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TEDCO Announces Awarding $4.3 Million Across Nine Equitech Growth Fund Awardees

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TEDCO, Maryland’s economic engine for technology companies, announced nine awardees for the third round of the Equitech Growth Fund during the 2026 Entrepreneur Expo. The $4,327,579 total awarded across the projects will help build innovation infrastructure and expand pathways into high-tech careers.

“These investments represent more than funding. They represent new opportunities for Marylanders to gain skills, launch careers and participate in the state’s growing innovation economy,” said Troy-LeMaile Stovall, CEO of TEDCO. “Together, the nine projects are expected to create over 240 jobs, offer industry-recognized credentials to 1,000 job seekers, provide technical training to 1,500 Marylanders and support 100 entrepreneurs. By supporting both critical infrastructure and workforce development initiatives, we are creating a stronger, more connected ecosystem that drives economic growth and expands access across Maryland.”

Established by the Maryland General Assembly in 2023, the Equitech Growth Fund invests in infrastructure and workforce development to make Maryland a top ten fastest-growing innovation state by 2040. The plan places special emphasis on middle-skill careers and on bringing underrepresented Marylanders into STEAM jobs and entrepreneurship.

Demand for the Fund has never been higher. This round drew 136 applications, a 45% increase over last year, from organizations in 16 Maryland jurisdictions representing 11 industries. The top five industries by applications were entrepreneur development, cybersecurity and IT workforce development, healthcare, life sciences and bioinformatics, STEAM education and advanced technology.

“We were excited to see another year of innovative collaborations, and even more ecstatic to see how each award will advance the Equitech Growth Commission’s 10-year goal of 87,000 new high-tech industry jobs across the state,” said Sephora Saint-Armand, TEDCO’s ecosystem and Equitech manager.

Divided into two categories of projects – infrastructure and workforce development – the latest Equitech Growth Fund awardees are:

Infrastructure Projects

  1. Ayatris, Inc., located in Frederick County, received $1,000,000
  2. Integrated Pharma Services, located in Montgomery County, received $200,000
  3. MelaTech, located in Baltimore City, received $415,205
  4. Riggle Capital, located in Baltimore City, received $1,000,000
  5. Washington College, located in Kent County, received  $1,000,000

Workforce Development Projects

  1. Defense Interns Corp, located in Harford County, received $150,000
  2. Maryland Clean Energy Center, located in Prince George’s County, received  $170,374, Workforce Development
  3. Maryland Manufacturing Extension Partnership, located in Howard County, received $142,000
  4. NPower Inc., located in Baltimore City, received $250,000

Awardees span advanced laboratory space, biomanufacturing, advanced manufacturing, rural entrepreneurship, cybersecurity, clean technology and workforce training, reaching communities from Baltimore City to the Upper Shore. Infrastructure projects received $3,615,205 and workforce-development projects received $712,374.

To learn more about the Equitech Growth Fund, https://www.tedcomd.com/equitech-growth-fund

You can read the original story on the CityBiz website.

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