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Thanks in part to the region’s abundant resources and business friendly environment, RedOwl Analytics has rapidly progressed from a modest startup to a Maryland success story, co-founder Renny McPherson recently explained in the Huffington Post.
The cybersecurity company—which analyzes complex data trails to increase digital situational awareness—has built a reputation as one of the state’s leading digital security businesses. RedOwl Analytics won the $100,000 grand prize in the inaugural 2013 InvestMaryland Challenge, sponsored by the Maryland Department of Business and Economic Development, and more recently, was named “Most Innovative Company” at RSA Conference 2014.
In his blog post, McPherson spotlights several reasons why his company is thriving in Baltimore, including access to talent, the emerging tech environment, access to bigger companies, proximity to investors and an entrepreneur-friendly government.
RedOwl Analytics’ founders have taken advantage of opportunities for state-sponsored funding. McPherson writes, “The state of Maryland announced $84 million in investment for the ‘innovation economy’ just a month after we settled on Baltimore in March 2012. After that good omen, we entered the inaugural InvestMD challenge in 2013 and won our IT software/hardware category. The competition itself forced us to better define our company strategy, and the $100,000 prize for first place went towards hiring more technical talent.”