Executive Exchange Program
Executive Exchange is a multi-tiered initiative designed to cut across all TEDCO funding programs by offering supplemental stage-appropriate assistance to portfolio company entrepreneurs. The integrated nature of the initiatives that make up this Program are unique within the State and will extend Maryland’s existing array of entrepreneurial assistance efforts – helping executives grow and mature alongside their start-ups translates into higher success rates for their ventures.
The Executive Exchange Program consists of six elements:
- Loaned Executives will be provided to lead a start-up team through a critical inflection point.
- Executive Coaching will help entrepreneurs mature alongside their ventures.
- CEO Roundtables will facilitate peer-to-peer support among entrepreneurs.
- Portfolio Workshops will continue to address topics of interest to groups of entrepreneurs.
- Maryland Entrepreneurs Resource List (MERL) members will continue to assist entrepreneurs.
- TEDCO Staff & Rural Business Initiative (RBI²) representatives will continue to assist entrepreneurs.
For many years now, TEDCO’s portfolio workshops and the coaching and mentoring provided by its staff, RBI² representatives and MERL team have been excellent resources for entrepreneurs. There’s a tremendous and logical leveraging effect that results from packaging all of those ongoing efforts alongside three new initiatives into a single integrated program.
The more intensive elements of Executive Exchange (Loaned Executive and Executive Coaching) will be directed at TEDCO’s Seed Investment Fund, Technology Commercialization Fund, Cybersecurity Investment Fund, and Maryland Innovation Initiative (Phase 3 and Company Formation Phase) portfolio companies.
TEDCO internally funds only six Loaned Executive Program engagements each fiscal year and, as such, applicants should expect strong competition for this assistance. In addition to making a determination of the applicant’s ability to attract downstream funding, TEDCO’s evaluation criteria include, but are not limited to, the following: 1) size of total Addressable Market, 2) strength of competitive insulation, 3) rate of paying customer acquisition, 4) strength of team, and 5) scalability of business model
Candidate companies and entrepreneurs may express their interest in participating through their TEDCO portfolio manager or RBI² representative. Please see the Executive Exchange Program Description for details on each element of the Program. The Application guideline documents provide details on the application process.
TEDCO has an open request for qualifications for executive coaches and roundtable facilitators. Consultants interested in being considered for these new initiatives should submit a one page letter expressing that interest, and a short statement of qualifications and experience in PDF format (maximum of five pages) to firstname.lastname@example.org. Please note that this Request for Qualifications is open-ended and, as such, it is expected that consultants will be continually added to the pool.
Director, Entrepreneurial Development