SBIR Targeted Technologies START Program

START Program OverviewOverview: • $12 million to support the commercialization of technologies developed

under Phase II SBIR contracts Goals: • Taking technologies developed under SBIR and priming them for

commercialization – Generate patents – Build prototypes – Perform market research – Write fundable business plans

• Create fast growing MA companies by providing funding as well as coaching, business planning and introductions to potential investors

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Supporting the Innovation Economy

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• START is focused on activities essential to successful commercialization, to help support promising MA companies looking to grow and stay here in the Commonwealth

• State support of the innovation ecosystem • Leveraging federal dollars into high growth

companies moving towards the private sector

The Importance of SBIRsto the State

Massachusetts has long been a national leader in SBIR grants and dollars received

• 2nd in the nation in dollars received • 1st in dollars received per capita • $3.8 billion in commercial sales of SBIR technologies

generated to date • MA has consistently been awarded nearly 12% of all

SBIRs

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START Program Details• 3 Stages over 3 years • $100,000 each to 10 Massachusetts applicants that have won

Phase II SBIR contracts • Based on progress demonstrated over the first year, an

additional Stage II grant of $200,000 will be awarded to the five most promising companies

• At the end of the second year, two companies will be chosen for a $500,000 investment based on their potential for growth and profitability

• This process is renewed yearly!

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START Program Details

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3 Stages over 3 yearsStage 1: Ten companies receive $100,000 eachStage 2: Five companies receive $200,000 each Stage 3: Two companies receive $500,000 investment each

$1 Million$1 Million$1 Million$1 Million

$1 Million $1 Million $1 Million

$1 Million $1 Million

2012 2013 2014 2015

Stage 3

Stage 2

Stage 1

Eligibility

• Massachusetts based companies that have received Phase II funding within the last 3 years

• The company must demonstrate a significant, addressable market for its technology

• Well planned use of proceeds that will take company to commercialization

• Life sciences will not be considered under START as other Massachusetts programs support them.

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Selection Process – Stage 1Streamlined and User-friendly process

• A two-page executive summary and Quad Chart • 80 reviewers evaluate the plans• Top 15 – 20 present to panel of judges– 10 Minute presentation, 5 minute Q&A

• 10 are selected for $100k grant subject to due diligence and contract

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Qualified Reviewers

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• 110 experts in their fields• Evenly divided among:– Scientists– Engineers– Managers of technology companies– Investors

• Each proposal reviewed by minimum of 7 individuals

Results

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• In just five years, START has provided $12 million funding to 50 SBIR projects

• START companies have raised additional capital of $278+ million.

• START companies current combined annual revenue is $82+ million

Results• START companies have seen 30% employee

growth. • START companies employ over 1000 people• Through the START program, MassVentures

has created an ecosystem of more than 200 companies, reviewers, service providers and advisors.

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Key Dates for 2017Announcement / RFP• TBD; typically March-April

Applications Due• TBD; typically April-May

Presentations and tentative decision• TBD; typically May-June

Winners announced• TBD; typically June-July

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Summary

• The State and MassVentures are committed to fueling the innovation economy in the Commonwealth

• MassVentures has a strong track record of helping companies grow and achieve profitability

• A unique program to address Massachusetts’ unique situation

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