InvestMaryland Challenge names 12 finalists
And then there were 12.
The Maryland Department of Business and Economic Development tapped on Thursday a dozen young companies as finalists in the InvestMaryland Challenge. There are three finalists in each of four categories competing for $100,000 top prizes.
The entire pool of applicants—all 214 companies who entered—is eligible for special awards, including incubator memberships, professional services and grants, worth nearly $300,000 more.
Winners will be announced at an event in Baltimore on April 28.
The finalists are:
Defense & Security
Sustainability & Exploration
“These finalists are among the best and brightest startups and entrepreneurs in Maryland and beyond,” said Mike Gill, DBED Secretary. “In Maryland, we are committed to creating the best possible environment for high-tech, innovative startup companies like the InvestMaryland Challenge finalists. We want them to grow, thrive, create jobs, and become leaders of our business community and the global economy as well. Congratulations to all the companies involved in the Challenge and best of luck to the finalists. We cannot wait to crown four new winners.”
The finalists were chosen from a field of 46 semifinalists following face-to-face interviews with panels of judges, including investors, successful entrepreneurs, and others. The Challenge was opened to international companies for the first time this year, drawing entries from Israel and Brazil. Companies based outside of Maryland that win top awards are required to open a place of business in the state and spend at least half of the funding here.