TEDCO is an independent organization established in 1998 and located in Columbia, Maryland. It serves as the leading source of entrepreneurial business assistance and seed funding for the development of startup companies within Maryland's innovation economy. TEDCO focuses on early-stage companies across various sectors, including software, technology, energy equipment, life sciences, and oncology. Its mission is to foster innovation and economic growth in Maryland by supporting the growth of startups and enhancing the state's position in the entrepreneurial landscape.

The National Science Foundation (NSF) is an independent federal agency established in 1950 and based in Alexandria, Virginia. It is dedicated to supporting research and education in science and engineering across a wide range of disciplines. The NSF provides significant non-dilutive funding, up to $1.5 million, to startups and small businesses through its America's Seed Fund initiative, which is part of the Small Business Innovation Research (SBIR) program mandated by Congress. With an operating budget of approximately $7.8 billion, the NSF is committed to advancing fundamental research and education, thus fostering innovation and technological development in the United States.

The National Institutes of Health (NIH) is a leading biomedical research facility in the United States, operating under the Department of Health and Human Services. Established in 1887 and based in Bethesda, Maryland, NIH is the primary agency responsible for biomedical and health-related research in the country. It comprises 27 separate institutes and centers, each focusing on different disciplines within biomedical science. NIH conducts its own scientific research through the Intramural Research Program and provides significant funding for research at external institutions via the Extramural Research Program. With a workforce that includes 1,200 principal investigators and over 4,000 postdoctoral fellows, NIH has been instrumental in major medical breakthroughs, such as the development of vaccines for hepatitis and human papillomavirus, as well as the discovery of treatments for various health conditions. As the world's largest source of medical research funding, NIH continues to advance scientific knowledge and contribute to public health improvements.

The U.S. Department of Energy is a government agency established in 1977, located in Washington, D.C. Its primary mission is to ensure the security and prosperity of the nation by tackling energy, environmental, and nuclear challenges. The Department focuses on promoting transformative scientific and technological solutions to address these issues, thereby supporting the country's energy needs and environmental sustainability.

The University System of Maryland Momentum Fund, established in 2016 and based in Baltimore, Maryland, operates as a venture capital firm dedicated to investing in early-stage startups affiliated with the University System of Maryland. With a commitment of $10 million from USM, the fund aims to promote entrepreneurship, attract external investments, and stimulate economic development and technology commercialization within the region. The fund is sector agnostic, focusing on a diverse range of industries while prioritizing startups that are headquartered in Maryland and have connections to USM's member institutions. By leveraging the resources of its affiliated universities, the Momentum Fund seeks to enhance the entrepreneurial ecosystem and support the growth of innovative companies in the state.

The Abell Foundation is an independent non-profit organization based in Baltimore, Maryland, established in 1953. It focuses on addressing complex challenges related to urban poverty by providing grants to schools, hospitals, and human service organizations that serve disadvantaged communities. Over the past three decades, the foundation has refined its mission to prioritize innovative solutions that promote accountability and inclusivity. It aims to enhance the quality of life in various sectors, including community development, education, health and human services, criminal justice, and workforce development, while also supporting conservation/environmental efforts and the arts to a lesser extent. With assets exceeding $314 million, the Abell Foundation is one of the largest private foundations in Maryland, dedicated to creating opportunities for marginalized populations and fostering community success.

Blu Venture Investors is a venture capital and private equity firm focusing on seed and early-stage technology investments and related special situations such as acquisitions and spin-offs. It backs software, SaaS, cybersecurity, Internet of Things, digital media, and technology companies across B2B and B2C models, with interest in materials, chemical and biological sciences, and solutions for defense, homeland security, and intelligence communities. The firm targets the mid-Atlantic region—Maryland, Virginia, Washington, D.C., and North Carolina—and typically invests between $50,000 and $3 million per round, often syndicating larger rounds with partners. It aims to take majority stakes and provides board seats, advisory support, and, when needed, C-level executives. Founded in 2010 and headquartered in Vienna, Virginia, Blu Venture Investors combines capital with active mentorship from experienced operators to help early-stage companies scale.

