A thriving quality of life in Montgomery County with TEDCO
Montgomery County, Maryland, is home to a thriving ecosystem of innovators and researchers who continuously work to enhance our daily experiences. TEDCO, the Maryland Technology Development Corporation, empowers these entrepreneurs by providing crucial funding and resources. Here’s how four Montgomery County companies within TEDCO’s portfolio are contributing to Maryland’s quality of life and supporting a robust entrepreneurial landscape.
SkySquad: Improving the airport experience
Headquartered in Bethesda, SkySquad provides an extra set of hands when travelers need them most: at the airport. Through their platform, travelers are met curbside by vetted assistants who provide a helping hand on their journey through select airports, including Baltimore-Washington International. This includes assistance with check-in, navigating terminals and handling luggage and strollers.
SkySquad received a 2021 investment from TEDCO’s Pre-Seed Builder Fund, a fund that is dedicated to investing in and providing executive support to economically disadvantaged Maryland-based technology companies.
“Our Pre-Seed Builder Fund invests with the goal of helping Maryland tech-based companies reach meaningful milestones and becoming attractive investments to larger institutional investors,” said Jack Miner, chief investment officer. “We are pleased to invest in the SkySquad team to help position them to improve travel experiences for everyone who would avail themselves of their service.”
Hememics Biotechnologies: Handheld lab-quality diagnostics
Hememics Biotechnologies, a company in Gaithersburg, is answering the call for faster, more accessible diagnostic tools. Their innovative platform utilizes a handheld, multiplexed biosensor capable of performing lab-quality tests at the point of care. This eliminates the need for bulky equipment and lengthy turnaround times, allowing for quicker and more informed decisions. The company’s technology holds immense potential for various medical fields, from emergency room settings to remote health care clinics.
Hememics Biotechnologies received an investment from TEDCO’s Venture Funds through the State Small Business Credit Initiative (SSBCI) in 2023. CEO and co-founder John Warden, Jr. remarked, “The new funding will allow us to put the final touches on our product and continue to develop early commercial customers.”
Polaris Genomics: Making invisible conditions visible
Polaris Genomics is pioneering a new approach to mental health care: using genomics and artificial intelligence to decode the biological fingerprints of mental health. This groundbreaking technology aims to bring objectivity and clarity to the assessment, diagnosis and treatment of neuropsychiatric conditions. One of their leading products, the PTS-ID™ Genomic Test, marks a significant breakthrough: it’s a test that utilizes genomics for PTSD assessment, potentially leading to more accurate diagnosis and targeted treatment options. Polaris Genomics’ dedication to leveraging cutting-edge science holds immense promise for improving mental healthcare outcomes on a global scale.
To support the research and development of this innovative company, TEDCO announced a Venture Funds SSBCI investment in Polaris Genomics in 2023.
“Thanks to TEDCO’s investment, we can continue to decode the biological underpinnings of mental health,” noted Charles Cathlin, Polaris Genomics’ co-founder and CEO.
Dogwood Gaming: Entertainment brought to life
Dogwood Gaming, an indie game development studio in Silver Spring, is a creative powerhouse founded by four gaming-passionate friends. The company boasts a diverse portfolio of interactive entertainment titles available on consoles, mobile and PC — from action-packed adventures like Static and K’nife Fight to captivating puzzle games like Ashes of Kanaka.
An established resource for Maryland’s freelance game developers and motion capture animators, the 2022 investment from TEDCO’s Pre-Seed Builder Fund provided the company with the chance to “bring our exciting new AI technology to the world,” according to CEO of Dogwood Gaming, Samuel Martino.
“Gaming continues to grow in popularity, and Dogwood Gaming is an exciting addition to the TEDCO portfolio supporting Maryland’s game studio industry,” said Jean-Luc Park, senior director of Social Impact Funds at TEDCO. “With this investment in Dogwood Gaming and their AI technology, TEDCO is helping support Maryland’s independent game developer industry.”
Looking forward
As you can see, Montgomery County is home to a variety of entrepreneurial innovators and the select TEDCO portfolio companies highlighted above represent only a microcosm of this vibrant ecosystem. Their success stories highlight the county’s commitment to fostering groundbreaking ideas that have a positive impact on our lives. As these companies continue to grow with TEDCO’s support, we can take pride in a thriving Maryland.
To join the growing portfolio of companies bringing technology-based innovations to Maryland, apply to our investment opportunities at www.tedcomd.com/funding.
Source: Washington Business Journal
