Transcript Technology and Innovation Based Economic Development

TEDCO Programs
July 2013
Conventional Funding
Research Laboratory
Corporate Activity
Public Funding
Tech Transfer
F, F, F, & F
Commercial
Launch
SBIR / STTR
Angels
Product Design
Proof of Concept
Basic Research
Venture Capital
TEDCO Programs
Research Laboratory
Corporate Activity
Tech Validation $50K
MD Innovation Initiative $215K
Patent Support $10K
Tech Commercialization Fund $100K
Commercial
Launch
Stem Cell Research Fund $110K - $750K
Product Design
Proof of Concept
Basic Research
Grants, Corp. R&D
TEDCO Affinity Fund $500K
Rural Business Innovation $7.5K
F, F, F & F
SBIR, TBED & Seed
Angels & Venture
Maryland Innovation Initiative (MII)
–$5.8M in funding (annually)
–Foster the transition of promising technologies
having significant commercial potential from
Qualifying Universities
• UMCP, UMB, UMBC, MSU, JHU
–“Site Miners” walk the halls for opportunities
MII Funding Programs
–Phase I - Pre-Commercial Research $100K
• Faculty
–Phase II - Commercialization Planning $15K
• Faculty or Entrepreneur
–Phase III - Early-Stage Development $100K
• Start-up Company proposal within 12 months of Patent
License application
Additional funding for a collaboration with multiple universities
Tech Validation Program (TVP)
– Goal - Increase the number of Maryland academic start-up
companies
– TVP is for non-MII campuses
– University faculty or start-up company applying with the
technology licensing office
– Funding up to $50K
• $40K Pre-commercial technology research
• $10K for commercialization analysis (also federal labs)
• Order of activity to be project specific
– Team - inventor, technology transfer manager, and
entrepreneur
Patent Assistance Program
–“Pilot Program”
–Start-up company support for on going IP expenses
paid to university/college
–Within 18 months Patent Assistance agreement
–Licensing technology from an institution
of higher education in Maryland
–Up to $10K on a one to one match
Technology Commercialization
Fund (TCF)
–Facilitate the commercialization of technology by
Maryland companies
–Significant collaboration OR product development
required
–Projects up to 12 months and up to $100K award
• Requires a 50% company match (can be In-Kind)
Eligibility
–Recipient must be Maryland technology based forprofit company
• Fewer than 16 employees (FTEs) AND
–Recipient must be early stage
• No revenue (Revenue = commercial product sales/services)
OR
• Venture investment no more than $500K total
–Meet the ‘significant collaboration’ requirement
Significant Collaboration
–Companies engaged in a significant collaboration:
• Federal Lab, or Academic Institution in Maryland
• Non-profit research organization
• Under a license agreement or a research agreement
–Companies receiving significant coaching:
• Incubator companies receiving business assistance (3mo.)
• Companies receiving RBI2 assistance
Rural Business Innovation
Initiative (RBI²)
–To assist small technology oriented companies in
obtaining critical assistance to move their
companies to the next stage at no cost to the
company
–Create economic development by strengthening
existing and emerging companies in rural regions of
Maryland
–To build a technology entrepreneurial community in
the rural areas
RBI² Assistance
–Business assistance (examples)
• business model or strategy
• market strategy/analysis and competitive analysis
• funding opportunities and introductions
• financial analysis
• business plan and grant review
–Technology assistance (examples)
• intellectual property
• prototype development
• manufacturing problem solving
• green assessments, etc.
RBI² Criteria
–Companies must be involved in developing new
technologies or utilizing technology to create new
businesses
–Companies must have less than 16 employees
–Annual revenues of less than $1M/year
–Age of company
not a factor
RBI² FY13 Companies 187
# Mentored Companies
LS, 41
NE, 23
WMD, 31
MS, 53
SMD, 39
Regional Representatives
Northeast Maryland Rep.
Debbie Grosh
443.986.2111
[email protected]
Western Maryland Rep.
Chuck Ernst
301.491.7034
[email protected]
Lower Eastern Shore Rep.
Barry Frey
410.202.8867
[email protected]
Southern Maryland Rep.
Angela Singleton
410.941.9111
[email protected]
Mid & Upper Eastern Shore Rep.
John McQuaid
410.463.0855
[email protected]
TEDCO Capital Partners
–TEDCO Affinity Funds
• Propel Baltimore Fund
• Veterans Opportunity Fund1
• Orange Knocks Cyber Fund1
1
• Chesapeake Regional Innovation Fund
1-Currently in formation stage
Maryland Entrepreneur Resource
List
–Resource for:
• Companies to find experienced Entrepreneurs and Mentors
• Entrepreneurs to find their next business opportunity
• Entrepreneurs to collaborate and help each other
–Registration Open for:
• Experienced Entrepreneurs
• Mentors
–Available for Viewing by all
http://tedco.md/program/maryland-entrepreneurs-resourcelist-merl/
Entrepreneurial Education
–TEDCO Portfolio Workshops & Webinars
–TEDCO ICE Awards
–Entrepreneur Expo
–Achieving the Commercialization of Technology in
Ventures through Applied Training for Entrepreneurs
(ACTiVATE)
–INNoVATE offers 12 months of entrepreneurship and
business development leadership training
–Eastern Shore Entrepreneurship Center
–Veterans Project Opportunity
Benefits of TEDCO Funding
–Access to business and technical assistance
–Access to Venture Capital, angels, and strategic
partners
–Publicity through TEDCO press releases
–Recognition and reputation of state programs
–Workshops for TEDCO funded companies only
• Meet one on one with experts
• Network with other companies
Thank you
Robbie Melton
Director, Entrepreneurial
Innovation
[email protected]
(410) 715-4164
@femailentrepren
www.tedco.md