Established in 2012 by Christopher College and Stuart Sutley, TCP Venture Capital is a venture capital firm headquartered in Hampstead, Maryland. It focuses on investing in early-stage technology companies based in Baltimore.

Gaingels is a venture investment syndicate founded in 2014 and based in Burlington, Vermont, dedicated to supporting the LGBT+ community and its allies. The organization invests in companies led by LGBT+ founders and executives at all stages of development, as well as in established firms committed to enhancing their diversity and inclusivity. With a global portfolio comprising over 130 companies and $70 million in investment capital deployed, Gaingels plays a vital role in fostering an inclusive business environment. Additionally, the Gaingels network actively assists its portfolio companies in identifying and recruiting diverse talent for their leadership teams, while cultivating a vibrant community of industry leaders, investors, and entrepreneurs committed to driving positive social change through business initiatives.

New Enterprise Associates is a venture capital firm founded in 1977 and based in Menlo Park, California, with offices in the United States, India and China. It makes investments across technology and healthcare startups at multiple stages, from seed to growth, including software, cloud, data, internet services, fintech, AI, e-commerce, and enterprise technology, as well as healthcare information technology, life sciences, medical devices, and biopharma. It also considers energy technology and infrastructure opportunities, such as solar, batteries and smart grids. The firm pursues a global approach, with activity in the United States, Asia and other regions, and supports companies through rounds of financing ranging from small to sizable investments as they scale. NEA focuses on building portfolios in software, IT services, consumer technology, and healthcare technology, backing ambitious entrepreneurs across sectors and geographies.

T. Rowe Price Group is a global investment management firm serving individuals, institutions, and retirement plans. It launches and manages equity and fixed income mutual funds and provides separate accounts and other advisory services to clients. The firm invests in public markets worldwide, using a combination of fundamental and quantitative analysis with a bottom-up approach, supported by in-house and external research. It emphasizes socially responsible investing with a focus on environmental, social, and governance factors. Founded in 1937, the company is headquartered in Baltimore and maintains a worldwide presence with offices across North America, Europe, Asia, and the Middle East.

DataTribe is a startup foundry based in Fulton, Maryland, established in 2015. The company focuses on investing in and co-building innovative startups that aim to make significant advancements in cybersecurity and data science. Founded by experienced investors and veterans from the U.S. intelligence community, DataTribe leverages its extensive network and professional expertise to provide companies with essential resources, including capital and in-kind services. By fostering collaboration and offering strategic support, DataTribe strives to give its startups a competitive edge in the rapidly evolving tech landscape.

Founded in 1989, OrbiMed is a New York-based healthcare-dedicated investment firm managing approximately $5 billion in assets. It invests across the spectrum of healthcare companies, from private start-ups to large multinational corporations, focusing on biopharmaceuticals, life sciences, digital health, medical devices, and diagnostics sectors globally.

Intersouth Partners is a Durham, North Carolina-based venture capital firm founded in 1985 that focuses on seed and early-stage investments in technology and life sciences companies. It targets software, semiconductors, communications, digital media, clean technology, and security in technology, and medical devices, biopharmaceuticals, agricultural biotechnology, and biomaterials in life sciences. The firm pursues lead or co-lead roles and aims to participate in the first institutional round with initial investments typically between 0.5 and 8 million dollars, continuing with leadership in later financings and an average total investment around 12 million across rounds. It seeks equity-only investments, takes board seats, and plans to exit investments within two to six years. The firm principally serves the Southeast corridor in the United States, including the DC area, the Research Triangle, Atlanta, and Florida, and invests in companies nationwide.

