ANNAPOLIS, MD — Governor Wes Moore, the Maryland Technology Development Corporation, APAC Investment and Innovation Development Association Taiwan, and SangFroid International Capital today announced an agreement to unlock up to $50 million in co-investments into Maryland’s innovation economy. The agreement is one of four developing international collaborations featured during TEDCO’s annual entrepreneur expo, where the governor highlighted the Moore-Miller Administration’s work to invest in the state’s lighthouse industries and expand international economic engagement.
“Maryland has long been asset-rich, but strategy-poor. This partnership underscores the power of our data-backed competitiveness strategy to drive investment, grow our economy, and unlock Maryland’s potential,” said Gov. Moore. “I thank TEDCO and TAIIDA for coming to the table and making the choice to invest in Maryland’s future. In partnership, we will continue to focus on areas where Maryland is uniquely poised to win, and create new pathways to work, wages, and wealth.”
Future co-investments through this partnership will be leveraged by TEDCO to expand entrepreneurial opportunities within the state’s lighthouse sectors. Entities eligible for investment include Taiwanese subsidiaries of Maryland businesses; joint ventures between Maryland and Taiwan-based businesses; and Maryland companies using investment dollars to expand product manufacturing in Taiwan and market expansion in Asia. The agreement also formalizes cross-sector cooperation, and establishes an International Startup Exchange Center in Taiwan and Maryland to focus on expanding AI, deep tech, and biotechnology sectors.
The other three international collaborations being pursued by TEDCO include:
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Korea Venture Investment Corp: To advance information-sharing channels to support the mutual growth and international scaling of Maryland and Korean-based life sciences, cyber, defense, and manufacturing companies.
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KUnicorn Investment LLC: To collaborate on expanding startup ecosystems in both Maryland and South Korea by identifying and evaluating high-potential tech startups, exploring co-investment opportunities, and facilitating connections to government funding programs.
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The Ministry of Digital Economy and Entrepreneurship of the Hashemite Kingdom of Jordan: To establish a mutual partnership through the Jordan Source program focused on technology and entrepreneurship. The partnership will connect Jordanian and Maryland startups, creating new opportunities for co-investment, startup exchange, and international market expansion.
The developing international partnerships discussed today are a continuation of the Moore-Miller Administration’s focus on attracting foreign investment by cultivating international business relationships. The governor last year hosted His Majesty King Abdullah II of Jordan in Annapolis to advance discussions on innovation, technology, and investment collaboration between Maryland and Jordan—home to one of the most dynamic technology and entrepreneurship ecosystems in the Middle East.
The governor also took his first international trade mission to Japan and the Republic of Korea earlier this year, and spoke with government and private sector leaders about his desire to grow Maryland’s lighthouse industries through international collaboration and strategic investments such as the Capital of Quantum Initiative.
“TEDCO’s international collaborations with South Korea, Jordan, and Taiwan reflect our commitment to building a globally connected innovation ecosystem,” said TEDCO Chief Executive Officer Troy LeMaile‑Stovall. “These collaborations have already resulted in promising investments that support a deep exchange of talent, technology, and entrepreneurial support. Together, we’re not only expanding Maryland’s economic footprint abroad but also creating new opportunities for local innovators to thrive on the world stage.”
TEDCO is Maryland’s leading source of funding for early-stage, technology-based businesses, providing business assistance to entrepreneurs and fostering technology transfer and commercialization from the state’s universities and federal labs. Their entrepreneur expo showcased resources from across the state, and featured workshops, roundtable discussions, and opportunities for entrepreneurs to network and learn.
During the expo—the 11th and final iteration—Governor Moore participated as the special guest for a keynote fireside chat focused on the state’s growth strategy, Maryland’s momentum to become a global leader for quantum information science innovation, and efforts to support small businesses and workers while the federal government remains shut down.
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