Maryland Department of Business and Economic Development

The Maryland Department of Business and Economic Development (DBED) is dedicated to fostering a favorable business environment in the state. Through its platform, ChooseMaryland, the department provides essential resources and programs for businesses of all sizes, including information on financing, workforce training, exporting, and assistance for small and minority enterprises. DBED's primary objectives are to attract new businesses, stimulate private investment, create jobs, and support the growth and retention of existing companies. Additionally, the department plays a vital role in marketing Maryland's economic advantages and local products both domestically and internationally, thereby enhancing development, trade, and tourism. Recognizing the importance of cultural and special events, DBED also supports initiatives in the arts, film production, and sports. By promoting a positive business climate and ensuring equitable prosperity across the state, the department positions Maryland as a key player in the New Economy.

Renee M. Winsky

Executive Director

30 past transactions

Pet Connect Business

Pre Seed Round in 2020
Pet Connect Business offers a digital management system tailored for pet service providers. The company enables these providers to easily and affordably implement and manage customized mobile applications and websites, along with an online management hub. This system empowers pet service providers to enhance their customer engagement by streamlining the acquisition, support, and retention of clients. Through its solutions, Pet Connect Business facilitates better online connectivity and operational efficiency for businesses in the pet services industry.

Link Labs

Series A in 2015
Link Labs, founded in 2014 by engineers from the Johns Hopkins University Applied Physics Lab, provides an end-to-end Internet of Things (IoT) platform designed to tag, locate, and monitor equipment, supplies, and assets across various sectors, including construction, healthcare, logistics, manufacturing, and warehousing. Based in Annapolis, Maryland, the company is recognized for its flagship product, AirFinder, which simplifies the process of locating and monitoring assets by combining advanced intelligent radio-frequency identification (RFID) with low-power IoT network technologies. With over 20 patents and the deployment of hundreds of thousands of IoT devices, Link Labs manages billions of IoT events each month, earning the trust of leading global enterprises for their innovative solutions.

Mobile System 7

Grant in 2014
Mobile System 7 is an enterprise security company founded by former professionals from the Intelligence Community. The company's flagship product, Interlock, focuses on safeguarding enterprise data from unauthorized access and malicious threats, distinguishing itself from traditional security solutions that primarily secure endpoints. By emphasizing the protection of critical data and services, Interlock employs analytics and real-time access controls to enhance data security. Additionally, Mobile System 7 offers the Sentry platform, designed for monitoring mobile deployments, allowing enterprises to secure, deploy, and manage their mobile devices effectively.

TRX Systems

Series A in 2012
TRX Systems, Inc. specializes in developing indoor location solutions that provide accurate tracking and mapping in environments where GPS signals are weak or unavailable, such as indoors, underground, and in dense urban areas. The company's flagship product, the NEON system, integrates advanced sensor fusion, time-of-flight ranging, and mapping algorithms to deliver precise real-time location data. Key offerings include the NEON Tracking Unit, a wearable sensor accessory, and the NEON Personnel Tracker, which enables users to be tracked both indoors and outdoors for applications in industrial, security, public safety, and defense sectors. Additionally, TRX provides NEON Signal Mapper for real-time 3D indoor mapping and other application programming interface solutions. The company's technology is embedded in various devices like mobile phones and radios, enhancing situational awareness and command effectiveness. Established in 2001 and headquartered in Greenbelt, Maryland, TRX Systems markets its products through online channels.

Zymetis

Grant in 2010
Zymetis is a biotechnology company founded in 2006 by Dr. Steve Hutcheson at the University of Maryland. The company focuses on producing affordable next-generation transportation fuels, including ethanol and other biofuels, sourced from various plants and plant waste using cellulosic methods. Zymetis leverages novel enzymes to enhance production efficiencies, lower costs, and improve yields in biofuel production. In recognition of its innovative approach and contributions to green technology, Zymetis was named to the 2009 GoingGreen East 50 Top Company List, highlighting its commitment to advancing sustainable energy solutions.

ClassifEye

Series B in 2008
ClassifEye produces a secure fingerprint authentication technology. ClassifEye has incorporated a comprehensive software solution, based on existing cell-phone cameras. This enables fast and easy deployment of identity management solutions for mobile markets at a fraction of the cost of comparative authentication techniques. No biometric sensors and no extra hardware are needed. A simple application download for existing phones makes ClassifEye's solution a winning step towards securing electronic transactions and increasing revenues.

