The Maryland Technology Development Corp. and a division of one the state’s biggest minority-owned banks are teaming up to start a program aimed at providing early funding to African-American startups.
TEDCO and the Harbor Bank of Maryland Community Development Corp. announced the Minority Business Pre-Seed Fund on Tuesday. The pilot program is expected to provide 10 African-American tech entrepreneurs with up to $40,000 each to put toward the launch of their businesses. TEDCO and Harbor Bank will each put in half.
TEDCO plans to start accepting applications March 1.
nsherman@baltsun.com
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