TEDCO establishes $1M fund for cybersecurity startups

TEDCO establishes $1M fund for cybersecurity startups

The Maryland Technology Development Corp. has established a $1 million fund to invest in startups launching new cyber security technologies, officials announced Wednesday.

Eligible Maryland companies will be able to apply for investments of up to $100,000 from the new Cybersecurity Investment Fund. The money must be put toward development of any processes or mechanisms to protect networks and devices from unauthorized access, attacks or destruction, as well as from natural disasters.

Companies must be based in Maryland and have fewer than 16 full-time employees, and must either have zero sales or have received less than $500,000 in outside investment.

The money will be...