Alumni Ventures Group is a venture capital firm based in Manchester, New Hampshire, with offices across North America. It provides access to venture investing for individual accredited investors, particularly alumni networks, by offering diversified portfolios of venture opportunities and allowing members to invest alongside fellow alumni in ventures led by peers. The firm backs early-stage and later-stage opportunities across technology, consumer, healthcare, financial services, and other sectors, with a sector- and geography-agnostic approach. It typically invests between $10,000 and $3 million per deal and emphasizes the involvement of alumni connections and an institutional lead investor in opportunities. Alumni Ventures also offers focused funds to broaden participation, enabling accredited investors to access venture portfolios diversified by type, sector, stage, and geography. The model aims to democratize access to venture capital while maintaining rigorous selection standards through alumni networks.

Founded in 1871, Truist is a banking organization headquartered in Charlotte, North Carolina. It offers a wide range of consumer and commercial financial services including retail banking, small business lending, asset management, insurance, mortgage lending, investment brokerage services, wealth management, asset-based lending, commercial mortgage lending, leasing, payment solutions, supply chain financing, and commercial deposit services.

Warburg Pincus is a global private equity firm, established in 1966, with over $60 billion in assets under management. Based in New York, it has offices worldwide and invests in a diverse range of sectors, including energy, financial services, healthcare, technology, and real estate. The firm focuses on growth investing, typically committing between $20 million to $1 billion per transaction, and has an average investment period of five to seven years. Warburg Pincus seeks to partner with management teams to build sustainable companies, often taking a board seat and investing as a lead investor.

The Maryland Innovation Initiative (MII) is a collaborative program established between the State of Maryland and five prominent academic research institutions: Johns Hopkins University, Morgan State University, University of Maryland College Park, University of Maryland Baltimore, and University of Maryland Baltimore County. The initiative aims to foster the commercialization of research generated within these universities, utilizing their unique strengths to drive innovation. By facilitating partnerships and encouraging the transfer of knowledge and technology, MII seeks to enhance the economic development of Maryland and support the growth of emerging companies that arise from academic research.

Camber Creek is a venture capital investment firm focused on technology-related opportunities in real estate. Headquartered in Rockville with an office in New York, the firm concentrates on investing in real estate technology companies across the United States. It leverages expertise across real estate sectors such as construction, property management, development, and leasing, and combines investing, operating, and technology know-how with the assets of its partners, investors, and advisors to support the growth and success of its portfolio companies.

Rock Springs Capital is an investment company based in Baltimore, Maryland, established in 2013. It specializes in the healthcare and biotechnology sectors, offering advisory services that focus on managing security portfolios and providing portfolio management solutions for businesses and institutional clients. The firm aims to assist clients in optimizing their investment strategies and achieving their financial objectives through its comprehensive management services.

Ben Franklin Technology Partners of Southeastern Pennsylvania is a technology-focused capital provider based in Philadelphia, founded in 1982 to advance the region's technology community. The organization funds and supports technology companies across Pennsylvania, especially in information technology, health, and physical sciences, investing substantial capital in early-stage and established ventures. It has invested over 170 million dollars in more than 1,750 regional technology companies and has launched university-industry partnerships to translate scientific discoveries into commercial products, while seeding regional initiatives that strengthen the entrepreneurial ecosystem and create jobs.

Kinetic Ventures, established in 1983, is a venture capital firm based in Chevy Chase, Maryland, with an additional office in Atlanta, Georgia. The company specializes in early-stage investments, focusing on communications, information technology, and power/clean technology sectors. It typically invests between $2 million and $10 million in U.S.-based companies, with a preference for a Board seat in portfolio companies. Kinetic Ventures exits investments primarily through IPOs or acquisitions. The firm has a proven track record of partnering with exceptional entrepreneurs to build industry-defining companies.

Greenspring Associates, established in 2000, is a global investment firm headquartered in the United States. It specializes in fund of funds management, offering commingled funds and customized partnership solutions to a diverse range of international clients. The firm invests in established and emerging venture capital fund managers, early and growth-stage venture-backed companies, and secondary venture capital fund and direct investments. With over $7.3 billion in committed capital, Greenspring's dedicated team combines extensive expertise in both venture fund and direct investments.

