The GSC caps off a string of competitions for the company. In 2007, Remedium won second place and $8K in the faculty and graduate student division of the University of Maryland $50K Business Plan Competition. After that, company team members entered the Rice Business Plan Competition, won the University of Nebraska's New Ventures World Competition, and competed in the University of Texas at Austin's Moot Corp. Competition. Matt Dowling was selected as a 2009 Maryland Inventor of the Year by the Daily Record.
Remedium received $104K in Maryland Industrial Partnerships (MIPS) funding in August, 2008, and $50K from the Maryland Technology Development Corporation (TEDCO) University Technology Transfer Fund in March, 2009.
The company joined the Maryland Technology Enterprise Institute (Mtech) VentureAccelerator Program in May 2009, which assists ventures formed around University of Maryland inventions with a range of new business processes, including business planning; understanding markets, fundraising and recruiting.
"It's quite an accomplishment for Remedium to win this award, considering the stiff international competition," says VentureAccelerator Director Jim Chung. "This, coupled with the fact that another of our former portfolio companies, TRX Systems, won the $500K 'best security startup' award at the GSC last year, really shows how effective Mtech's programs have been in helping our companies position themselves for success."
Winners were chosen by an independent judging panel from industry, government and the investor community. Accenture sponsored the $10K grant award.
The Global Security Challenge LLP (www.globalsecuritychall
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