My Ad Box

Venture Round in 2008
My Ad Box attempts to create a process that would protect the privacy of classified advertisers while offering 24/7 contact for respondents to their ads. In June 2005, Stinnie and co-founder, Joe Hudson, launched My Ad Box - a dedicated, disposable phone number and email address that collects all responses related to an ad - without intruding on the rest of the advertiser's life. Customers can respond any time, while advertisers can store messages and retrieve them from one handy location - their My Ad Box account. MAB products are currently being sold by newspapers across the country, from the mid-Atlantic to Colorado, and even Canada. MAB's innovative concept has been covered nationally in television news reports and business publications. The system is easy to use, efficiently designed and an effective way to meet the demands of the modern classified customer while limiting the distractions, dead-ends and potential intrusions that can come from revealing direct personal information in an ad.

Innovative Biosensors

Venture Round in 2008
Innovative Biosensors' technology is built upon a foundation of a genetically engineered biosensor that allows for extremely rapid testing of analytes, providing high levels of sensitivity and specificity. The patented, self-contained biosensor system is capable of generating a sensitive and specific result with minimal amount of reagents in minutes, making it a cost-effective alternative to traditional laboratory testing. In addition, the biosensors can be engineered to detect one target or several targets of interest simultaneously and used to perform a wide variety of bioassays. Designed for real-time detection, minimally-skilled personnel can perform tests and analysis at the site of sampling using small, portable, space-saving instrumentation

NeuroNascent

Grant in 2008
NeuroNascent, Inc. is focused on developing therapeutics aimed at treating chronic neurodegenerative disorders. Founded in 2004 and headquartered in Clarksville, Maryland, the company specializes in first-in-class, small-molecule drugs that promote neurogenesis. Its drug development pipeline includes NNI-362 for Alzheimer's disease, NNI-351 targeting depression, PTSD, and Down syndrome, and NNI-370 for Parkinson's disease. Additionally, NeuroNascent is exploring the use of Arctic ground squirrel neural stem cells for conditions related to ischemia, tolerance, and hibernation. With facilities in Rockville and Walkersville, Maryland, the company aims to provide effective treatment options for various neurological disorders, including fragile X syndrome.

Zenoss

Series B in 2008
Zenoss Inc. specializes in developing monitoring and analytic software that provides comprehensive visibility across cloud, virtual, and physical IT environments. Its primary offering, Zenoss Cloud, is a software-as-a-service platform that aggregates and normalizes machine data, allowing organizations to anticipate and prevent service disruptions in their IT operations. The company also integrates with VxRail hyperconverged infrastructure, enabling users to monitor entire deployments effectively. Zenoss's solutions cater to various industries, including federal, financial, and technology sectors, as well as service providers, with applications in IT services, virtualization, network management, and unified communications. By employing machine learning algorithms, Zenoss helps organizations reduce downtime and optimize IT spending through real-time service models. Founded in 2005 and headquartered in Austin, Texas, with an additional office in Coventry, United Kingdom, Zenoss maintains strategic partnerships with several prominent companies, enhancing its service offerings.

Sirnaomics

Venture Round in 2007
Sirnaomics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing targeted therapeutics for significant human diseases using RNA interference (RNAi) technology. Founded in 2007 and headquartered in Gaithersburg, Maryland, with additional offices in Cambridge, Massachusetts, and facilities in Suzhou and Guangzhou, China, Sirnaomics is dedicated to addressing critical medical needs in oncology, anti-fibrotic therapeutics, and viral infections. The company's product portfolio includes several small interfering RNA (siRNA) therapeutics such as STP705 for scar reduction, STP909 for colon cancer, and STP900 for HPV and cervical cancer, among others. Sirnaomics employs proprietary Polypeptide Nano-Particle (PNP) technology to enhance drug delivery, allowing effective targeting of the tumor microenvironment and various cell types, particularly in the liver. Through its innovative approach, Sirnaomics aims to create impactful treatments for diseases with large market opportunities.

