I was in Jessup, Md. earlier today to watch several business leaders leaders and innovators in the state's technology community mark a milestone: the investment by TEDCO into its 200th portfolio company.

The lucky company that received TEDCO's support ($75,000) is American Dynamics Flight Systems, a six-year-old company that's working on a vertical-launching unmanned aerial vehicle, or remote-controlled drone (see photo of life-sized model above). This drone, when complete, will be able to launch from a standstill position, with engines that rotate to give it vertical and then horizontal thrust.

TEDCO is a quasi-public agency that moves quickly to fund all sorts of technology start-ups in Maryland. The entity, which was enacted by law through the General Assembly, has been around for 12 years and 82 percent of the 200 companies it's invested in are still in business, TEDCO officials say.

It helped lure American Dynamics to Howard County three years ago, according to company CEO Wayne Morse. Morse cited three reasons for moving his company to Maryland from Long Island, NY:

1) Closer to the customer: Morris's big customer he's targeting is the Pentagon.
2) University of Maryland: Morris works closely with the school's aerospace program.
3) TEDCO's support for companies working on advanced technologies.

Said Morse: "I couldn't be happier."

In addition to the drone, he's also working on a next-generation missile launcher that could be used with drones and helicopters.

"People love to work here because this is cool stuff," said Morse. He's got three employees and several more engineers on contract.

There were also eight companies giving presentations at the event, including Encore Path, Energy Dense Power Systems, HeMemics, InfraTrac, Oculis Labs, Sensics, and Spiralcat.