Home Business News TEDCO awards 45 grants to Maryland businesses hit hardest by the pandemic

TEDCO awards 45 grants to Maryland businesses hit hardest by the pandemic

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Maryland’s economic engine for technology companies, announced its Rural and Underserved Business Recovery from Impact of COVID-19 (RUBRIC) program has awarded grants to 45 Maryland companies, including Howard County’s Hawkeye MedTech and NetGlo Corp.

RUBRIC was created as an economic relief initiative designed to benefit socially and economically disadvantaged and rural early-stage technology-based businesses hit hardest by the COVID-19 pandemic. Funding for the RUBRIC program was announced in December 2020 as part of Gov. Larry Hogan’s state emergency economic relief package.

“The RUBRIC program focused on companies that had the highest barriers to traditional financing, but are still expected to scale to the next phase of fundraising,” said TEDCO’s CEO and executive director, Troy LeMaile-Stovall. “It was important for us to target companies that were considered socially or economically disadvantaged as well as those in the rural areas of Maryland that were hardest hit by the COVID-19 crisis.”

Funds for the RUBRIC program have been fully deployed and the program will no longer be accepting applications. For more information, visit www.tedcomd.com/funding/rural-and-underserved-business-recovery-impact-covid-19-rubric.

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