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

Past deals in Maryland

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.

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.

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.

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.

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.

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.

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.

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.

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.
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