Maryland Department of Business and Economic Development

The Maryland Department of Business and Economic Development (DBED) is dedicated to fostering a favorable business environment in the state. Through its platform, ChooseMaryland, the department provides essential resources and programs for businesses of all sizes, including information on financing, workforce training, exporting, and assistance for small and minority enterprises. DBED's primary objectives are to attract new businesses, stimulate private investment, create jobs, and support the growth and retention of existing companies. Additionally, the department plays a vital role in marketing Maryland's economic advantages and local products both domestically and internationally, thereby enhancing development, trade, and tourism. Recognizing the importance of cultural and special events, DBED also supports initiatives in the arts, film production, and sports. By promoting a positive business climate and ensuring equitable prosperity across the state, the department positions Maryland as a key player in the New Economy.

Renee M. Winsky

Executive Director

Past deals in Maryland

Link Labs

Series A in 2015
Link Labs is a provider of an end-to-end Internet of Things (IoT) platform focused on tagging, locating, and monitoring equipment, supplies, and assets across various sectors, including construction, healthcare, logistics, manufacturing, and warehousing. Founded in 2014 by engineers from the Johns Hopkins University Applied Physics Lab, the company is headquartered in Annapolis, Maryland, and holds over 20 patents for its technological innovations. Link Labs is recognized for its flagship product, AirFinder, which allows for easy and effective asset management by integrating advanced intelligent radio-frequency identification and low-power IoT network technologies. This platform enables businesses to monitor and manage their assets in real-time, delivering both affordability and high performance while handling billions of IoT events each month.

TRX Systems

Series A in 2012
TRX Systems is a developer of indoor location solutions that provide precise, infrastructure‑free tracking in environments where GPS is unavailable. Its flagship NEON platform includes a wearable sensor unit, software for real‑time mapping, and APIs that fuse data from Wi‑Fi, Bluetooth, GPS, and time‑of‑flight ranging to deliver accurate positioning for personnel and assets. The NEON Personnel Tracker is used by industrial, security, public‑safety, and defense customers, while the NEON Signal Mapper offers 3‑D location for indoor test and measurement. Sensors are embedded in mobile phones, radios, and industrial devices, enabling seamless integration across commercial and mission‑critical applications. Founded in 2001, the company is headquartered in Greenbelt, Maryland, and sells its products through online channels.

Zymetis

Grant in 2010
Zymetis is a biotechnology company founded in 2006 by Dr. Steve Hutcheson at the University of Maryland, focused on producing affordable next-generation transportation fuels. The company specializes in the development of ethanol and other biofuels derived from various plants and plant waste, utilizing innovative cellulosic sources. Zymetis leverages novel enzymes to enhance production processes, aiming to achieve lower costs while improving yields and efficiencies in biofuel production. Recognized for its contributions to green technology, Zymetis was named to the GoingGreen East 50 Top Company List in 2009, highlighting its role in advancing sustainable energy solutions.

NeuroNascent

Grant in 2008
Founded in 2004, NeuroNascent is a biopharmaceutical company dedicated to developing first-in-class therapeutics targeting depression and neurodegenerative disorders such as Alzheimer's and Parkinson's disease. Its pipeline includes NNI-362 for Alzheimer's, NNI-351 for depression/PTSD and Down syndrome, and NNI-370 for Parkinson's disease.

Sirnaomics

Venture Round in 2007
Sirnaomics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing targeted therapeutics for significant human diseases using RNA interference (RNAi) technology. Founded in 2007 and headquartered in Gaithersburg, Maryland, with additional offices in Cambridge, Massachusetts, and facilities in Suzhou and Guangzhou, China, Sirnaomics is dedicated to addressing critical medical needs in oncology, anti-fibrotic therapeutics, and viral infections. The company's product portfolio includes several small interfering RNA (siRNA) therapeutics such as STP705 for scar reduction, STP909 for colon cancer, and STP900 for HPV and cervical cancer, among others. Sirnaomics employs proprietary Polypeptide Nano-Particle (PNP) technology to enhance drug delivery, allowing effective targeting of the tumor microenvironment and various cell types, particularly in the liver. Through its innovative approach, Sirnaomics aims to create impactful treatments for diseases with large market opportunities.

