TEDCO Announces Developments in New Executive Exchange Program
COLUMBIA, Md. (Feb. 24, 2015) – The Maryland Technology Development Corporation (TEDCO) announced today the first recipients of its new Executive Exchange Program. Two start-up companies have been provided with Loaned Executives, one start-up company has been provided with an Executive Coach and three new executive roundtables directed at specific start-up executives are up and running.
“The interest in Executive Exchange within the TEDCO portfolio has been extremely gratifying,” said Rob Rosenbaum, President and Executive Director of TEDCO. “We saw a market need and responded by developing a program that extends Maryland’s leadership with a broadening array of entrepreneurial assistance efforts in a unique new way.”
Recipients of TEDCO’s Executive Exchange Program are as follows:
- RedShred, LLC and White Box Corporation are each receiving the assistance of a TEDCO Loaned Executive.
- Sol Vista LLC’s executive team is receiving the assistance of an Executive Coach.
- A professionally facilitated executive roundtable focused on Maryland Innovation Initiative funded start-ups is now active.
- Through collaboration with EdTech Maryland, a professionally facilitated executive roundtable focused on education technology start-ups is in place.
In just four months, total of more than 40 start-ups have participated in Executive Exchange programs.
“I was thrilled to gain TEDCO’s approval of my Executive Exchange application,” said Jeehye Yun, Founder of RedShred LLC. “We believe that our disruptive new technology is truly world-class, and with assistance of our Loaned Executive we’ll now be able to quickly get it in the hands of our customers where it will help them create new sales in a much more efficient fashion.”
Executive Exchange is a multi-layered initiative designed to cut across all TEDCO funding programs by offering supplemental stage-appropriate assistance to portfolio and, in some cases, potential portfolio entrepreneurs and their companies. TEDCO hopes to impact as many as 80 additional startup ventures with this new Program in its first year. Initially, the net new elements of Executive Exchange – Loaned Executive, Executive Coaching, and CEO Roundtables – will be directed at TEDCO Technology Commercialization Fund and Maryland Innovation Initiative portfolio companies. Candidates should express their interest in participating through their TEDCO portfolio manager or RBI² representative.
The Maryland Technology Development Corporation (TEDCO) is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market. For more than a decade, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments and manages private capital for angel and venture capital funds. It is frequently ranked as one of the most active seed/early-stage investors in the nation. The organization plays a key role in bringing research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace. For more information on TEDCO and its programs and resources, visit www.TEDCO.md.