Four College Park companies have made it to the second round of the InvestMaryland Challenge, a competition in which start-up companies can win a portion of $300,000 in grants and/or business services.
Of the 250 companies that initially applied to the competition, 71 were selected to advance to the second round, with 20 in Montgomery and Prince George’s counties. The College Park companies that made the cut are VisiSonics Corporation, IGI Technologies, Remedium Technologies, and Maryland Energy and Sensor Technologies.
In the second round, the entrants’ business plans will be reviewed and judged with semi-finalists announced Feb. 19, and the Governor’s Cup Award Ceremony on April 15.
Prizes include such things as mentorship programs, strategic consulting services, product development services, incubator space, accelerator programs and small business innovation research grant assistance.
Twenty local businesses made the second round:
IT Hardware & Software Category
ClickMedix, LLC, Rockville
VisiSonics Corporation, College Park
Employee Navigator, Gaithersburg
Management CV, Bethesda
Subject 7, Potomac
Visual Telehealth, Bethesda
Life Science Category
Biomedical Enterprises Inc., Bethesda
IGI Technologies, College Park
Remedium Technologies, College Park
SynAm Vaccine, Rockville
Athena Energy, Bowie
CoFounders Lab, Rockville
Maryland Energy and Sensor Technologies, College Park
Mercaris, Silver Spring
Mobilaps, Silver Spring
Sustainable Systems International, Gaithersburg
Triea Systems, Bethesda
To be eligible to enter the competition, companies must have fewer than 25 employees, annual revenues of less than $1 million, be a duly organized legal entity, be in good standing in the state they are registered in and have a principal place of business in Maryland. Prize winners are required to spend at least 51 percent of their grant money in the state.
Some of the sponsors’ special awards include money and business services from: Microsoft, Noble Life Sciences, Towson University, the Eastern Shore Entrepreneurship Center, BioHealth Innovation, Bethesda Green and more.
Learn more about the competition on the InvestMaryland Challenge website.