By Megan Sayles
AFRO Staff Writer
msayles@afro.com
The Maryland Technology Development Corp. (TEDCO) held its 11th annual Entrepreneur Expo on Oct. 21, bringing together business owners, legislative leaders, investors and industry experts to share information, network and explore opportunities for innovation and growth. The gathering, held at The Hotel at the University of Maryland, featured interactive workshops, panel discussions, a pitch competition and exhibiting companies.
Maryland Gov. Wes Moore gave special remarks during the event, reaffirming the state’s commitment to supporting founders at every stage of growth and ensuring they have the resources to thrive in Maryland.
“To all of our entrepreneurs, particularly all of our entrepreneurs who are working in Maryland, I can tell you right now that you are in the right spot,” said Moore. “There is not a state in the country that is going to better support your ambitions. There’s not a state in the country that is going to make sure that you are lifted up, growing and supported.”
University of Maryland President Darryll Pines also spoke, highlighting the school’s central role in fostering innovation and entrepreneurship that benefits the entire state.
“Whether it’s us having a quarter of our undergraduates enrolled in entrepreneurship courses, leading the National Science Foundation Innovation Corps (I-Corps) program for this region or helping Maryland Innovation Initiative or Maryland Business Opportunity Center, our focus on building the ecosystem that advances our state’s economy is all for the public good,” said Pines. “Much of that work is centered right here in our Discovery District, a thriving connection of startups, research labs and industry that is home to dozens of companies and thousands of residents and employees.”
The expo’s sessions and panels brought the leaders’ vision of empowering entrepreneurs to life, examining funding opportunities, artificial intelligence (AI), strategies for commercialization and approaches for building and scaling successful, sustainable ventures.
One discussion focused on guidance from local lenders, who highlighted the range of capital options available to startups.
Dawn Medley, president and CEO of FSC First, said her firm offers funding tailored to each stage of business growth—from microloans for early-stage startups to Small Business Administration (SBA) loans for companies ready to scale. With 15 programs that can layer additional financing and provide lines of credit, FSC First also pairs its lending with technical assistance and business coaching to ensure founders have the guidance they need.
Jeff Cherry, founder and executive director of Conscious Venture Labs, said his company provides risk capital and primarily works with pre-seed startups. It has a special focus on investing in underrepresented founders and communities that traditional venture firms often overlook.
He acknowledged that amid the 47th president’s rollback of equity, diversity and inclusion initiatives, raising capital has become more difficult for these founders. However, Cherry emphasized that the solution isn’t solely more funding—it’s about helping startups improve their performance and expand their customer base. By building stronger companies, he said, the ecosystem as a whole benefits and barriers created by the rejection of equity and inclusion efforts can be mitigated.
“We’re really focused on helping our companies get better at performance because we know that’s going to accrue to the whole ecosystem,” said Cherry. “When things get tough, like they are now with this pushback on DEI and it being harder for us to raise money, we’re going to make that easier by having more companies that are successful.”
The 2025 expo was TEDCO’s final annual entrepreneur gathering, though the organization continues to support business owners through a variety of technical assistance, mentoring, training and investments programs.
Troy A. LeMaile-Stovall, CEO of TEDCO, affirmed this commitment and underscored the resiliency and creativity that define entrepreneurs—especially when faced with obstacles.
“Most entrepreneurship comes about because of something happening to you, either personally or professionally,” said LeMaile-Stovall. “I would be encouraged because there are going to be a lot of entrepreneurial opportunities that are going to be created because people are faced with challenges. It’s in that challenge that we sometimes become our most creative or innovative.”
