Transcript Delaware's Intellectual Property Business Creation Program

Joe Zilcosky
Delaware Economic
Development Office
Emerging Technology Specialist
Prepared By: Delaware Economic Development Office’s
Center of Excellence
Tech-Based Seed Fund
Goal
• To provide funding for the creation of
technology based “gazelle entrepreneurs”
• To foster high-wage, fast growing small
businesses in technology fields such as
biotechnology, advanced materials, clean
energy, information technology, and new
chemical applications.
Delaware Economic Development Office – Centers of Excellence
Emerging Technology Center
Services
• Access to Intellectual Property
• Access to Capital
• Access to Service Partner Network
• Access to Other Entrepreneurs
Delaware Economic Development Office – Centers of Excellence
Tech-Based Seed Fund
• Early stage financing: up to $50,000 TBSF 1 and
$100,000 TBSF 2 for start-up expenses
• Convertible Debt
• Collateral: Negotiable; targeted IP, professional
entrepreneurial service donation to ETC.
• Timing: Open, year round solicitation
• Review Process: 4 layer process
• Complimentary Funding: Emerging Technologies
Venture Fund and VC groups
• Commitment from the recipient to grow the
company in Delaware.
Delaware Economic Development Office – Centers of Excellence
Access To Capital
• Pre-Venture Fund: Governor Minner’s
new initiative under the New Economy
Initiative of $5 million for FY 2008
Delaware Economic Development Office – Centers of Excellence
Access to Service Partner
Network
At a pro bono or reduced rate:
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Accounting
Business Development
Product Commercialization
Legal Services
Marketing/Communications
Delaware Economic Development Office – Centers of Excellence
Access To Intellectual Property
• Qualified entrepreneurs are able to license
donated patents from the ETC
Delaware Economic Development Office – Centers of Excellence
About the Program
The State of Delaware's Economic
Development Office (DEDO) has
acquired more than 250 patented
technologies from du Pont and Hercules
Corporation. DEDO’s goal is to utilize
this technology transfer process to
stimulate business start-up and growth
in Delaware.
Delaware Economic Development Office – Centers of Excellence
About the Program
The State of Delaware also formed a
partnership with Hercules Corporation
as part of the company’s commitment to
the State for its support of the Hercules
Research Center Revitalization Project.
In addition to the patent donations, the
company is building a new Paper
Applications Laboratory.
Delaware Economic Development Office – Centers of Excellence
Access To Capital
• ETC sponsored events to connect ‘Angel
Investors’ to start-ups
• Access to DE’s Technology Based Seed
Funds and Venture Funds
• ETC sponsored events to connect
businesses to regional and national
venture and equity funding sources
Delaware Economic Development Office – Centers of Excellence