The Social Impact Funds are purposefully designed to engage and invest in economically underserved founders and communities.
Donor Name: Maryland Technology Development Corporation
State: Maryland
County: All Counties
Type of Grant: Grant
Deadline:12/31/2025
Size of the Grant: $500,000 to $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
TEDCO want to optimize the path to follow-on funding; many companies show a path to sustainability without the need for venture capital. TEDCO is pleased to be one of the direct participants in the deployment of Maryland’s State Small Business Credit Initiative (SSBCI), which supports our Social Impact Funds. They want to optimize the path to follow-on funding; many companies show a path to sustainability without the need for venture capital.
Both the Pre-Seed Builder Fund and the Inclusion Fund have minimum ownership requirements by individuals who demonstrate economic disadvantage. However, Maryland has a strong entrepreneurial ecosystem and oftentimes there are other business resources, including at TEDCO, available for our startups to grow their business.
Pre-Seed Builder Fund
Who should apply?
TEDCO welcomes pre-seed technology startups from all industries to apply. However, to be applicable, a company must meet all the following qualifications:
- Principal place of business is in Maryland
- At least one full-time employee
- No less than 50% of founders demonstrate economic disadvantage
Investments
The Builder Fund typically invests in amounts up to $750,000 via convertible notes. Funded companies are also provided Builder Fund resources which may include both hands-on and educational executive support, peer-to-peer mentorship/collaboration, and networking opportunities.
Inclusion Fund
The Inclusion Fund focuses on investment opportunities that are often overlooked by traditional sources of investment and financing due to economic disadvantage. One of the biggest challenges is the gap between pre-seed and seed funding for these early-stage technology businesses and the Inclusion Fund seeks to invest in these companies. Ultimately, the companies create jobs in the State and become attractive candidates for follow-on financing or investing.
Who should apply?
TEDCO welcomes early-stage technology startups from all industries to apply. However, to be applicable, a company must meet all the following qualifications:
- At least one full-time employee
- The founder, officers, or managers of the Company agree to receive executive support
- At least 30% ownership of the Company owned by one or more individuals who have demonstrated social and economic disadvantage
- For at least one year after receiving TEDCO’s investment, will the Company be controlled and managed by one or more individuals who have demonstrated social and economic disadvantage
For more information, visit TEDCO.
