Six Companies from TEDCO’s Rural Business Innovation Initiative Recognized in Salisbury University Competitions
Salisbury, MD (July 1, 2015) – Rural Business Innovation Initiative (RBI²) program, ran by the Maryland Technology Development Corporation (TEDCO), announced today that its companies have been recognized in Salisbury University’s Ratcliffe Shore Hatchery competition. In this contest, fifteen companies from the mid-Atlantic region ran for their share of $125,000 dollars in prize-money. Of the fifteen finalists, six were participants of TEDCO’s RBI² program and three of which received a portion of the prize-money.
The winning RBI² companies are:
- Paverguide – $35,000 , producer of a storm water green infrastructure system to be used with permeable pavers to capture storm water and reduce runoff
- Nuvu – $25,000, creator of a smartphone app to provide individuals a listing of local venues based on selected criteria for planning a night out.
- Operation Precision Systems -$5,000, creator of WaterOPS, a software program designed to manage EPA reporting and monitoring requirements for drinking water systems
Also winning $25,000 from the competition was Kitchology, a TEDCO portfolio company, designed to assist in balancing demands of money, time, and nutrition by allowing users to create and share recipes with one another to provide dishes with different nutritional benefits.
The RBI² program provides small companies and early-stage technology companies based in rural Maryland with technical and business assistance. Through the program, companies are given an RBI² business mentor, who assists in finding potential clients, and also contributes consulting services as well as technical management assistance. The RBI² mentors assisted these companies with business plan development, investor pitch development, and review of funding applications. For more information on the program and its mentors, please visit http://tedco.md/program/rural-business-innovation-initiative-rbi2/