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Here's something that will impact a fair number of Maryland startup companies and entrepreneurs who may look to the state for help in launching or growing their tech business:
Maryland Technology Development Corp. (TEDCO), the quasi-state agency that funds a range of science and technology companies, named a new president and executive director. His name is Robert A. Rosenbaum (go ahead and friend him up on LinkedIn!) and he's got 30 years of private sector experience.
Most recently, he was managing director at Nobska Ventures, an early stage venture fund, in Baltimore. (Three years ago, then-Mayor Martin O'Malley touted Nobska Ventures' investment in an Israeli medical device company that was thinking about bringing jobs to Baltimore or Maryland.)
TEDCO said it did an extensive national search, but chose Rosenbaum, who's been involved in the Baltimore business scene for years. Hit the link for more details about Rob Rosenbaum and TEDCO.
PRESS RELEASE FROM TEDCO:
The Maryland Technology Development Corporation (TEDCO) board of directors today announced that Robert A. Rosenbaum has been appointed president and executive director of the organization following an extensive national search.
Rosenbaum is a seasoned executive with more than 30 years of private sector experience, including the recent management of a venture capital fund. His focus will be to continue to build TEDCO’s reputation as the nation’s premier technology-based economic development organization.
John Wasilisin, TEDCO’s acting president and executive director, has been given an expanded role within the organization as executive vice president and chief operating officer.
“With a technical and entrepreneurial background, Rob has significant experience in building and driving technology infrastructure,” said Governor Martin O’Malley. “He understands what it takes to create and sustain a successful business and can relate to the Maryland business community. I look forward to Rob’s leadership as TEDCO continues to move forward as a national model of technology transfer and economic development.”
Jay Steinmetz, chairman of TEDCO’s board of directors, and president of Barcoding, Inc., said: “For more than a decade, TEDCO has been the go-to source for seed capital, entrepreneurial business assistance and technology transfer support in the State of Maryland. To continue to thrive, we must focus on building private relationships to compliment our strong support from Annapolis and Washington, D.C. The board’s decision to name Rob president and executive director is a strategic step in that direction. Rob’s background and skill set will complement our current strengths.”
Since 2003, Rosenbaum has served as a managing director of Nobska Venture Partners in Baltimore, an early stage venture fund. While at Nobska, he led the fund’s formation activities, initial fundraising efforts and closed Nobska’s first deal.
Before joining Nobska, he was vice president of operations for Agora Publishing in Baltimore; chief operating officer of Versient Corp., in Hunt Valley, Md.; and director of information technology for Stride Ride Corp., in Lexington, Mass.
He has a Master’s of Business Administration from Columbia University and a bachelor’s degree in mechanical engineering from the Georgia Institute of Technology. Over the course of TEDCO’s 12-year history, the organization has provided more than $9.3 million in funding to Maryland businesses through its signature Maryland Technology Transfer and Commercialization Fund (MTTCF).
This investment has generated more than $394.8 million in downstream funding from angel and venture investors, federal awards and other resources. The organization recently funded its 200th portfolio company and is considered a national model for technology-based economic development. TEDCO is frequently ranked as the most active/early-stage investor in the nation by Entrepreneur magazine.
This is an archived version of the technology blog. For updated coverage, see the current baltTech