Enhanced Capital, established in 1999, is a New York-based investment firm managing over $400 million. It specializes in providing flexible equity and debt financing to small and mid-sized businesses, promoting their growth and expansion. The firm's investment approach is practical and tailored, aiming to maximize the growth potential of companies poised for rapid growth. Enhanced Capital also invests in renewable energy, historic real estate rehabilitation, and affordable housing projects, often leveraging federal and state incentive programs.

Camden Partners is a United States-based investment firm founded in 1995 and based in the Baltimore, Maryland area. It acts as an asset manager providing growth and private equity capital to lower-middle-market companies, primarily in technology, software, education, healthcare, and business services. The firm pursues early to growth-stage investments across North America and Western Europe, applying sector knowledge and active involvement to help portfolio companies scale. Camden Partners emphasizes disciplined, fundamentals-driven approach and seeks long-term partnerships with management teams and other investors, including board-level engagement where appropriate. The company operates as a registered investment adviser and focuses on building lasting value through strategic capital and advisory support.

Lloyd’s is a global leader in specialty insurance, providing expertise-led solutions for complex risks. With over 200 territories covered by its expert underwriters and brokers, Lloyd’s facilitates human progress by developing innovative insurance products.

TDF Ventures LLC is a venture capital firm founded in 2004 and headquartered in Chevy Chase, Maryland, with additional offices in Washington, D.C., and Silicon Valley. The firm specializes in early-stage investments, primarily targeting seed stage and Series A companies across various sectors, including infrastructure, software, services, cybersecurity, artificial intelligence, and e-commerce. TDF Ventures typically invests between $0.5 million and $5 million per transaction, focusing on companies that enhance business processes, improve broadband access, or innovate in technology and communication. The firm seeks to engage actively with its portfolio companies and often considers co-investment opportunities. TDF Ventures is committed to supporting startups that address critical industry challenges and leverage emerging technologies to create value in enterprise markets.

Novak Biddle Venture Partners, established in 1997 and based in Bethesda, Maryland, is a private equity and venture capital firm focusing on early-stage investments in information technology companies. It specializes in seed, startup, and first round financing, with equity investments ranging from $100,000 to $10 million. The firm targets companies in the Mid-Atlantic region, with a focus on education, security, big data analytics, and business-to-business-to-consumer models. Novak Biddle also considers later-stage investments and spinouts, often syndicating larger rounds through its network. It aims for exits within five to seven years.

ABS Capital Partners, established in 1990, is a Baltimore-based growth equity firm. It focuses on investing in growth-oriented companies within the healthcare, business services, and tech-enabled services sectors across the United States. With a 30-year history, the firm supports companies beyond their initial growth spurt, helping them reach their full potential. ABS Capital Partners is registered as an Investment Adviser and has raised funds totaling $300 million in the past.

Highland Europe, established in 2012, is a venture capital firm headquartered in London, with an additional office in Geneva. The company invests in rapidly growing European internet, mobile, and software companies that have achieved product-market fit and are seeking to scale, with a focus on those targeting global expansion. They typically invest in companies with over €10 million in annualized revenues, providing capital to accelerate growth and build lasting, valuable businesses. Highland Europe works closely with management teams, offering mentorship and support to help founders navigate growth stages.

Moonshots Capital, established in 2014 and based in Austin, Texas, is a venture capital firm specializing in seed-stage investments. They focus on technology startups led by exceptional founders, targeting large and growing markets. The firm's investment approach is disciplined, aiming to identify companies with significant growth potential, often referred to as "moonshots." Their portfolio spans dual-use tech, fintech, cybersecurity, consumer internet, and web3 sectors.

Lockheed Martin Ventures, established in 2014, is a venture capital arm of Lockheed Martin Corporation. It focuses on investing in early-stage companies specializing in advanced technologies such as autonomous systems, cybersecurity, space technologies, and artificial intelligence.

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.

