TEDCO Board Names Lester Davis Interim Chief Executive Officer
The TEDCO Board of Directors today appointed Lester Davis as Interim Chief Executive Officer, effective November 27, 2026. Davis most recently served as Chief of Staff to Maryland Governor Wes Moore, where he led day-to-day operations for state government and its $70 billion dollar budget. He succeeds Troy LeMaile-Stovall, who has led TEDCO since 2020. LeMaile-Stovall will continue to serve through November 26.
As Chief of Staff, Davis has overseen the administration’s economic agenda, has worked to improve state operations and strengthen accountability and audit functions across agencies, and has led the development of the Governor’s budget and legislative priorities. Before joining state government, he held senior executive roles at CareFirst BlueCross BlueShield, after spending a decade as an executive in municipal government. At CareFirst, he worked closely with the CEO and executive peers to strengthen the company’s venture arm, which invests in startups and health systems to improve access, quality and affordability of care.
To read the full announcement, click here.
| | Maryland’s entrepreneurial ecosystem is evolving at a rapid pace, and TEDCO remains committed to supporting this continued expansion. Learn how we’re doing just that in the latest State of the Startup. | | |
Thank you to everyone who joined us for TEDCO’s 2026 Entrepreneur Expo! Your participation, energy, and engagement helped make this year's event a tremendous success.
From insightful discussions and inspiring speakers to meaningful networking opportunities, the Expo brought together Maryland's vibrant entrepreneurial ecosystem to connect, collaborate, and explore new opportunities for innovation and growth.
2026 Entrepreneur Expo Highlights:
1,310 Attendees
106 Inspiring speakers
117 Exhibitors
55 Startup Exhibitors
26 Sessions
Relive the Experience!
| | Thank you again for being part of the TEDCO community and helping us advance Maryland's entrepreneurial ecosystem. We look forward to continuing to build on the connections and momentum created at this year's Expo! | | Entrepreneurial Resources | | |
Build Our Future Grant Program
Deadline: Rolling
The program provides matching grants of up to $2 million for innovation infrastructure projects in Maryland's strategic technology sectors — including advanced manufacturing, cybersecurity, life sciences, AI, and more.
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Business Relocation Grant
Deadline: Rolling
The City of Laurel Department of Economic and Community Development (ECD) is excited to administer the Business Relocation Grant. The purpose of this program is to help defer up to $5,000 of the cost to physically move an existing business to a vacant commercial property or to assist in the start-up of a new business in a vacant commercial property within the City of Laurel between July 1, 2026, and June 30, 2027.
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Buy Maryland Cybersecurity (BMC) Tax Credit
Deadline: Rolling
Funding Amount: 50% of purchase price (up to $50,000 credit for the buyer)
Qualified Maryland Companies may claim a tax credit for 50% of the net purchase price of cybersecurity technologies and services purchased from a Qualified Maryland Cybersecurity Seller.
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Maryland Energy Innovation Accelerator (MEIA) Grants
Deadline: Rolling
Funding Amount: Up to $300,000
Supports Maryland-based companies developing innovative clean energy technologies. Funding can be used for early-stage commercialization, pilot projects, and product validation.
| | Recent Investments, Funding & Announcements | | |
TEDCO’s Venture Funds Invest $500,000 in Space Phoenix Systems
Based in Baltimore, Maryland, Space Phoenix Systems is developing space logistics infrastructure to support the transportation, management, and return of payloads from orbit. The company’s flagship spacecraft, Hermes, is being designed as a repairable, reusable platform engineered for rapid turnaround and repeatable missions.
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TEDCO Announces 2026 Concept Capital Pitch Competition Winner
Stemora Inc’s founder, Srujana C., competed against eight others who previously applied to either TEDCO’s Rural Pre-Seed Fund or the Social Impact Funds and received $25,000 from the program.
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| TEDCO Office Hours & Open Forums | | Visit TEDCO's Events Calendar to explore the latest opportunities and happenings throughout Maryland's innovation ecosystem. | | | |
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DISCLAIMER
The companies, resources, events, and programs in this newsletter are presented as a courtesy to help you navigate the various business support services established for and available to Maryland entrepreneurs.
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Entities and Individuals: While we recognize the accomplishments of businesses, non-profits and individuals connected to TEDCO, in sharing this news there is no intent to recommend or endorse any business, nonprofit, or individual for any purpose. TEDCO does not verify information in linked articles or press-releases. And, TEDCO does not necessarily share the views contained in any linked articles or press-releases.
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Programs and Services: To apply for or obtain services from a particular agency or program, you will need to apply through that program’s or agency's website. TEDCO cannot guarantee eligibility or success in applying to or using a program's or agency's resources. Each individual program and agency will determine your eligibility when you apply. While updates to the page are being made regularly, due to the ever-changing nature of these programs and agencies and state, federal, and local laws, this page may not be all-encompassing. Any information you share with any program or agency will be subject to the laws governing that program or agency and that program's or agency's policies, procedures and rules.
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Events: TEDCO does not endorse or recommend any individual, business, or other entity presenting or hosting any webinar, podcast, or event. Any views shared on any of these formats are not necessarily shared by TEDCO. Unless otherwise stated, TEDCO has not contributed to the content or format of webinars, podcasts, or events promoted on this page.
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