Maryland innovation fund backs 12 startups

TEDCO, Maryland’s economic engine for technology companies, has invested into 12 startup companies and funded 36 university projects via its Maryland Innovation Initiative (MII).

MII was launched in 2012 as a partnership between the State of Maryland and five Maryland academic research institutions: Johns Hopkins University, Morgan State University, University of Maryland, Baltimore, University of Maryland, Baltimore County, and University of Maryland, College Park.

The program’s mission is to accelerate promising technologies.

Each of the 12 startup companies received a $150,000 investment.

Among the companies to receive funding was Haystack Solutions, a developer of assessment tools to find the best cybersecurity talent.

Another CyberTech in the cohort is ML4Cyber. The company is building cybersecurity tools that are powered by machine learning.

Many of the other companies to receive funding were involved in the health sector, including Capsulomics, which helps prevent, detect, and treat gastrointestinal diseases, and Evincis Bio, which is solving therapeutic challenges in Urology.

MII executive director Dr. Arti Santhanam said, “This past year has seen a record-breaking number of applications across various industry sectors for new innovative technologies. We are always seeking new opportunities and we’re committed to continue growing our portfolio companies and advancing their technologies to the next level.”

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