Maryland isn’t just the home of blue crabs and the Chesapeake Bay- it’s also a great place to launch and scale a startup. With billions in venture capital flowing through the state, a deep bench of tech talent, and direct access to federal agencies and world-class research institutions, Maryland founders are uniquely positioned to turn bold ideas into thriving businesses. But with so many funding options, accelerators, and networking events, where should you start? This guide will help you cut through the noise. You’ll discover Maryland’s top venture capital firms, insider tips for landing non-dilutive government grants, and the best events and accelerators to grow your network.
Top VCs in Maryland
New Markets Venture Partners
About: New Markets Venture Partners is an early and growth stage venture capital firm that invests in and helps build disruptive education, information technology and business services companies. We are one of the leading education technology-focused venture firms in the U.S. Each of our partners has many decades of investment and education experience. We maintain proprietary relationships with states, districts, universities and other centers of innovation that allow us to provide exceptional value to our portfolio companies. We help our portfolio companies succeed by adding value before, during, and after the investment process.
TDF Ventures
About: TDF Ventures is a venture capital firm that targets seed and Series A investments in technology companies.
Bonsal Capital
About: Bonsal Capital is a private investment company investing in technology and technology enabled services in education, healthcare and cyber security solutions.
Thesis: Bonsal Capital is a mission-driven partnership, and supporting education has been a core driver since our founding in 1999. With decades of experience in education as investors, practitioners, and volunteers, our principals have authentically grown a partnership that seeks founders and leaders who want to make a positive impact with a product and/or service, and who keep prospective scale and sustainability at the forefront. We support the growth of companies focused on tech-enabled services in education, and we have invested in and partnered with more than 20 such companies over the past two decades, providing human and financial capital, as well as other resources, that have made a positive impact on tens of millions of end users. We believe that, by fostering education, we can make the world a better place and feel good about our place in it.
Sterling Venture Partners
About: Sterling Partners is an investment management platform. We invest and manage across strategies and asset classes. We invest in companies in various stages of growth and across many industries, taking majority, minority, preferred equity, and even debt positions. We also invest in teams who bring their own experience and expertise and provide them with financial, strategic, and operational support. The people at Sterling believe in ideas and ideals, in people and partnerships that drive long-term success.
TCP Venture Capital
About: TCP Venture Capital is a Baltimore, Maryland-based early-stage technology focused venture capital firm. We partner with entrepreneurs to build great businesses. The Propel Baltimore Fund makes investments in early-stage technology companies willing to locate in Baltimore. The Fund addresses the critical need for more early-stage capital in Baltimore City, encourages more entrepreneurial activity in the City, creates more high-paying jobs, and helps to realize Baltimore City’s full potential as a destination for growing businesses.
Conscious Venture Lab
About: Conscious Venture Lab (CVL) is an early stage business accelerator with the goal of developing companies and leaders who embrace capitalism as a force for good in society. We work to help extraordinary entrepreneurs in their goal to build companies with societal purpose at their core; to give them all the tools and support they need to create engaged happy employees, loyal and joyful customers, deeply authentic partnerships, caring and safe communities and all manner of wealth for all their stakeholders.
Thesis: Conscious Venture Lab is an immersive 4-month, curriculum and mentor driven accelerator, We build companies focused on the power of purpose.
Camden Partners
About: Founded in 1995, Camden Partners is a growth equity firm that helps the management teams of enterprise software and technology-enabled companies scale their businesses. Camden has invested in 85 companies across six growth-equity funds and is known for providing creative and flexible growth capital. By focusing on the same strategy for over 25 years, the firm’s partners leverage deep domain expertise and a network of operating executives to help management teams grow revenue and cash flow. With initial equity checks between $5 million and $15 million, Camden is a preferred partner for owner-operators who are dilution sensitive.
Savano Capital Partners
Savano Capital Partners is a late stage venture fund investing in technology-driven businesses. About: We focus on investment opportunities in high-growth companies within the software, communications, e-commerce, technology-enabled services, healthcare and clean tech/alternative energy sectors. We partner with leading companies by providing liquidity to individual shareholders, such as former executives, angel investors and founders. The fund was founded by life-long venture capitalists and entrepreneurs who aim to work collaboratively with company management, venture investors and individual shareholders.
