TEDCO, Maryland’s economic engine for technology companies, is seeking a firm to conduct in-depth economic development research and analysis.

Understanding TEDCO’s commitment to fostering an inclusive and entrepreneurial innovation ecosystem, the selected firm’s report will assess the state’s current economic development strategy in this space. These findings will also help shape the creation of a new Maryland Equitech Growth Fund.

The selected firm will collect and review relevant reports and publications; perform an analysis of the findings and key data, including missing data; and draft a final report to present to the TEDCO leadership team and board members.

The final report will consider the impact of Maryland’s current economic development strategy and actions and include recommendations ensuring Maryland’s long-term leadership in building an inclusive, advanced, technology-based, innovation and entrepreneurial culture across the state.

“TEDCO would use the final report to begin a statewide strategic planning process around its goals, including making Maryland a top 10, fastest-growing innovation economy by 2033 and a top 10 global innovation economy by 2050,” said Troy LeMaile-Stovall, TEDCO CEO.

Interested applicants will respond to a detailed Request for Proposals. The goal of this RFP is to receive proposals from potential firms, evaluate those submittals, and select the one best suited to provide the services detailed in the RFP.

TEDCO anticipates spending between $80,000 and $120,000 for the services. The deadline for submissions is 5 p.m. on Aug. 1, 2022. The firm will be selected on Aug. 31, and deliver the final written report to TEDCO by Dec. 30.

Minority business enterprises, as defined in Section 14-301(f) of the State Finance and Procurement Article of the Annotated Code of Maryland, are encouraged to respond to this RFP.