Four startups win $100,000 each at the state-run competition.
InvestMaryland Challenge, a state-run competition, has announced the four winners who each receive $100,000. The challenge is a national seed and early-stage business competition organised by the Maryland Department of Business and Economic Development in partnership with Inc. Magazine.
To qualify, companies must have fewer than 25 employees and annual revenue below $1m. This year, 260 businesses entered the contest, of which 29 were from outside Maryland. The awards money is provided by the Maryland Venture Fund and the BioMaryland Centre.
The General Industry category, open to US companies if they open a location in Maryland, was won by New York-based Healthify. The Johns Hopkins University startup helps health plans address patient social needs that affect well-being, such as access to food and housing.
The remaining three awards all went to companies based in Maryland.
Brain Sentry won the Life Sciences category. The company has developed a helmet-mounted sensor – an impact detector – that blinks red when the athlete wearing it should be evaluated for concussion.
ClickMedix won the IT Hardware and Software category for its mobile-health platform. The product is aimed at helping doctors and hospitals reach more patients in areas of the world where medical care is hard to come by.
Luminal won the Cybersecurity category, a new addition to the challenge. The company, which moved from West Virginia this year, focuses on cloud-computing security.