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CHESAPEAKE INNOVATION CENTER AND TEDCO ANNOUNCE NEW $50,000 PRIZE FOR TOP MARYLAND COMPANY IN DEFEND AMERICA CHALLENGE NEW CATEGORY TO RECOGNIZE MOST INNOVATIVE MARYLAND COMPANY SUBMIT UNTIL DEC. 15 th ANNAPOLIS, MD (November 20, 2006) Chesapeake Innovation Center (CIC) is raising the prize stakes to over $100,000 in its inaugural Defend America Challenge business plan competition through an investment of $50,000 from Maryland Technology Development Corporation (TEDCO). The new prize money creates an additional category in the contest. It will go to a Maryland company judged to have the best innovative technology in the national competition. In order for Maryland companies to be able to take advantage of this new competitive category, full business plans from all Maryland companies with a product or service in homeland security will be accepted until December 15 th . CIC's Defend America Challenge is the country's first national homeland security business plan contest. It is attracting business innovators from around the country who specialize in homeland security . The top national prize is $50,000. If the se lected company is also a Maryland-based company, it will receive both prizes for a total of $100,000. The CIC continues to bring innovative homeland security companies to Maryland , says Laura Neuman , CIC Interim Executive Director. We are pleased to support the Defend America Challenge and help an innovative Maryland company receive the extra funds needed to grow and thrive long term, said Renee Winsky, interim executive director of TEDCO. In addition, we are fortunate to have resources like the Chesapeake Innovation Center in Maryland that support local companies that bring vital products into the market. Anne Arundel Economic Development Corporation's President Aaron Greenfield adds Anne Arundel County has extraordinary assets to offer developing tech businesses. All the competition participants win. We look forward to assisting every competitor. Six finalist companies will present their business plans at a special event at Loews Annapolis Hotel in Annapolis on January 19 th . Winners will be chosen by a panel including venture capital firms, CIC partners, and other governmental and private organizations. For details on media attendance please call the CIC at 410-224-2030. For further information go to: http://www.cic-tech.org/ About Chesapeake Innovation Center (CIC) The Chesapeake Innovation Center (www.cic-tech.org) Maryland , is a business accelerator located in the "informatics corridor" of Anne Arundel County that focuses the power of entrepreneurship on America 's national security requirements. By creating a bridge between major users of security technology and small companies at the forefront of innovation, the CIC, its partners and member companies are able to offer significant advancements in the areas of informatics, energy, physical and cyber security technologies. The CIC has partnerships strategic to America 's national security which include public and private sector entities. CIC identifies and screens early stage technology companies and connects those that match the criteria to a valuable network of industry leading partners in these sectors. Current partners include: The Boeing Company, Northrop Grumman Corporation, ARINC, the National Security Agency and Athlone Global Security. CIC mentors member companies and assists them with customer contracts, funding, staffing, subject matter experts, clearances, government contracting issues, and office facilities. CIC is the intersection of innovation, patriotism and capitalism.
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