Three Stage Media

Series C in 2007
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Zenoss

Series A in 2006
Zenoss Inc. specializes in developing monitoring and analytic software that provides comprehensive visibility across cloud, virtual, and physical IT environments. Its primary offering, Zenoss Cloud, is a software-as-a-service platform that aggregates and normalizes machine data, allowing organizations to anticipate and prevent service disruptions in their IT operations. The company also integrates with VxRail hyperconverged infrastructure, enabling users to monitor entire deployments effectively. Zenoss's solutions cater to various industries, including federal, financial, and technology sectors, as well as service providers, with applications in IT services, virtualization, network management, and unified communications. By employing machine learning algorithms, Zenoss helps organizations reduce downtime and optimize IT spending through real-time service models. Founded in 2005 and headquartered in Austin, Texas, with an additional office in Coventry, United Kingdom, Zenoss maintains strategic partnerships with several prominent companies, enhancing its service offerings.

Crescent Biopharma

Series B in 2006
GlycoMimetics, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of innovative glycomimetic drugs aimed at addressing significant unmet medical needs associated with diseases influenced by carbohydrate biology. The company’s lead drug candidate, rivipansel, is a pan-selectin antagonist that has completed Phase III clinical trials for treating vaso-occlusive crises in sickle cell disease. Additionally, GlycoMimetics is developing uproleselan, an E-selectin inhibitor that is being tested in combination with chemotherapy for acute myeloid leukemia (AML) and in a Phase III trial for relapsed/refractory AML. The company also offers GMI-1359, which targets E-selectin and a chemokine receptor, having completed Phase I clinical trials, and is involved in developing other candidates, including GMI-1687 and Galectin-3. GlycoMimetics has established research collaborations, including an agreement with the National Cancer Institute and a partnership with Apollomics for the commercialization of uproleselan and GMI-1687. Founded in 2003, the company is headquartered in Rockville, Maryland.

Three Stage Media

Series B in 2006
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Advanced BioNutrition

Series B in 2005
Advanced BioNutrition Corp. specializes in developing environmentally sustainable and science-based bioactive stabilization and delivery solutions for various industries, including human nutrition, health, agriculture, and food safety. Founded in 2001 and based in Columbia, Maryland, the company offers innovative MicroMatrix targeted delivery systems designed to stabilize, protect, and deliver bioactives effectively. Its portfolio includes integrated functional ingredients and technologies applicable to human and animal health, aquaculture, and dietary supplements. With over 40 patents, Advanced BioNutrition continues to explore new applications and markets, providing customizable solutions that enhance product development and performance across its diverse clientele.

Crescent Biopharma

Series A in 2004
GlycoMimetics, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of innovative glycomimetic drugs aimed at addressing significant unmet medical needs associated with diseases influenced by carbohydrate biology. The company’s lead drug candidate, rivipansel, is a pan-selectin antagonist that has completed Phase III clinical trials for treating vaso-occlusive crises in sickle cell disease. Additionally, GlycoMimetics is developing uproleselan, an E-selectin inhibitor that is being tested in combination with chemotherapy for acute myeloid leukemia (AML) and in a Phase III trial for relapsed/refractory AML. The company also offers GMI-1359, which targets E-selectin and a chemokine receptor, having completed Phase I clinical trials, and is involved in developing other candidates, including GMI-1687 and Galectin-3. GlycoMimetics has established research collaborations, including an agreement with the National Cancer Institute and a partnership with Apollomics for the commercialization of uproleselan and GMI-1687. Founded in 2003, the company is headquartered in Rockville, Maryland.

Viracor-IBT Laboratories

Series B in 2004
Viracor-IBT Laboratories is dedicated to being the leading specialty diagnostics laboratory partner in allergy, immunology, and infectious disease testing. They provide doctors and hospitals the tests, results and support they need to deliver the best care possible, and they collaborate with pharmaceutical researchers to solve difficult problems and accelerate drug development.

Bluefire Security Technologies

Series C in 2004
Bluefire Security develops security software for wireless and mobile handheld devices.

Three Stage Media

Venture Round in 2004
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Panacos Pharmaceuticals

Post in 2004
Panacos Pharmaceuticals, Inc. is a biotechnology company focused on the discovery and development of small-molecule oral drugs targeting human immunodeficiency virus (HIV) and other viral diseases. Founded in 1999 and based in Watertown, Massachusetts, the company employs innovative technologies to identify novel targets in the viral life cycle, particularly in areas such as virus maturation and fusion. Its product pipeline includes advanced programs aimed at inhibiting HIV maturation, representing second- and third-generation therapeutic options.

