3 Baltimore cyber firms selected for TEDCO investment
Three Baltimore-area cyber security companies are the first to receive investments from a new state fund dedicated to cyber startups.
Strajillion and Protenus, both in Baltimore; and University of Maryland, Baltimore County, incubator resident Ridgeback Network Defence were each awarded $100,000 from the Cybersecurity Investment Fund, a program of the Maryland Technology Development Corporation (TEDCO).
The cyber fund, new this year, will support one of the fastest-growing technology niches in the state as TEDCO faces unprecedented demand for its startup awards. Maryland’s entrepreneurship and tech commercialization organization was able to support only 30 percent of the companies — 115 out of 373 — that applied for its various loan, grant and investment programs last year.