Sterling Partners, established in 1983, is a Chicago-based private equity firm focused on control equity investments in growth-oriented, lower and middle market companies, primarily in the United States. The firm targets businesses in sectors such as business services, healthcare services, and information technology, with a focus on companies having enterprise values between $20 million and $150 million, and EBITDA greater than $5 million. Sterling Partners invests between $2 million and $500 million of equity per company, seeking controlling or majority interests, and often acts as the first institutional investor. The firm's strategy involves leveraging its operational expertise, industry knowledge, and network to drive value in its portfolio companies.

Conscious Venture Lab is an early-stage business accelerator based in Baltimore, Maryland, established in 2013. The firm is dedicated to nurturing purpose-driven companies that aim to leverage capitalism for a more just, joyful, and equitable society. It focuses on various sectors, including cybersecurity, biotechnology, technology infrastructure, consumer products, and gaming, among others. Conscious Venture Lab typically invests between $25,000 and $50,000 for equity stakes of 5 to 10 percent. The accelerator runs a six-month program designed for teams with a minimum of three members. The initiative honors the legacy of David B. Wolfe and incorporates insights from leading thinkers in Conscious Capitalism, fostering the development of "Companies that Matter."

Anne Arundel Dermatology operates a network of dermatology clinics focused on delivering comprehensive skin care services. The company specializes in various aspects of dermatology, including general, cosmetic, medical, surgical, and pediatric care. It also provides advanced treatment options for skin cancer and a range of cosmetic procedures. By offering a full suite of dermatological services, Anne Arundel Dermatology aims to address the diverse skin care needs of its clients, ensuring effective and reliable treatment solutions.

Sachs Capital is a private equity and investment management firm founded in 2007 and based in Potomac, Maryland. The firm targets private investment opportunities that are overlooked by larger venture capital and private equity funds, providing patient, value-added capital in the form of minority, non-control equity in private operating companies. Its investment approach emphasizes long-term capital appreciation with controlled operating and financial risk, focusing on solid valuation, strong business fundamentals, capable management, and sound corporate governance. Sachs Capital pursues a flexible set of financing strategies, including growth capital, management or partner buyouts, acquisitions, refinancing, recapitalization, working capital, and owner liquidity, often delivering non-controlling capital to entrepreneurs and family-owned or private firms seeking strategic support.

301 Ventures is a student-run venture fund based in College Park, Maryland, focused on supporting entrepreneurs affiliated with the University of Maryland and the greater Washington, D.C. area. Established in 2015, the fund manages $500,000 and specializes in making pre-seed investments in companies founded by University of Maryland students and alumni. Its primary aim is to accelerate product development and prepare these startups for future funding opportunities.

Bonsal Capital is a family private equity firm based in Baltimore, Maryland, founded in 1999 by Frank A. Bonsal, Jr., a co-founder of New Enterprise Associates. The firm focuses on mission-driven investments primarily in the Capital Region, targeting technology-enabled services in education and workforce development, as well as the information technology and life sciences industries.

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.

Enlightenment Capital, established in 2012 and based in Chevy Chase, Maryland, is a private investment firm specializing in the Aerospace, Defense, Government & Technology sector. The firm offers creative capital solutions, including senior debt, mezzanine debt, and minority equity, to support and grow businesses within this field. With a team that has extensive experience and deep ties to the industry, Enlightenment Capital partners with top-tier management teams and equity sponsors to build quality companies that lead their respective fields. The firm's investment strategy is driven by its understanding of the sector's advances, policies, and dynamics, enabling it to provide informed and tailored capital solutions to businesses delivering mission-critical products and services.

Alexandria Real Estate Equities is a prominent real estate company specializing in urban office spaces primarily for life science, agtech, and technology tenants. The company is recognized for its development of Class A properties in key markets such as Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle. Alexandria focuses on creating dynamic and collaborative environments that foster innovation and growth. In addition to leasing space, the company offers a range of services including engineering, asset management, laboratory operations, project management, and sustainability initiatives, enhancing the operational efficiency of its tenants. With a strong commitment to urban development, Alexandria aims to support transformative advancements in the life sciences and technology sectors.

