Maryland’s Tedco fund to offer finance to ‘overlooked’ startups
Posted on 15 June, 2018 by Chris Torney, reporter
The state’s technology development agency will make investments of up to $50,000 available to new businesses which are unable to raise money elsewhere.
Maryland Technology Development Corp, known as Tedco, is launching a new fund which will provide early-stage funding worth up to $50,000 per firm to businesses which have been unable to raise money from other organisations.
The pre-seed Builder Fund is aimed at firms run by entrepreneurs with economically or socially disadvantaged backgrounds.
“With the introduction of the Builder Fund, we can continue to advance the development of underserved companies by pushing them forward in the strategic steps that lead to the next stage of investment,” said Angela Singleton, the Builder Fund’s co-manager.
See more from this Government Report: Maryland, US
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