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TEDCO and KVIC: A New Era of Innovation

In a ground-breaking move to foster economic development and innovation, TEDCO (Maryland Technology Development Corporation) has officially entered into a joint-declaration agreement with the Korea Venture Investment Corporation (KVIC). This partnership, which was announced on November 6, 2025, aims to support collaborative efforts for enhancing the innovation ecosystem between Maryland and South Korea.

The agreement signifies a solid commitment to not only grow local startups but also to create pathways for them to enter international markets. Maryland's Governor Wes Moore emphasized the importance of this partnership during the announcement, stating, "Our administration's historic trade mission to South Korea showcases what can be achieved through international collaboration. By working together, we are paving new avenues for employment and economic growth."

The collaboration will primarily focus on organizing joint workshops, acceleration programs, and other initiatives that will benefit tech companies and startups in both regions. TEDCO has been instrumental in propelling Maryland’s economy through investing in technology companies and enhancing access to vital resources for entrepreneurs. This mutual effort is expected to enrich the local innovation landscape, enabling startups to scale their technologies globally.

KVIC, which operates its East Coast Office from New York City, has been pivotal in assisting Korean startups establish a foothold in the global market. MyeongSeon Kim, the head of KVIC’s U.S. East Coast Office, expressed a keen interest in Maryland's vibrant scientific community. He highlighted the potential for mutual growth: "This joint declaration is a channel to facilitate the entry of Maryland’s outstanding startups into Korea while also introducing innovative Korean tech companies to the Maryland ecosystem."

The formal agreement was signed during TEDCO’s 2025 Entrepreneur Expo, an event that attracts numerous attendees and showcases diverse entrepreneurial resources across the state. This year, over 1,100 participants came together for workshops, discussions, and networking opportunities, emphasizing the spirit of collaboration and innovation.

Ranked highly for emerging venture capital investments, Maryland is well-positioned to collaborate on international fronts, as noted by TEDCO CEO Troy LeMaile-Stovall. He remarked on the confidence shared with KVIC in pursuing sustainable innovation ecosystems to spur growth beyond boundaries. Such partnerships are essential in an age where technology and innovation are quickly transforming economies worldwide.

As the world becomes increasingly interconnected, initiatives like this between TEDCO and KVIC underscore the importance of nurturing relationships that support entrepreneurship, thus providing the infrastructure necessary for creative minds to thrive in markets both domestically and internationally. Both entities express optimism that this initiative will lead to enhanced funding opportunities and support for forthcoming innovations in Maryland and South Korea.

To learn more about TEDCO's resources and investment initiatives, visit their official website at tedcomd.com. TEDCO remains committed to developing an inclusive environment conducive to the growth of technology and life sciences companies in Maryland.

Conclusion

The agreement between TEDCO and the Korea Venture Investment Corporation marks a significant step forward for the technology landscape in Maryland. By fostering synergy and collaborative spirit, this partnership aims to bolster both regions' economies and drive innovations that contribute to the global technology framework.