Early Light Ventures
About: The Early Light Ventures Fund is designed from the ground up to deliver incredible outcomes for the best founders in B2B SAAS.
ABS Capital
About: Since 1990, ABS Capital Partners has established a strong track record investing in later-stage growth companies in the business services, health care, media & communications, and software sectors. Opportunities and challenges change when companies enter the high growth phase. As a recognized leader in later-stage investing, they understand this point in a company's lifecycle.
Thesis: ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building businesses has been our passion for more than 30 years. Over that time, we have invested more than $2.5 billion in approximately 130 companies across eight funds. We bring our investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses with data-driven business strategies, market research and analytics, and rolling up our sleeves to support talented management teams.
Boulder Ventures
About: Boulder Ventures was formed in 1995 to manage venture capital partnerships. They seek to realize superior returns from early-stage equity investment and active partnership with exceptional entrepreneurs to build market-leading technology companies. Boulder Ventures identifies exceptional entrepreneurs building market-leading technology companies and provides the funding, contacts and experience needed to succeed in today's highly competitive environment.
Tapping Into Government Contracts and Non-Dilutive Funding
Maryland is a national leader in winning federal research grants and government contracts, thanks to its proximity to Washington, D.C., a dense cluster of federal agencies, and a robust support ecosystem for startups. Here’s how founders can leverage these advantages:
SBIR/STTR Grants
The federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide non-dilutive funding (i.e., you don’t give up equity) to startups developing innovative technologies. Maryland amplifies these opportunities with state and local matching grants, technical assistance, and proposal labs.
- TEDCO SBIR/STTR Proposal Lab: TEDCO, Maryland’s leading innovation agency, offers a comprehensive SBIR/STTR Proposal Lab that helps founders write, review, and win federal grants. The lab has helped Maryland startups secure over $28 million in SBIR/STTR funding from agencies like NSF, NIH, NASA, and the Air Force. The program is especially supportive of women-owned, disadvantaged, and rural businesses.
- Montgomery County SBIR/STTR Matching Grant Program: If your startup is in Montgomery County and working in biotech, medicine, or life sciences, you may be eligible for a local matching grant—up to $25,000 for Phase I and $50,000 for Phase II awards, plus a “Phase 0” grant to help with application costs.
- Maryland State Matching Grants: The state budget includes $1.3 million for SBIR/STTR matching grants and $500,000 for technical assistance in 2025, helping bridge the funding gap between federal grant phases and commercialization.
- Maryland APEX Accelerator: Formerly known as PTAC, the Maryland APEX Accelerator provides free counseling, training, and bid-matching services to help startups compete for federal, state, and local contracts—including SBIR/STTR opportunities.
- OST Global Solutions SBIR/STTR Lab: In partnership with TEDCO and SBDC, OST runs a proposal lab that has helped Maryland companies win up to $305,000 in Phase I non-dilutive funding.
Key Steps to Access SBIR/STTR and Government Contracts:
- Register your business in SAM.gov and other required federal databases.
- Identify relevant agencies (NSF, NIH, DoD, etc.) and open solicitations that match your technology.
- Leverage Maryland’s proposal labs and technical assistance to strengthen your application.
- Apply for state and local matching grants to maximize your non-dilutive funding.
- Use bid-matching and counseling services (like Maryland APEX Accelerator) to find and compete for government contracts.
Tips for Startups in Health Tech, Cybersecurity, and Defense to Win Government Contracts
1. Understand the Procurement Landscape: Maryland’s proximity to federal agencies (NIH, FDA, DoD, NSA, NIST) gives startups a unique edge. Health tech, cybersecurity, and defense are priority sectors for both SBIR/STTR and direct government contracts.
2. Build Relationships and Network: Attend local government contracting events, SBIR/STTR workshops, and industry days. Maryland APEX Accelerator and TEDCO regularly host training and matchmaking events.
3. Get Certified and Registered: Register as a small business, women-owned, minority-owned, or veteran-owned business if eligible—these certifications can open set-aside contract opportunities.
4. Focus on Compliance and Security: For cybersecurity and defense, ensure your company meets federal security standards (such as NIST 800-171 or CMMC for DoD contracts).
5. Leverage Local Support: Use Maryland’s free counseling, proposal review, and bid-matching services to improve your proposals and find the right opportunities.
