical ingenuity and potential for social impact.”

“During the current public health crisis, it is critical that we continue to innovate and develop treatments for unmet medical needs, including those related to COVID-19,” said Dr. Debra Mathews, Chair of the Maryland Stem Cell Research Commission. “We remain committed to Accelerating Cures and are delighted to support these companies and to enable the vital and pressing work of developing treatments for COVID-19 patients in Maryland and beyond.”

“It was very exciting to have so many outstanding candidates for the Future 20, which shows the incredible talent and entrepreneurial spirit we have here in Maryland,” said Maryland Commerce Secretary Kelly M. Schulz. “We look forward to the great things to come from all of them.”

The Maryland Future 20 list includes the following companies. Those in bold with an asterisk (*) signify TEDCO portfolio companies:

1. ACTIVEcharge* (Baltimore County) – Provider of blade monitoring hardware and software for wind turbines.
2. Aidar Health* (Baltimore City) – Healthcare technology company focused on personalized medicine with MouthLab product that provides a rapid overall health assessment.
3. Airgility* (Prince George’s County) – Developer of unmanned aerial systems to help support defense missions, public safety and commercial sectors.
4. Clene Nanomedicine (Cecil County) – Clinical-stage biopharmaceutical company focused on treating neurodegenerative diseases.
5. HopFlyt Inc.* (Calvert County) – An aerospace company developing an electric Vertical Takeoff & Landing aircraft.
6. Infercabulary* (Baltimore County) – Education technology startup that offers a web-based, visual vocabulary and reasoning program that helps students use critical thinking.
7. InventWood (Prince George’s County) – Startup developing environmentally sustainable cellulose products. 
8. IonQ (Prince George’s County) – Quantum computing hardware and software company taking ion quantum computing from the lab to the marketplace.
9. Ion Storage Systems (Prince George’s County) – Technology company that creates batteries that are safer and enhance system performance.
10. Live Chair Health (Howard County) – Company with a barbershop appointment booking platform that is also integrating healthcare assessments with barbershop visits.
11. Medcura* (Prince George’s County) – Medical device company developing a wound care platform for surgical, medical, and consumer applications.
12. N5 Sensors, Inc.* (Montgomery County) – Electronics company manufacturing high-performance sensors and detectors.
13. pathOtrak* (Prince George’s County) – Biotechnology company that is developing a rapid detection test for foodborne pathogens, including e.Coli and salmonella.
14. Penacity LLC (Anne Arundel County) – Cybersecurity company providing services to the private sector and federal government.
15. Relavo (Baltimore City) – Medical device company working on a solution for safer, in-home kidney dialysis.
16. Resensys (Prince George’s County) – Technology company with a wireless sensor network to help monitor infrastructure systems against aging and malfunction.
17. Silfra Biosystems LLC* (Baltimore County) – Start-up that manages fish waste in aquaculture.
18. Sisu Global Health* (Baltimore City) – Medical device company with an innovative blood-filtering product.
19. Theradaptive, Inc.* (Frederick County) – Pharmaceutical company focused on regenerative medicine and native tissue repair.
20.  Vita Therapeutics* (Baltimore City) – Cell engineering company developing life-transformative treatments. 

The Maryland Future 20 will be featured in Maryland Commerce blog posts, videos, and social media promotion for the remainder of 2020 and into 2021.

About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.