11 high-tech firms get state grants

April 01, 1993

The Maryland Department of Economic and Employment Development announced yesterday that 11 high-technology companies would each receive grants of $50,000 as part of the department's Challenge Investment program.

The grants will go to AniCom, Bio-Pax Inc. and Particle Technologies Inc. in Anne Arundel County; Adheron Corp. and AquaPharm Technologies Corp. in Baltimore; In Vitro Technologies Inc. in Baltimore County; ConQuest Software Inc. in Howard County; and Integrated Technologies for Medicine Inc. and Medical Waste Tech Inc. in Montgomery County. Also recipients were Biological Waste Management Inc. and By the Bay Software Inc. in Queen Anne's County.

To receive a Challenge grant, the companies must be developing new technology, have a viable business plan, and put up an equal amount of cash.

Since it was created in 1988, the state program has made grants totaling $1.15 million to 21 Maryland companies.

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