Qovia

Series B in 2004
Qovia specializes in voice over Internet Protocol (VoIP) monitoring and management technologies. Founded in 2002 and based in Frederick, Maryland, the company develops software solutions designed to monitor and manage voice quality on VoIP telephone systems. Its products serve a diverse clientele, including school districts, government agencies, law enforcement, banking institutions, call centers, and voice carriers. By focusing on the quality of voice communications, Qovia plays a significant role in optimizing the performance of next-generation telephone systems that utilize internet technology for voice traffic.

Viracor-IBT Laboratories

Series B in 2004
Viracor-IBT Laboratories is dedicated to being the leading specialty diagnostics laboratory partner in allergy, immunology, and infectious disease testing. They provide doctors and hospitals the tests, results and support they need to deliver the best care possible, and they collaborate with pharmaceutical researchers to solve difficult problems and accelerate drug development.

Qovia

Series A in 2003
Qovia specializes in voice over Internet Protocol (VoIP) monitoring and management technologies. Founded in 2002 and based in Frederick, Maryland, the company develops software solutions designed to monitor and manage voice quality on VoIP telephone systems. Its products serve a diverse clientele, including school districts, government agencies, law enforcement, banking institutions, call centers, and voice carriers. By focusing on the quality of voice communications, Qovia plays a significant role in optimizing the performance of next-generation telephone systems that utilize internet technology for voice traffic.

Vapotherm

Series C in 2003
Vapotherm, Inc. is a medical technology company specializing in the development and commercialization of proprietary Hi-VNI technology products designed to treat patients of all ages experiencing respiratory distress. Headquartered in Exeter, New Hampshire, the company offers a range of precision flow systems, including Precision Flow Hi-VNI, Precision Flow Plus, Precision Flow Classic, and Precision Flow Heliox, which deliver heated, humidified, and oxygenated air at high velocity through a small-bore nasal interface. Vapotherm also provides various companion products, such as the Vapotherm Transfer Unit for patient mobility, the Q50 compressor for compressed air, and aerosol solutions for medication delivery. Additionally, the company offers disposable products, including single-use nasal interfaces and Oxygen Assist Modules to help clinicians maintain target oxygen levels. Vapotherm generates revenue primarily through direct sales to hospitals in the United States and through distributors in select international markets. Founded in 1993, the company is committed to enhancing clinical outcomes and improving the quality of life for patients.

Advanced BioNutrition

Series A in 2003
Advanced BioNutrition Corp. specializes in developing environmentally sustainable and science-based bioactive stabilization and delivery solutions for various industries, including human nutrition, health, agriculture, and food safety. Founded in 2001 and based in Columbia, Maryland, the company offers innovative MicroMatrix targeted delivery systems designed to stabilize, protect, and deliver bioactives effectively. Its portfolio includes integrated functional ingredients and technologies applicable to human and animal health, aquaculture, and dietary supplements. With over 40 patents, Advanced BioNutrition continues to explore new applications and markets, providing customizable solutions that enhance product development and performance across its diverse clientele.

Bluefire Security Technologies

Series B in 2002
Bluefire Security develops security software for wireless and mobile handheld devices.

Viracor-IBT Laboratories

Series A in 2002
Viracor-IBT Laboratories is dedicated to being the leading specialty diagnostics laboratory partner in allergy, immunology, and infectious disease testing. They provide doctors and hospitals the tests, results and support they need to deliver the best care possible, and they collaborate with pharmaceutical researchers to solve difficult problems and accelerate drug development.

Advanced BioNutrition

Venture Round in 2002
Advanced BioNutrition Corp. specializes in developing environmentally sustainable and science-based bioactive stabilization and delivery solutions for various industries, including human nutrition, health, agriculture, and food safety. Founded in 2001 and based in Columbia, Maryland, the company offers innovative MicroMatrix targeted delivery systems designed to stabilize, protect, and deliver bioactives effectively. Its portfolio includes integrated functional ingredients and technologies applicable to human and animal health, aquaculture, and dietary supplements. With over 40 patents, Advanced BioNutrition continues to explore new applications and markets, providing customizable solutions that enhance product development and performance across its diverse clientele.

Bluefire Security Technologies

Series A in 2001
Bluefire Security develops security software for wireless and mobile handheld devices.
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