ANNAPOLIS, Md.--(BUSINESS WIRE)--On Tuesday, April 3, 2018 TEDCO Incubation Challenge finalist FounderTrac had their first Demo Day at Host Sponsor Loews Annapolis Hotel. After a 12 week, rigorous program 10 FounderTrac finalists pitched to a standing room only atrium of over 200 attendees. Over 50 angel investors and venture capitalists were in attendance creating an energy at the event that truly represents the essence of entrepreneurship. Tami Howie, CEO of the Maryland Technology Council says, “We had a huge number of high quality investors attend our showcase to see the amazing growth of our companies over the last 12 weeks of our FounderTrac program.”
Winner, Aimee Martin of MileMarker, was announced at the end of the event taking home a $25,000 investment from MCVC Partners, the venture capital partner of the FounderTrac team. The MileMarker founder said, “After the valuable three month FounderTrac experience learning with other entrepreneurs from top experts and advisors, we were thrilled to receive $25,000, which will propel our growth and enable us to continue to gain sales traction. FounderTrac is the gift that keeps on giving!” The MCVC founding partners met 20 years ago in Annapolis at the Naval Academy. MCVC founder Jeffrey Mund said, "We are honored to help lead the Maryland innovation ecosystem forward by focusing on virtuous commerce and the Sherpa mentorship model." Along with MileMarker, FounderTrac had a full arsenal of high growth businesses disrupting the startup landscape in Maryland’s capital. Here is a list of the first FounderTrac cohort of 2018:
Agewell Biometrics - Joshua Wies
Arbit - Alex Bullington, Greg DiNardo
AudioStaq - Gabriel Pendleton, Christian Strama
Everywhere Communications - Patrick Shay, David Collier
FREY - Leif Frey, Erin Frey
GasNinjas - Christopher Aubuchon
HoneIn - Anne Stuckey, Brian Strom
Iotia Corporation - Matt Daue, Sam Oswald
MileMarker - Aimee Martin
TransitioningU - Mustafa Wahid, John Slevin, Joshua Smith Ph.D
Ryan Sears, founder of LAUNCH! Annapolis responded when talking about the event, "Demo Day was an outstanding opportunity to showcase the amazing startup talent and work ethic we have in this region. We are proud to continue our support of FounderTrac." With the ever growing visibility of talent in the state of Maryland FounderTrac will be able to serve many more high growth startups this year. FounderTrac continues to serve its finalists after the end of each cohort by engaging in office hours, alumni invitations, access to partner opportunities and continued access to the FounderTrac community platform.
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.
From Pilot to TEDCO Funded Program
In the fall of 2017 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. FounderTrac is already planning the second cohort that will take place in the Fall of 2018. Applications will be accepted from May 1, 2018 to July 1, 2018 at foundertrac.com.
Startups who are accepted into the program participate in a 12-week curriculum led by successful entrepreneurs and executives, are matched with an executive Sherpa, and are given the opportunity to gain funding from a dedicated venture capital firm. 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 Host Sponsor Loews Annapolis Hotel Connects With Local Business
Loews Hotels & Co’s culture is for all our properties to be a Good Neighbor and it is one of our guiding principles to connect with our communities. Loews Annapolis is honored and privileged to work with local and regional businesses and be a great partner and resource. Anchored in Annapolis heritage, and located in the heart of America’s sailing capital, Loews Annapolis Hotel is dedicated to making memorable moments for our guests.
With over 2000 members, LAUNCH! Annapolis is a non-profit organization dedicated to connecting entrepreneurs with resources by hosting educational, networking and social gatherings while pursuing initiatives to support innovation and high-growth startups in the state’s capital. launchannapolis.org/
MCVC Partners, a venture capital firm, 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 www.mcvcpartners.vc.
The Maryland Tech Council
The Maryland Tech Council (MTC) is a collaborative community, actively engaged in building stronger technology and life science companies by supporting the efforts of our individual members. We are the largest technology trade association in the state of Maryland with over 400 members. We support our member companies who are driving innovation through advocacy, education, workforce development, cost savings and connecting entrepreneurial minds. For more information, visit www.mdtechcouncil.com.