FounderTrac Wins Maryland TEDCO Incubator Challenge Grant, Accepting Applications
FOR IMMEDIATE RELEASE
Partnership between LAUNCH! Annapolis, Maryland Tech Council, MCVC Partners, and Annapolis Ventures to Bring Community-based Accelerator to Maryland’s Capital
ANNAPOLIS, MD, OCTOBER 26, 2017 — Yesterday at the TEDCO Entrepreneur’s Expo, George Davis, CEO of TEDCO announced the winners of the 2017 Incubator Challenge. FounderTrac was awarded a grant of $125,000 to support and expand the reach of the FounderTrac Program. In presenting the award to FounderTrac, George Davis said, ”We are so excited to fund this innovative collaboration between launch Annapolis, Maryland Tech Council and MCVC partners to give Maryland companies the training, mentoring and funding they need to be top tier companies. FoundersTrac rocks!”
FounderTrac is an Annapolis based startup accelerator with a 12 week program to help Entrepreneurs take their companies from idea to high growth. Applications for the January, 2018 program are now being accepted at http://foundertrac.com.
Accepting the TEDCO award for FounderTrac were Ryan Sears, Founder of FounderTrac and serial entrepreneur, Tami Howie, Chief Executive Officer of the Maryland Tech Council, and Jeffrey Mund, Founding Partner, MCVC Partners. Delighted to receive the award and excited to work with TEDCO Ryan Sears said, “The award is a major step forward for the entrepreneurial and startup community of Maryland. TEDCO’s leadership will allows us to expand the reach and frequency of the FounderTrac program building on the success of the 2017 cohort. TEDCO showed great leadership and courage not only creating this challenge but also going to the extraordinary step of funding all 6 finalists. We look forward to this partnership.”
As a Maryland native and graduate of the Naval Academy, Jeff Mund lauded the positive initiative of TEDCO and FounderTrac, “I am honored to provide leadership for this venture. Working alongside Ryan and Tami continues to be a great pleasure and an exciting opportunity to expand the resources of the unique startup community of Maryland.” Tami Howie continues to be a visionary leader for the business community in Maryland. About FounderTrac, she said, “When I first met Ryan and Jeff, I knew this was a dream team for entrepreneurship in Annapolis. The MD Tech Council is pleased to be able to add their unparalleled ability to connect the broader business community to the entrepreneurial and startup community through this venture. Tedco has really made a huge statement to the world that they believe in Maryland companies by putting close to $1 million behind the incubator challenge and backing all six finalists. MTC, with FounderTrac, is honored to be a recipient of one of these grants.”
FounderTrac’s truly holistic approach to fostering businesses from idea to revenue brings together all the resources needed for success to create a truly innovative incubator. The success of the community relies upon combining many resources into one cohesive community. The components of the community are:
- Community outreach through Launch! Annapolis and its many partners
- The proven and innovative FounderTrac curriculum delivered by successful entrepreneurs and executives
- Mentoring and Fractional C-Level support through Maryland Tech Council and MCVC Partners
- Seed funding through a dedicated Venture Capital fund
- The development of coworking space through Annapolis Ventures
Startups who are accepted into the program participate in a 12 week curriculum led by successful entrepreneurs and executives, are matched with a executive sherpa, and are given the opportunity to gain funding from a dedicated venture capital fund. Support for participants does not end with graduation. Graduates may enlist in the MIT licensed Maryland Tech Council mentorship program and are encourage to continue their engagement in the FounderTrac/Launch Annapolis community.
FounderTrac’s first program, launched in January of 2017, was a resounding success with several of the graduates gaining funding and and fostered an ongoing collaboration among the participants and the growing startup community. The TEDCO grant and TEDCO involvement will provide valuable seed funding and support to allow FounderTrac to increase the frequency and expand the reach of the program. Though the original incubator challenge called for awarding only two grants, TEDCO took the unusual step of awarding grants to all six of the finalists in the challenge. FounderTrac looks forward to working with TEDCO and all of the other grant recipients to develop and expand the startup culture and entrepreneurial environment of Maryland.
FounderTrac is a community-based accelerator located in Annapolis, MD. FounderTrac utilizes a holistic approach to fostering and promoting startups and entrepreneurship in Maryland. Entrepreneurs are a diverse and changing community that require a complex network of educational and support resources. FounderTrac works with the community to gather and coordinate these resources to provide the greatest chance of success. Built by entrepreneurs for entrepreneurs, FounderTrac embraces the diversity of Maryland by fostering a truly inclusive community. For more information, visit http://foundertrac.com
MCVC Partners, a venture capital fund, helps leaders and organizations practice “virtuous commerce.” MCVC Partners helps teams focus, execute, and celebrate their vision while balancing their value proposition with social impact. For more information, visit http://www.mcvcpartners.vc
The Maryland Tech Council
The Maryland Tech Council (MTC) is the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. MTC’s mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed. For more information, visit http://www.mdtechcouncil.com
VP Partnerships & Entrepreneurship
The Maryland Tech Council (MTC)