COLUMBIA, Md. (March 20, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $500,000 Maryland Equity Investment Fund (MEIF) investment in Innate Technologies, Inc. The MEIF – which is housed under TEDCO’s Venture Funds – was created to increase private equity and venture capital in Maryland, generate financial returns, and foster economic growth.
“Our goal at Innate Technologies is to provide a solution that will fill the current void in digital manufacturing practices – data integration,” said Shawn Springs, founder and CEO of Innate Technologies, Inc. “Thanks to TEDCO’s investment we can continue our mission to revolutionize manufacturing through data collaboration.”
Innate Technologies, Inc., headquartered in North Bethesda, Md., has a mission to deliver innovative software solutions for the digital manufacturing sector. Combining cutting-edge technology with industry expertise, they look to empower businesses by bridging the gap between sales and production teams, fostering smarter manufacturing practices.
Their flagship product, the InnateIQ platform, seeks to boost profitability and productivity for business leaders, sales teams, and production operators through advanced data methodologies and machine learning. Additionally, Innate works to provide a digital expert community, addressing data challenges and driving buyer engagement and scalable production, aligning with national goals for localized production and community growth.
“The Maryland Equity Investment Fund seeks to grow venture capital in Maryland while generating financial returns and fostering economic growth,” said Katherine Hill Ritchie, senior director of TEDCO’s Venture Funds. “Innate Technologies’ goal to address the need for data integration in digital manufacturing impacts manufacturing processes in all industries.”
TEDCO’s Venture Funds are one of the many investment opportunities TEDCO can provide to qualifying technology-based startups and small businesses throughout Maryland. For more information, visit our page at https://www.tedcomd.com/funding.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
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Media Contact
Tammi Thomas, Chief Development & Marketing Officer, TEDCO, This email address is being protected from spambots. You need JavaScript enabled to view it.