This week, TEDCO announced that its Maryland Innovation Initiative (MII) program has awarded $18 million to more than 180 commercialization projects and 45 start-up companies since its inception in late 2012. Awards were given across a variety of industries, including therapeutic, software, medical devices and engineering. 

TEDCO went on to state that MII-funded start-up companies have been successful in getting follow-on funding – totaling $21 million from federal funds, angel investors and venture capital firms. Among the examples of companies featured as this type of startup was MF Fire, developer of the Catalyst Stove, the first ultra-clean wood stove (emitting less smoke than a single cigarette), licensed from University of Maryland, College Park. The company recently raised $185,000 through the SEC’s new regulated CrowdFunding provision.

Click here to read the full TEDCO press release