Three Stage Media

Series C in 2007
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Crescent Biopharma

Series B in 2006
GlycoMimetics, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of innovative glycomimetic drugs aimed at addressing significant unmet medical needs associated with diseases influenced by carbohydrate biology. The company’s lead drug candidate, rivipansel, is a pan-selectin antagonist that has completed Phase III clinical trials for treating vaso-occlusive crises in sickle cell disease. Additionally, GlycoMimetics is developing uproleselan, an E-selectin inhibitor that is being tested in combination with chemotherapy for acute myeloid leukemia (AML) and in a Phase III trial for relapsed/refractory AML. The company also offers GMI-1359, which targets E-selectin and a chemokine receptor, having completed Phase I clinical trials, and is involved in developing other candidates, including GMI-1687 and Galectin-3. GlycoMimetics has established research collaborations, including an agreement with the National Cancer Institute and a partnership with Apollomics for the commercialization of uproleselan and GMI-1687. Founded in 2003, the company is headquartered in Rockville, Maryland.

Three Stage Media

Series B in 2006
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Crescent Biopharma

Series A in 2004
GlycoMimetics, Inc. is a clinical-stage biotechnology company dedicated to the discovery and development of innovative glycomimetic drugs aimed at addressing significant unmet medical needs associated with diseases influenced by carbohydrate biology. The company’s lead drug candidate, rivipansel, is a pan-selectin antagonist that has completed Phase III clinical trials for treating vaso-occlusive crises in sickle cell disease. Additionally, GlycoMimetics is developing uproleselan, an E-selectin inhibitor that is being tested in combination with chemotherapy for acute myeloid leukemia (AML) and in a Phase III trial for relapsed/refractory AML. The company also offers GMI-1359, which targets E-selectin and a chemokine receptor, having completed Phase I clinical trials, and is involved in developing other candidates, including GMI-1687 and Galectin-3. GlycoMimetics has established research collaborations, including an agreement with the National Cancer Institute and a partnership with Apollomics for the commercialization of uproleselan and GMI-1687. Founded in 2003, the company is headquartered in Rockville, Maryland.

Three Stage Media

Venture Round in 2004
Three Stage Media, Inc. provides online media and marketing solutions for the tradeshow industry. The company focuses on developing online event portals that serve as an online show guide, search engine, and event-planning interface for attendees. It offers eventLeads for tradeshow registration process; eventAds for display media placements within show portals, show-floor kiosks, and e-newsletters; eventVideo that enables users to place custom streaming video news station on supplier microsite within the online event portal; eventMobile, which enables users to connect with on-site attendees; and eventMetrics for pre- and post-show performance reports. The company also provides eventPortal, an online show portal equipped with search engine, attendee event-planning interface, and comprehensive supplier directory; eventMarketing for lead generation, online advertising, search engine marketing, video advertising, and mobile marketing; and eventMetrics that provides data highlighting existing exhibitor performance and the opportunity afforded prospective exhibitors. It serves show organizers, exhibitors, and attendees. Three Stage Media, Inc. was formerly known as BDMetrics, Inc. and changed its name in January, 2009. The company was founded in 2001 and is headquartered in Baltimore, Maryland.

Qovia

Series B in 2004
Qovia is a company that specializes in voice over Internet Protocol (VoIP) telephony monitoring and management technologies. Founded in 2002 and based in Frederick, Maryland, Qovia develops software products designed to monitor and manage voice quality on VoIP telephone systems. Its solutions cater to a diverse range of customers, including school districts, government agencies, law enforcement, banking and financial institutions, call centers, and voice carriers. By leveraging internet technology to enhance voice communication, Qovia positions itself at the forefront of next-generation phone systems.

Qovia

Series A in 2003
Qovia is a company that specializes in voice over Internet Protocol (VoIP) telephony monitoring and management technologies. Founded in 2002 and based in Frederick, Maryland, Qovia develops software products designed to monitor and manage voice quality on VoIP telephone systems. Its solutions cater to a diverse range of customers, including school districts, government agencies, law enforcement, banking and financial institutions, call centers, and voice carriers. By leveraging internet technology to enhance voice communication, Qovia positions itself at the forefront of next-generation phone systems.
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