Home Anne Arundel County Anne Arundel Economic Development Corp. awards first VOLT growth fund loan

Anne Arundel Economic Development Corp. awards first VOLT growth fund loan

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The Anne Arundel Economic Development Corp. (AAEDC) has awarded a loan of $100,000 to the first small business to benefit from its VOLT Growth Fund Crownsville-based Plus Up.

“It’s exciting to see such an innovative business be the first beneficiary of the VOLT Growth Fund” said AAEDC CEO Ben Birge. “Plus, Up aligns well with the program’s goal of helping local companies establish innovative products like Goodtimer in the market and create jobs. It’s certainly a unique way for AAEDC to deploy a portion of the state’s Video Lottery Terminal (VLT) funding.”

Founder Adam Ashley has already begun putting the VGF capital to work by purchasing the additional inventory required to meet growing consumer demand for Goodtimer, an electronic educational toy backed by neuroscience that encourages kids to form healthy habits using positive reinforcement, tangible incentives, and family participation.

With an eye toward the back-to-school and holiday season, he has also invested in several marketing initiatives that will help build on the momentum of Goodtimer being named one of just 14 national finalists in the 2021 Amazon Launchpad Innovator of the Year contest.

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“We’ve definitely grown quickly, having launched Goodtimer a little less than two years ago, but our goal is to build a brand that will be recognized as a true market leader in providing modern families with positive parenting tools and resources that will help their children establish a foundation for success,” said Ashley. “We’re excited to pursue this goal with the help of our VGF funds, and incredibly proud to be the first recipient of them.”

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