Slate Capital Group is a private equity firm based in Baltimore, Maryland, established in 2004. The firm specializes in investments throughout a company's life cycle, ranging from growth equity to leveraged buyouts. It primarily targets light manufacturing, distribution, and service businesses, including sectors such as business services, healthcare services, for-profit education, niche software, direct marketing, food and beverage, and consumer and retail markets. Slate Capital Group focuses on companies located in the Mid-Atlantic region and considers those based east of the Mississippi River. The firm typically invests in companies with cash flows between $0.5 million and $5 million and EBITDA ranging from $3 million to $15 million. While it prefers to acquire controlling interests, the firm is also open to minority investments.

Northpond Ventures is a venture capital firm based in Bethesda, Maryland, with additional offices in San Francisco and Cambridge. Founded in 2018, the firm specializes in growth capital investments across various sectors, including life sciences, biotechnology, diagnostics, digital health, and emerging technologies. Northpond Ventures aims to support innovative companies that are poised to make significant advancements in healthcare and technology, with a focus on building a better future through its strategic investments. As a Registered Investment Adviser, the firm is committed to fostering developments in therapeutics, artificial intelligence, machine learning, and medical technology.

DFW Capital Partners is a private equity firm specializing in lower-middle-market investments. It targets mature-stage growth capital, management-led buyouts, and acquisitions to support industry consolidation in healthcare, business services, and industrial and technology-enabled services. The firm seeks to invest in service companies that utilize technology in a proprietary way and often takes minority or majority stakes with board representation. Primary target areas include healthcare services, outsourced business services, IT and information management services, financial and HR support, logistics, and contract manufacturing. Deal sizes typically range from several million up to tens of millions per transaction, with the ability to invest larger sums with institutional co-investors, and revenue benchmarks generally spanning from roughly $15 million to $150 million with EBITDA in the mid-single digits to low-teens. Financing structures include equity and subordinated debt with warrants, and turn-key financing packages are provided to facilitate add-on acquisitions. DFW Capital Partners was founded in 1983 and is headquartered in Teaneck, New Jersey, with additional offices in the Washington, DC area and Maryland.

Founded in 1856, University of Maryland is a renowned public research university located in College Park, Maryland. It is dedicated to research, entrepreneurship, and innovation.

Durable Capital Partners is an investment firm founded in 2019 and headquartered in Bethesda, Maryland. It targets small- and mid-cap companies across public and private markets and focuses on identifying compounders, employing long/short equity strategies.

Founded in 2004, Red Abbey Venture Partners is a life sciences investment firm based in Lutherville-Timonium, Maryland. It invests across the spectrum of biotechnology, specialty pharmaceuticals, medical devices, diagnostics, and research tools companies, aiming to generate superior risk-adjusted returns by supporting young companies developing innovative drugs, devices, and enabling technologies.

Grit Capital Partners is a venture capital firm founded in 2015 and based in New York, with an additional office in Hunt Valley, Maryland. The firm specializes in early-stage investments, focusing on high-potential entrepreneurs who aim to disrupt industries through technology and data. Grit Capital Partners typically invests its own capital and prioritizes companies with at least one technical co-founder. It seeks opportunities primarily in sectors such as financial services, commerce, media, and healthcare information technology. The firm leverages its extensive network of entrepreneurs, executives, and technology veterans to support its portfolio companies and enhance their chances of success.

Gula Tech Adventures, Inc. is a venture capital firm based in Ellicott City, Maryland, that specializes in investing in early-stage start-ups within the cybersecurity sector. Founded in 2017, the firm focuses on seed and Series A investments, particularly in areas such as cyber hygiene, threat management, security engineering, and national security technology. The founders, Ron and Cyndi Gula, are veterans of the cybersecurity industry, having previously co-founded Tenable Network Security. They leverage their extensive experience to support the next generation of cybersecurity start-ups by providing funding, assisting with product development, and guiding capital raises. Gula Tech Adventures aims to foster innovation and growth in the cybersecurity landscape.