Press Releases

January 2016

TEDCO Charts New Direction

Wasilisin Promoted to President, COO as Rosenbaum Resigns

COLUMBIA, MD (1/29/16) — The Maryland Technology Development Corporation (TEDCO) announced today that Robert A. Rosenbaum has resigned as President and Executive Director of the organization, effective immediately. Mr. Rosenbaum intends to pursue other interests.

Newt Fowler, Chair of TEDCO’s Board of Directors, states, “The entire Board wishes Rob well in his future endeavors. During his five-plus years with TEDCO, the organization has continued to serve effectively as Maryland’s go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market.”

Fowler adds that TEDCO will begin a nationwide search to find a new CEO. John Wasilisin, who has been TEDCO’s Executive Vice President and Chief Operating Officer since 2007, has been promoted to President and Chief Operating Officer, effective immediately.

“John has a long and distinguished leadership career in business and government service, including 38 years in economic and workforce development,” notes Fowler. Before joining TEDCO, Wasilisin served as Deputy Secretary of the Maryland Department of Budget and Management and Deputy Secretary of the Department of Labor, Licensing and Regulation. Prior to that, John was the Chief Administrative Officer for Baltimore County Government.

“With the support of both TEDCO’s incredible, highly capable staff and our Board of Directors – all of whom are dedicated to entrepreneurial assistance – I have every confidence that TEDCO will continue to be the lead source for entrepreneurial business assistance and seed funding in Maryland, helping to foster the development of startup companies that are at the heart of this state’s innovation economy,” Wasilisin says.

TEDCO is Maryland’s leading source for entrepreneurial business assistance and seed funding for the development of start-up companies in the state. In Maryland and beyond, TEDCO is a resource of mentoring, funding, and networking for entrepreneurs and start-ups that need guidance as they bring innovative concepts to market.

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 the market. For more than a decade, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. Founded by the Maryland General Assembly, TEDCO 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 program and resources, visit www.TEDCO.md.

Contact: Fulya Gursel, 410-715- 4178
or fgursel@tedco.md