Network Advisors
Success Stories
To grow a great company, you need more than just funding – you will need assistance and resources. To help meet this need, TEDCO has collaborated with a series of experts with current, relevant experience in one or more areas. This curated group of Network Advisors brings its broad depth of experience to address the unique needs of Maryland’s early-stage technology and life sciences start-up.
Who are Network Advisors?
Network Advisors are seasoned professionals with diverse backgrounds, including entrepreneurs, industry experts, and subject matter specialists. They volunteer their time to provide tailored guidance and mentorship to startups, leveraging their expertise to help founders overcome challenges and seize opportunities. Network Advisors are passionate about giving back to the startup community and staying engaged with Maryland’s vibrant entrepreneurial ecosystem.
For a detailed list of potential areas of expertise and industries covered, refer to the Network Advisor request form.
Eligibility
- To request a Network Advisor, startups must:
- Be headquartered in Maryland, intend to remain in Maryland, and have more than 50% of staff positions based in the state.
- Have operated for 5-7 years or less, with exceptions for companies in regulated industries or located in rural regions.
- Demonstrate a scalable business model within technology or innovation-driven sectors. (We are industry-agnostic.)
- Be past the idea stage, with demonstrated progress such as:
- A working prototype
- Significant number of customer discovery interviews (>50)
- Participation in programs like NSF I-Corps
- Active revenue generation
- Institutional funding or investment (non-dilutive or dilutive)
- Accelerator program completion
- Filed or secured patents
- Exclusive licensing agreements
- Expectations of Engagement
- For Startup Founders:
- Clearly define your needs and objectives for engaging with a Network Advisor.
- Be open to feedback and new perspectives.
- Respect the time of Network Advisors.
- Actively engage and follow up on recommendations or action items.
- For Network Advisors:
- Provide strategic advice critical to the startup’s development, when possible.
- Leverage professional expertise and networks to offer actionable advice.
- Adhere to TEDCO’s confidentiality and engagement terms as outlined in the Network Advisors agreement, including notifying TEDCO and startup founders when there may be a conflict of interest.
- Respect the time and effort of startup founders.
- For Startup Founders:
Become an Advisor
- TEDCO is seeking experienced business executives and successful entrepreneurs, who have an interest in serving as an advisor to start-up and early-stage companies in Maryland. Advisors will be accessed through various programs, including both voluntary and paid consulting engagements. As such, TEDCO maintains an open solicitation to invite interested experts to apply.
- To become a Network Advisor please complete the Onboarding Form here.
- Network Advisors are asked to be available for up to 4 hours per month for the program, which may be spread among different startups’ requests.
- Link: Network Advisor Onboarding form
- Link: Request an Advisor
Loaned Executive Program
- In addition to the Network Advisors program, TEDCO offers the Loaned Executive program. This initiative provides startups with temporary, hands-on executive support to achieve significant milestones toward investment readiness. Loaned Executives are funded by TEDCO at a pre-set rate, with no cost to participating startups. Eligibility is currently limited to Builder Fund portfolio companies and DefTech member companies, with some exceptions.
- For more information about the Network Advisors program, visit TEDCO’s website or email Justin Ferguson (jferguson@tedcomd.com).
Do companies get assigned more than one advisor or is this more of a "one time opportunity?"
We recommend submitting your request for your most pressing need. Typically, we match you with one Network Advisor at a time, and you can re-apply after one month. However, if necessary, we may match you with multiple advisors. For instance, if you are exploring potential paid projects with advisors outside the NA program or through the Loaned Executive program.
My startup has not officially spun-out yet; do I qualify?
Please refer to the eligibility requirements. If you have a solid business model and elements of your spinout have been validated, such as customers paying for your new technology or Letters of Intent (LOIs) but you have not yet incorporated the spinout, please apply and we’ll let you know if you are qualified or not.
I matched with a network advisor but it's been a while and we never had our meeting. What do I do?
We recommend that startup founders take the initiative on the Network Advisor engagements. The NAs are volunteers, and as highly skilled experts, often times emails can get buried for them. Don’t be afraid to follow-up with them over email or give them a quick phone call to schedule a meeting and to follow-up on any action items you may have discussed together.
I matched with a network advisor, but I can only get on their schedule 2 or more weeks out. Is this normal?
Yes, as experts with highly sought-after skillsets and experiences, our Network Advisors typically have a full schedule which may require some time to get on their calendar. 2-3 weeks is typical, but sometimes you can get faster turnaround. If you have an urgent request, this is why it’s important to submit your request/application for a Network Advisor as early as possible.
I applied for a network advisor a few weeks but I haven't heard back from TEDCO. What should I do?
Turnaround times for requests fluctuate, but can be as long as 6-8 weeks. Check the application form for the latest timelines. And don’t be afraid to email us to inquire on the status of your request. We receive many emails and many requests, and we do our best to respond to them in the order that they are received and factor in urgency of requests.