6. Start Small, Scale Up: Begin with smaller contracts or Phase I SBIR/STTR awards to build a track record, then pursue larger Phase II/III awards or direct procurement.
7. Highlight Maryland’s Ecosystem in Your Proposals: Federal reviewers value proximity to agencies, access to top research universities, and Maryland’s innovation infrastructure—emphasize these strengths in your applications.
Additional Non-Dilutive Funding and Support Programs in Maryland
- TEDCO Seed Funds and Tech Commercialization Grants: Early-stage funding for tech startups.
- Maryland Industrial Partnerships (MIPS): Grants for university-industry R&D collaborations.
- Maryland Entrepreneur Hub: Centralized resource for all state and local funding programs.
- Maryland Small Business Development Financing Authority (MSBDFA): Financing for minority- and women-owned businesses.
Networking and Community: Key Events and Resources for Maryland Founders
Top Startup Events, Accelerators, and Meetups in Maryland
- Startup Grind Maryland: Startup Grind Maryland is one of the state’s most active entrepreneurial communities, hosting monthly events, fireside chats, and workshops that connect founders, investors, and mentors. Their annual Accelerator Demo Day, in partnership with BWTech and FounderTrac, is a must-attend for startups looking to pitch to investors and join a global network.
- Maryland Entrepreneur Hub Events: The Maryland Entrepreneur Hub curates a comprehensive calendar of local startup events, pitch competitions, workshops, and meetups across the state. This is a go-to resource for discovering both in-person and virtual opportunities to connect with the Maryland startup ecosystem.
- Accelerate Investor Conference (Arlington, VA): While technically in Virginia, this annual conference (November 5-6, 2025) is a major regional event for Maryland founders, attracting VCs, angel investors, and corporate partners from the entire DC-Maryland-Virginia (DMV) area.
- Local Meetups and Pitch Nights: Regular meetups, such as those organized by Startup Grind, TEDCO, and local coworking spaces, offer founders the chance to network informally, share experiences, and find collaborators. Many of these events are listed on the Maryland Entrepreneur Hub and Eventbrite.
- TEDCO’s Entrepreneur Expo: TEDCO, Maryland’s leading innovation agency, hosts an annual Entrepreneur Expo that brings together hundreds of founders, investors, and ecosystem partners for a day of networking, panels, and pitch competitions.
- Maryland APEX Accelerator Workshops: For founders interested in government contracting, the Maryland APEX Accelerator (formerly PTAC) offers free workshops and matchmaking events to help startups connect with procurement officers and other small businesses.
How to Leverage These Events and Resources for Fundraising and Growth
- Build Investor Relationships Early: Attend pitch nights, demo days, and investor panels not just to pitch, but to start building relationships with VCs and angels. Investors often fund founders they know and trust, so regular presence at these events increases your visibility and credibility.
- Refine Your Pitch and Get Feedback: Use pitch competitions and accelerator demo days to practice and refine your pitch. The feedback from judges and peers is invaluable for improving your fundraising materials and approach.
- Expand Your Network: Meetups and workshops are ideal for finding co-founders, advisors, and early hires. Don’t just focus on investors—building a strong support network is key to long-term growth.
- Stay on Top of Trends and Opportunities: Conferences and expos feature panels on the latest industry trends, regulatory changes, and funding opportunities. Attending these sessions can help you spot new markets and adapt your strategy.
- Access Non-Dilutive Funding and Support: Many events, especially those run by TEDCO and Maryland APEX Accelerator, offer information on grants, government contracts, and other non-dilutive funding sources. Take advantage of these resources to diversify your funding strategy.
- Follow Up and Nurture Connections: After each event, promptly follow up with new contacts on LinkedIn or via email. Personalized follow-ups can turn a brief meeting into a lasting partnership or investment opportunity.
- Join Accelerator and Incubator Programs: Accelerators like the Maryland Startup Accelerator and sector-specific programs in Baltimore provide structured mentorship, access to investors, and a community of peers—all of which can accelerate your fundraising and growth.
Connect With Investors in Maryland Using Visible
At Visible, we often times compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors.
With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible.
- Find investors at the top of your funnel with our free investor database, Visible Connect and find a filtered list of Maryland's investors here.
- Track your conversations and move them through your funnel with our Fundraising CRM
- Share your pitch deck and monthly updates with potential investors
- Organize and share your most vital fundraising documents with data rooms
Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.
